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British man wanted on alleged multi million pound Ponzi fraud arrested in Bangkok

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British man wanted on alleged multi million pound Ponzi fraud arrested in Bangkok | Samui Times
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A British man wanted in the UK over an alleged fraud totalling almost £3.9 million has been arrested in Bangkok having overstayed his visa.

british man arrested in ThailandMark Hallett, 48, from Somerset, is currently being held at an Immigration detention centre after being arrested by officers from Thonglor police station.

Initially officers expected to process Hallett on Immigration related charges only.

However, early investigations found that Hallet has a warrant out for his arrest in the UK after failing to appear before South Somerset magistrates in 2010 to face 13 charges of fraud and money laundering.

The charges relate to an alleged Ponzi scheme which was carried out between September 1, 2007 and May 1, 2009, with a total gain of £3,897,000.

The two charges of money laundering related to the withdrawal of £3.5 million and the wire transfer of £36,500 to several bank accounts in Thailand.

Thonglor police are also investigating Hallett on claims that he has been involved in a Ponzi scheme in Bangkok.

Police received complaints from victims after Hallett allegedly convinced them to invest in the scheme that involves copper being extracted from scrap metal and sold for profit.

Hallett allegedly promised 20% returns on investment. However, no such returns have been forthcoming.

Thonglor police suspect that more victims of the alleged scrap metal Ponzi scheme are yet to come forward.

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