SOUTH GROUP SPRINGHILL KOREA: China, Korea linked to pill scam | Bangkok Post: news | Dropjack

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The move came after the Department of Special Investigation (DSI) obtained information that a Thai company had struck a deal to buy 10 billion pseudoephedrine-based cold tablets from a Chinese firm. 

Previously, the DSI obtained information that the firm also signed a deal to buy 850 million tablets, or 40 tonnes of the medicine, from South Korea. 

The DSI found that 87 million cold tablets were transported into Thailand from South Korea by plane on nine occasions since 2010. 

They had false air cargo manifests to avoid attracting attention from the authorities. 

The DSI suspected the medicines were smuggled in from South Korea. 

The DSI is investigating two companies suspected of being involved in the smuggling of the pills from overseas. 

The companies are UTAC Thai Co Ltd, a supplier of integrated circuits, and TVR Group Co Ltd, a car dealer and vehicle hire firm. 

Some information relating to the drug purchases was uncovered at the companies during recent searches of their premises but the firms denied any involvement. 

Mr Tarit said yesterday DSI officials also discovered a contract to buy 10 billion pseudoephedrine-based cold tablets from China during the search at UTAC Thai Co Ltd. 

Under the contract, the first batch of 2 million tablets was to have been shipped to Thailand on July 31, 2009. 

He said the DSI also found a photo showing a man collecting the pills from Suvarnabhumi airport cargo warehouse. 

The cold tablets from China and South Korea have the same brand name of COLCOLCO, he said. 

Mr Tarit said DSI officials also searched the company’s factory but there was nothing amiss. 

However, it was found that the company had three South Korean executives and one Thai executive, Mr Tarit said. 

He said the Korean Food and Drug Administration recently sent information regarding the nine shipments of pills which showed the contract to buy the cold tablets from South Korean was signed by UTAC Thai Co. 

Mr Tarit said the DSI’s special case committee had decided to take up the inquiry into the pseudoephedrine smuggling case. 

The committee had also agreed to investigate call centre scams involving criminal gangs duping people into transferring money to their accounts via ATMs. 

Mr Tarit said he would head the inquiry into the smuggling of the cold tablets and lead an investigation team to travel to South Korea to seek more information about the contract. 

Mr Tarit said shipping companies that were paid to import the pills would face prosecution for supporting the alleged smuggling of the medicine and for making false declarations, even if the tablets went through proper customs procedures before being shipped to Thailand. 

Deputy Prime Minister Chalerm Yubamrung, who chairs the DSI’s special case committee, said he had sought help from senior authorities in China to support Thailand’s efforts to crack down on the smuggling of cold pills and they were willing to help. 

Organised investment fraud cost Aussies $113m

http://www.zdnet.com/organised-investment-fraud-cost-aussies-113m-7000000460/

The Australian Crime Commission has estimated that 2600 Australians have lost more than $113 million due to investment fraud, in the last five years.

The findings come in a new report, published yesterday, titled Serious and Organised Investment Fraud in Australia (PDF). The report was put together by Taskforce Galilee, a consortium of 19 government departments, including the Crime Commission, the Attorney-General's Department, the Australian Tax Office, the Department of Human Services and the Australian Communications and Media Authority.

In addition to offers for shares in companies, the fraudsters offer green energy investments, new technology shares, lotteries and sweepstakes and foreign currency trading, among others.

The report found that most of the operations targeting Australians were based overseas. Many were based in Asia, but were not run in Asia. Those who cold-called victims were generally Australia, English, Scottish, Kiwi or South African.

The report stated that the fraudsters commonly used Voice-over-IP, email, phone, mobile phone or SMS to contact victims, and developed fake websites with log-ins that would displace fake balances, to keep the victim investing money in the scam.

The victims tended to be male, aged over 35 years, but generally over 50. Small business owners, self-funded retirees and those who are socially isolated were common. The report said that Australian victims were found to be well-educated and computer literate.

Home Affairs Minister Jason Clare said in a statement that people could be strung along for months before catching on.

"This is what happens. The criminal syndicate cold calls the investor, refers them to a flash website and sends them a brochure, promising strong investment returns. After taking their money, they string them along for months or even years, and then the money disappears," he said.

"People’s entire life savings are stolen by criminals, with the click of a mouse. This type of crime destroys wealth and destroys lives. It’s also very difficult to stop."

He said that the number of those who had fallen victim to investment fraud could be much higher than the 2600 estimate, because people tend not to report the crime.

In a press conference yesterday, Australian Crime Commission CEO John Lawler said telecommunications providers had a big role to play in helping to crack down on investment fraud.

"They become very, very important collaborators, particularly with the regulator. And we do have the telecommunications and the ISP associations engaged with this initiative as well," he said.

"There's a range of things they can do to help in a disruption context. And it becomes about alerting and warning, and when monies are to be sent, or whether we have companies that are identified as being involved in investment fraud that the actual victim is alerted to the fact that these are known to the authorities."