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Published on December 12, 2007

DSI spokesman Piyawat Kingket said Easy Network Market had cheated around Bt40 million from Chiang Mai residents alone and possibly around Bt1 billion from around 1,600 innocent investors nationwide.

Only 400 investors have filed complaints with police so far.

Police have obtained arrest warrants for the directors of three companies involved in the rice seed scheme - Somkhid Business, Golden Gate Group (Thailand) and Retail Joint Venture. He did not say whether any of the directors have been arrested.

Speaking at the case handover ceremony at Mae Ping Police Station, police said all police units located in provinces where investors had been cheated would still receive complaints and interview them to compile information for the DSI.

DSI deputy director-general Phinyo Thongchai said affected investors in Chiang Mai were mostly hilltribe people and Chiang Mai had been selected because of its good business atmosphere.

On the Bangkok noodles case, Piyawat said the DSI had contacted superiors of Colonel Choophong Pinthong at the Military Intelligence Department of the Supreme Command to have him surrender to the DSI after the suspect failed to honour his pledge to do so yesterday.

The Nation