DSI confiscates five super cars

WEDNESDAY, JULY 03, 2013
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The Department of Special Investigation (DSI) yesterday confiscated five luxury vehicles from a man linked to a Ferrari that triggered a series of investigations into a tax-evasion scam involving expensive cars.

The Ferrari was one of several cars that caught fire on a trailer being driven through Nakhon Ratchasima in late May. Public suspicion has grown since because no one came forward to claim ownership of the vehicle.
Ekworawut Onchote was named “on paper” as its owner. He is a director and authorised signatory of Bio Power Co Ltd, which is based in Pathum Thani. This led the DSI to raid the firm yesterday to conduct a search, after which, they decided to take in five luxury cars for inspection.
“We have targeted luxury vehicles first. There are many other cars at the firm but they are not of luxury type,” investigator Major Supawan Phonak said.
Ekworawut told the DSI his firm provided automobile-mortgage services and the Ferrari in question had a Bt8-million loan with an interest rate of 1 per cent. The company only had the car’s registration book.
Ekworawut named Nareunart Kuansawas as the mortgage applicant, and denied knowing Tanatas Khunnut, the owner of L Motor, where the Ferrari was reportedly re-assembled. Investigators are now convinced many operators have no capacity to re-assemble luxury cars.