Police Asked to Trace Missing California WOW Owner
The Anti-Money Laundering Office (“AMLO”) have asked police on Monday to track down Eric Levine, co-founder of the failed California WOW Experience fitness club.
AMLO are presently investigating the club over allegations it cheated customers and shareholders by transferring 1.69 billion baht out of the country whilst simultaneously declaring annual losses.
The Bangkok Post confirm that Mr Levine and up to ten others currently face only police summonses for questioning.
The company has been suspended from trading in the Stock Exchange of Thailand (SET).
To clarify there is actually no specific offense of tax evasion under the Thai Penal Code under Thailand Criminal Law – the criminal offense in Thailand is fraud.
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Flickr Photo Credit: slgckgc
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