While reporting losses transferred 1.69 billion baht (99% of all transactions) abroad & to buy Phangnga land for founder Eric Levine from 2000-2011. Cheating customers by shutting down branches while selling memberships.
California Wow land seized by anti-money laundering agency
The Anti-Money Laundering Office (AMLO) has seized 88 million baht in land owned by defunct fitness firm California Wow as part of its fraud investigation.
Amlo secretary-general Seehanart Prayoonrat announced the decision Tuesday after a transaction committee considered a request by the Consumer Protection Police Division to freeze assets linked to the bankrupt fitness club for alleged money laundering and fraud.
The frozen assets included five parcels of land covering 18 rai in Phangnga.