Police are hunting for a Chulalongkorn University’s former professor who operated what was suspected to be a Ponzi scheme and escaped with about one billion baht in investments of his investors.

Pol Lt-Gen Thitirach Nongharnpitak, commissioner of Central Investigation Bureau, said Sunday that a warrant had been issued by the court for the arrest of Associate Professor Sawat Sangbangpla, former chairman of Chulalongkorn University’s savings cooperatives, after complaints were lodged to the police by hundreds of people who claimed they were cheated of their investment money by the professor.

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