BANGKOK – Thai police say they have arrested a Japanese woman wanted for allegedly running a multimillion-dollar pyramid investment scheme in her homeland.
Immigration Department chief Lt. Gen. Nutthorn Prawsunthorn said Wednesday that Setsuko Yamabe persuaded victims to invest 700 million yen ($6.3 million) in a fund that she claimed would lend to companies and earn a high rate of return. He said her investors would recruit additional investors in the fashion of a multilevel marketing scheme.
Police said Yamabe was arrested on March 30 in the northeastern province of Ubon Ratchathani on a warrant issued by Japan's Kumamoto District Court. Her documents showed that she had traveled in and out of Thailand 15 times, most recently entering from neighboring Laos.