Boon Vanasin, the founder of Thonburi Healthcare Group (THG), is currently at large in China while his wife and daughter have surrendered to the police in Thailand.
Faced with charges of public fraud, 79 year old Jaruwan Vanasin, and her daughter, 51 year old Nalin, turned themselves in to the police and have denied all allegations against them.
The two women chose not to speak to the media when they surrendered. Their lawyer, however, stated that they are denying any involvement in the fraudulent activities attributed to them. They claim their signatures were forged, and they did not sign any cheques related to the alleged schemes.
The Metropolitan Police Bureau secured court approval to arrest 86 year old Boon, along with his wife and daughter. Arrest warrants were also issued for six other suspects involved in the case, all of whom were apprehended yesterday, November 23.
The investigation accuses the suspects of misleading investors in medical ventures promoted by Boon. Additionally, Boon is alleged to have forged his former daughter-in-law’s signature to secure a loan, resulting in damages estimated at 7.5 billion baht. The Criminal Court issued an arrest warrant for Boon on charges of public fraud, fraudulent borrowing, money laundering, and issuing bad cheques.
Similar charges have been levelled against the other suspects. Between December last year and October this year, 527 complaints were filed against Boon at the Huai Khwang police station by victims who were unable to cash the cheques he issued.
Getting away with it
Boon leveraged his status as a prominent hospital executive to promote five medical-related projects, including a cancer centre, a wellness centre in Thailand, hospitals in Laos and Vietnam, and a medical intelligence project, attracting substantial investments.
The total investment for these projects exceeded 16 billion baht, with investors being promised 700 million baht in profits for last year and 1 billion baht for this year. Although initial payments were made, subsequent payments were missed, causing turmoil for investors attempting to cash their cheques, according to a source familiar with the investigation.
Police Major General Noppasin Poonsawat, the deputy commissioner of the Metropolitan Police Bureau, revealed that Boon fled Thailand on September 29, travelling from Bangkok to Hong Kong before proceeding to China.
Boon previously clashed with stock market regulators in 2022 for disseminating false information that inflated THG’s share price. In the preceding year, he had also claimed that THG had acquired 20 million doses of Covid-19 vaccines from Pfizer for Thailand, a delivery that never transpired.
Yesterday, police arrested two women linked to Boon’s network at a law firm in Bang Bua Thong district of Nonthaburi. These women, identified as 38 year old Siriwimol and 53 year old Jidapha, face fraud and fraudulent borrowing charges. A Mercedes-Benz was seized from them during the arrest, reported Bangkok Post.
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