Gold tests show Mae Tak and Pa Beer’s products are 99.99% pure, but the couple remains in jail on fraud and money laundering charges. Police continue to probe their rapid wealth accumulation, seizing luxury cars and assets as part of a broader investigation.
On Friday, tests on gold samples taken in relation to the Mae Tak and Pa Beer case revealed a gold purity of 99.99% for pendants and bracelets. Furthermore, tests on necklaces varied from 97.55% to 94.44%. However, tests on gold beads linked with promotional giveaways showed a gold purity as low as 61.45%.
In the meantime, police with the Consumer Protection Division are widening the investigation into potential money laundering. They are also trying to establish the source of the retailed gold. On Friday, as the results of the gold tests were revealed, officers emphasised that the couple still faces charges in relation to false advertising.
This comes as both accused remain in prison, having been refused bail by the Criminal Court on Tuesday.
On Friday, the Director of the Consumer Protection Division on Contracts, Mr. Lertsak Raktham, announced the results of testing gold samples seized in relation to the case of Mae Tak and Pa Beer. The high-profile couple was arrested in a publicised raid on their home on Monday.
Couple held in detention after court denied bail. Facing charges for public fraud and improper advertising
Later, after being taken for questioning at the Crime Suppression Division (CSD) headquarters, they appeared in court on Tuesday. In short, the court refused to grant bail, and they were taken to the Central Women’s Correctional Institution and Bangkok Remand Prison, respectively.
Reports indicate that 37-year-old Ms. Kornkanok Suwannabut is suffering from stress due to her incarceration. In contrast, her husband, 35-year-old Kanpon Rueang-aram, is thought to be coping well.
Gold couple arrested in police raid on Monday on criminal charges including public fraud and false advertising
In the meantime, police agencies, including the Anti-Money Laundering Office (AMLO), have been busy. On Wednesday, the couple’s home was raided, and five luxury cars were seized. These included a Lexus, Lamborghini, Toyota Alphard, Toyota Transformer, and Porsche Cayenne. The raid was authorised by a search warrant issued by Minburi Criminal Court.
Police widen probe, seize luxury vehicles and raid premises linked to the online gold retailer fraud case
Police sources confirmed that many of the vehicles were owned under hire-purchase agreements, particularly through companies controlled by the so-called golden couple.
At the same time, business premises and gold shops associated with the couple were also raided.
The couple was arrested on charges of public fraud, offences under the Computer Crime Act, and various advertising offences under consumer affairs legislation.
Significantly, on Friday, results from tests conducted on the gold samples seized by the Consumer Protection Police Division were released. In short, they showed most of the gold to be 99.99% pure. According to the tests, the gold was as advertised.
Tests confirm gold purity. Earlier allegations led to suspicion among other gold retailers and the public
At length, Mr. Lertsak explained that the tests involved X-rays and melting of the samples. However, tests on some of the samples revealed a gold purity level as low as 61.45% upon melting for gold beads. For gold necklaces, the purity was 97.55% on X-rays, while on melting it was 92.78%. Similarly, small ring necklaces returned a figure of 96% on X-ray and 94.44% on melting.
Nonetheless, the gold purity for pendants and bracelets was all 99.99%.
Before this, the controversy and clamour surrounding the couple’s gold retail business was growing. Basically, it was caused by other gold shops refusing to accept the firm’s gold products for sale or as security for loans. This in turn caused public unease and a run on the shop with customers demanding refunds.
Despite the furore that erupted, the couple insisted their products were genuine. In turn, they had been offering full refunds to customers wanting their money back. In the last 24 hours, police revealed that the couple’s bank account balance had fallen from ฿70 million to ฿20 million before the account was seized as part of the investigation.
Financial investigation deepens as Police examine the couple’s rapid wealth accumulation and seize property
On Friday, Mr. Lertsak suggested that the criminal investigation into the pair continued. Certainly, they face charges of false advertising or improper labelling of products. These offences carry a prison term of up to six months or a fine of ฿100,000.
In addition, police are anxious to broaden the investigation. In particular, they wish to establish the supplier of gold to the business enterprise. Furthermore, the couple’s finances are being examined, as they appear to have amassed significant wealth in a particularly short period.
Moreover, police are reported to be preparing to speak with Ms. Jay Nuch, reportedly the right-hand person of Ms. Kornkanok. In the meantime, police have already interviewed some influencers who took part in the online retail campaign promoted by the couple.
On Friday, Mr. Lertsak suggested that prosecuting officials are looking at whether the pair required licences to conduct such online promotions.
At the same time, it is reported that a lawyer has spoken online with Ms. Kornkanok in detention. Officials at both the Central Women’s Correctional Institution and Bangkok Remand Prison have spoken to the media. They advised that both pretrial detainees have been given counselling on adjusting to prison life. Furthermore, they are still subject to a more relaxed haircut regime, as they have not yet been convicted by a court.
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