Thonburi Healthcare and Hospital Group Founder Wanted for Billion-Baht Fraud Flees Thailand

Thailand Hospital News: The founder of Thailand’s renowned Thonburi Healthcare Group (THG), Dr. Boon Vanasin, has become the center of a massive fraud investigation, shaking the country’s healthcare and investment sectors. While the 86-year-old tycoon has fled to China, his wife and daughter have surrendered to authorities, denying all allegations. The scandal involves billions in damages, multiple arrests, and shattered trust in one of Thailand's prominent business figures.


The 'Honorable' Dr Boon Vanasin From Thonburi Healthcare and Hospital Group
 
Just prior to the scandal, ads and paid sponsored articles by the Thonburi Healthcare Group and Thonburi hospital could be found frequently in the last few years on some of the garbage online media outlets in Thailand. Thailand Medical News has already been warning readers and investors to be wary of hospital groups or clinics especially beauty clinics or doctors that frequently run ads or sponsored post on some of the garbage media outlets in Thailand especially the ones that are even supported by Google News.
 
Family Members in the Spotlight
Dr. Boon’s wife, 79-year-old Jaruwan Vanasin, and his daughter, 51-year-old Nalin Vanasin, surrendered to police on November 23 in response to warrants issued against them for public fraud. Their lawyer maintained their innocence, claiming their signatures on financial documents were forged. Both women avoided speaking to the press during their surrender, heightening public curiosity.
 
According to the local police, arrest warrants were issued for Dr. Boon, Jaruwan, Nalin, and six other associates linked to the alleged crimes. Six of these suspects have already been apprehended, while Dr. Boon’s escape to China raises questions about the effectiveness of Thailand’s legal system in pursuing high-profile fugitives.
 
Allegations Against the Tycoon
Dr. Boon is accused of masterminding fraudulent schemes that lured hundreds of investors into medical-related projects under the THG brand. The promised ventures included a cancer center, a wellness center in Bangkok, hospitals in Laos and Vietnam, and a medical intelligence facility. The total investment for these projects exceeded 20 billion baht, with guarantees of lucrative returns: 700 million baht in 2023 profits and 1 billion baht this year.
 
Initial payments were made to investors, but subsequent payments faltered. This Thailand Hospital News report reveals that over 500 complaints have been filed against Dr. Boon, primarily by victims who were unable to cash issued cheques. The estimated damages from these schemes total 7.5 billion baht, a staggering figure that has sent shockwaves through Thailand’s business community.
 
A History of Controversy
This is not Dr. Boon’s first encounter with legal troubles. In 2022, he faced scrutiny from stock market regulators for allegedly disseminating false information that artificially inflated TH G’s share prices. The previous year, he claimed that THG had acquired 20 million doses of Pfizer COVID-19 vaccines for Thailand, a claim that turned out to be false.
 
The Escape Route
Thailand authorities confirmed that Dr. Boon fled Thailand on September 29, traveling from Bangkok to Hong Kong before entering China. The escape has sparked debate over how such a high-profile individual managed to evade law enforcement, raising questions about surveillance and international cooperation.
 
Deputy MPB Commissioner Pol Maj Gen Noppasin Poonsawat stated that efforts are underway to track Dr. Boon’s whereabouts. However, extradition from China remains a complex legal process that may take considerable time, if it happens at all.
 
Arrests in the Network
The police have also arrested two women linked to Dr. Boon’s fraudulent network. Identified as Siriwimol, 38, and Jidapha, 53, the women were detained at a law firm in Nonthaburi province. Fraud charges were filed against them, and a luxury Mercedes-Benz was seized as part of the investigation.
 
Their roles in the fraudulent schemes are still under investigation, with authorities piecing together the extent of their involvement in the alleged crimes.
 
How the Fraud Scheme Worked
Dr. Boon’s schemes capitalized on his reputation as a successful hospital executive. Through advertisements and personal promotions in various local garbage media, he presented five ambitious medical projects, including:
 
-A cancer center in Bangkok valued at 4 billion baht
 
-A wellness center in Bangkok’s Rama 3 area costing 6 billion baht
 
-Three hospitals in Laos and one in Vietnam, with combined investments of 11 billion baht
 
-A medical intelligence facility worth 120 million baht
 
Investors signed contracts with Dr. Boon and received advance cheques as guarantees. These cheques eventually bounced, leaving investors with nothing but losses.
 
The Role of Family Members
While Jaruwan and Nalin claim innocence, investigators are probing their financial ties to the projects. Allegations include forged signatures on cheques and guarantee documents, though the two women maintain they were unaware of the fraudulent activities and are victims of forgery.
 
Their lawyer has announced plans to take legal action against Dr. Boon and other individuals involved in the falsification, suggesting a fractured family dynamic amidst the scandal.
 
Impact on Thonburi Healthcare Group
The reputation of Thonburi Healthcare Group has taken a significant hit. Once a trusted name in healthcare, THG is now embroiled in controversy that could jeopardize its operations and public trust. Investors and stakeholders are demanding answers, and regulatory authorities are keeping a close watch on the company’s activities.
 
Some are also calling for investigations into the Marketing and Public Relations teams involved and also certain local media outlets as they can be deemed as being part of the fraud scheme in terms of directly or indirectly luring unsuspecting investors.
 
Many of Thailand Hospital Tycoons Have Tainted Histories
Many of Thailand’s hospital tycoons have been involved in numerous scandals. For example, the founder of the BDMS Hospital group, one of the largest chain of private hospitals in Thailand was implicated in stock market price manipulation in 2019.
https://asia.nikkei.com/Business/Companies/Thai-tycoon-s-stock-scandal-puts-Bangkok-Dusit-Medical-in-a-bind
 
https://www.bloomberg.com/news/articles/2019-01-21/ban-on-thai-billionaire-prompts-slump-in-top-hospital-operator
 
Another, the owner of a hospital in Nonthaburi was found to have physically assaulting a young male.
https://www.thailandmedical.news/news/thai-doctor-from-mongkutwattana-hospital-in-bangkok-charged-for-physically-assaulting-and-stripping-naked-a-14-year-boy
 
Conclusion: A Nation Watches for Justice
The saga surrounding Dr. Boon Vanasin and Thonburi Healthcare Group serves as a cautionary tale about trust, greed, and accountability. It has exposed vulnerabilities in Thailand’s financial and legal systems, where high-profile figures can manipulate reputations to defraud unsuspecting investors.
 
While Dr. Boon remains at large, the arrest of his family members and associates marks a significant step in the pursuit of justice. Authorities must now focus on securing his extradition and ensuring that all involved parties face the full force of the law.
 
For the victims, the road to recovery is long and uncertain. Many have lost their life savings to promises of high returns in supposedly secure medical projects. This scandal underscores the need for stricter regulations and due diligence when investing in high-stakes ventures.
 
As Thailand continues to grapple with the fallout from this scandal, one thing is clear: justice must prevail to restore faith in the nation’s institutions.
 
Thailand is emerging as the hub for scams and frauds especially involving the rich Sino-Thais that are often deemed as HISOs or ‘honorable people’ by the local garbage media!
 
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