Thailand Seeks The Extradition Of Two Foreigners In Connection With The Forex-3D Scam

Eddy Polgari, a Hungarian model, and Daryl Cai Younghui, a Singaporean native, are among the 16 accused in the large currency Ponzi scam. Both are close pals of Forex-3D owner Apiruk Kothi, who was arrested in January 2021.

Polgari, according to Thai police, departed Thailand in January 2021, while Younghui escaped on October 25, 2021.

To extradite the two foreign suspects to Thailand, the DSI will now work with the Bureau of Foreign Affairs and Transnational Crime. The Thai authorities will also request that Interpol issue a Red Notice, a worldwide law enforcement permission for the temporary arrest of a sought individual.

High Profits

Kothi founded the Forex-3D website in March 2015, after the formation of the RMS Familia Company with a few pals. The FX investing website promised a handsome 10% return on investment in exchange for investors keeping their money on the platform for at least three months.

The business promised to handle the investments using a staff of FX professionals and artificial intelligence technologies.

The scheme concept, in addition to the ludicrous return guarantees, should have triggered red flags. Forex-3D was a standard Ponzi scam that rewarded current investors for bringing in new investors.

The strategy even succeeded to get the endorsements of some Thai celebrities. Actor Pattanapon 'DJ Man' Minthakhin and his singer-wife Suteewan 'Baitoey' Thaweesin were among the suspects behind the scams. Savika Chaiyadej, dubbed 'Pinky,' a movie star, and her older brother and mother were also accused in the Ponzi scam.

Forex-3D blew up when the firm ran into financial issues in late 2018 and had to postpone monthly dividend payments for many months. Furthermore, it encouraged investors to seek total withdrawals of their monies, culminating in the scheme's demise.

A Massive Swindle

More than 9,000 investors who deposited around two billion baht ($55 million) in the scam filed complaints with the DSI. The true number of investors, however, is thought to be significantly greater, with a potential total investment of 20 billion baht ($554.7 million).

In 2019, Thai officials searched multiple places associated with Kothi and his network members, taking cash, luxurious automobiles, and a variety of papers, among other valuables.

In another FX scam in Thailand, Natthamon Khongchak, known to her followers as 'Nutty,' scammed almost 6,000 individuals for around $55 million. She claimed to be a professional forex trader and financial counselor, and she guaranteed investors 25% returns for three-month contracts, 30% for six-month contracts, and 35% for a year.

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