The Criminal Court on Wednesday denied bail to a Singaporean held over alleged connections with the Forex-3D Ponzi scheme.
Daryl Cai Younghui, 32, a close associate of Apirak Kothi, the founder of the infamous Ponzi scheme, was arrested on Monday at Phuket airport while waiting to catch a flight to his home country.
The Criminal Court issued a warrant for his arrest last November for his alleged involvement in the scheme that caused 2.4 billion baht of financial damage.
The Department of Special Investigation (DSI) on Wednesday sought to detain him for 12 days for further questioning and opposed a bail request.
Mr Younghui's lawyer submitted a request worth 500,000 baht as he told the court his client agreed to wear a tracking device while on bail.
The court rejected the proposal and deemed him a flight risk.
Mr Younghui was later taken to Bangkok Remand Prison.
Responding to the news, Italian-Thai model Sarah Casinghini, the suspect's wife, said her husband would prove his innocence.
According to the DSI, Mr Younghui colluded with Mr Apirak in operating the Forex-3D Ponzi scheme in which more than 9,800 people fell prey with damages estimated at 2.5 billion baht.
Mr Younghui's arrest followed the couple's appearance on a talk show on the ONE31 digital TV channel on Jan 11.
Ms Casinghini claimed on the programme that she was not involved in the Forex-3D scheme, adding that her husband had returned to Thailand to try and prove he was innocent of any crimes linked to the scheme.
Mr Younghui was reported to have fled to Singapore from Thailand on Oct 25 last year, after the DSI pressed charges against him, including colluding to obtain loans to defraud and public fraud.
