BANGKOK: Thai prosecutors on Friday formally indicted Boon Vanasin, the 86-year-old former chairman of Thonburi Healthcare Group (THG), for loan fraud totalling 16 billion baht ($480 million).
Boon, who fled Thailand, is accused of running a decade-long scheme that defrauded numerous individuals, according to the attorney-general’s office.
Authorities have requested an Interpol Red Notice for his arrest.
His ex-wife and daughter, both THG directors, were arrested last year alongside six others on fraud and money laundering charges.
In 2022, Thailand’s Securities and Exchange Commission (SEC) fined Boon 2.3 million baht ($66,000) for misleading investors about THG’s ability to secure millions of Pfizer COVID-19 vaccines—an investigation found no contract had been signed with Pfizer.
Prosecutors vowed to pursue the case aggressively, instructing the Department of Special Investigation (DSI) to bring Boon to justice within 15 years, before the statute of limitations expires.
While Boon’s exact whereabouts are unknown, reports suggest he has fled to China. – AFP
