Expand / Collapse search
Watch TV
Menu

This material may not be published, broadcast, rewritten, or redistributed. ©2024 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

Asia

Thai police arrest Japanese woman wanted for pyramid scheme

Associated Press
Published | Updated
020e4a5b-

A Thai Immigration officer, right, escorts Setsuko Yamabe of Japan before a press conference at the Immigration Office in Bangkok, Thailand, Wednesday, April 5, 2017. Thai police said Wednesday that they have arrested Yamabe wanted for allegedly running a multimillion-dollar pyramid investment scheme in her homeland. 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, Immigration Department chief Lt. Gen. Nutthorn Prawsunthorn said. (AP Photo/Sakchai Lalit) (The Associated Press)

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.