Tycoon's assets under probe

Tycoon's assets under probe

Myanmar tycoon Tun Min Latt (Photo: Pierre Fauchard Academy)
Myanmar tycoon Tun Min Latt (Photo: Pierre Fauchard Academy)

The Office of the Narcotics Control Board (ONCB) is examining assets confiscated from Myanmar tycoon Tun Min Latt who was arrested in Bangkok last Saturday on charges of conspiring to traffic narcotics and money laundering as it widens its net on a drug ring.

ONCB deputy secretary-general Piyasiri Wattanavarangkul said apart from examining and verifying whether the seized assets were ill-gotten, the agency has to trace assets to determine if there are others involved in the drug trade.

He said the Anti-Money Laundering Office will step in if the ONCB uncovers the seized assets that have been laundered. He added that the criminal investigation against the Myanmar tycoon is being handled by the Royal Thai Police (RTP).

RTP deputy police spokesman Pol Col Krissana Pattanacharoen said on Friday that the court granted a police request to detain Tun Min Latt and three Thai nationals on Tuesday to gather more evidence and investigate the network.

He stressed that legal action would be taken against anyone implicated in the narcotics and money laundering operations.

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