Thailand Moves to Seize Tycoon’s Assets in $350 Million Scam

Thai authorities have begun seizing the assets of a hospital tycoon who fled the country after allegedly luring more than 12 billion baht ($350 million) into fake medical projects from hundreds of investors.

Boon Vanasin, the 86-year-old founder of Thonburi Healthcare Group Pcl, is wanted on charges of fraud and money laundering following the emergence of complaints about the scam from December 2023. The medical doctor had misled victims into believing they were investing in five medical projects in Thailand, Laos and Vietnam, none of which existed, according to investigators.

The charges against Boon are now being probed ...