PANAMA PAPERS EXPOSE CASH TRAIL AMID RED BULL FUGITIVE HUNT
Aug 17, 10:08 AM EDT
PANAMA PAPERS EXPOSE CASH TRAIL AMID RED BULL FUGITIVE HUNT
BY MARTHA MENDOZA
AP NATIONAL WRITER
The Bangkok billionaire family that co-founded Red Bull, the world's leading energy drink, uses offshore companies to cloak purchases of jets and luxury properties, including the posh London home where the clan's fugitive son was last seen.
The Yoovidhya family's efforts to hide assets show how easily major global financial players can routinely - and, usually, legally - move billions of dollars with little or no oversight.
The family's confidential deals were inadvertently exposed by the jet-setting son Vorayuth "Boss" Yoovidhya, who attracted cries of impunity after repeatedly failing to show up in court for allegedly racing away in his Ferrari after slamming into a motorcycle cop in a deadly hit-and-run in Bangkok. More than 120 Instagram and Facebook postings by friends and family led The Associated Press earlier this year to the Yoovidhyas' London vacation home, where Vorayuth refused to comment.
Thai authorities revoked his passport and issued an arrest warrant, but say they don't know where he is.
More:
http://hosted.ap.org/dynamic/stories/A/AS_RED_BULL
LBN:
https://www.democraticunderground.com/10141847416
Vorayuth "Boss" Yoovidhya