Filipino fugitive arrested in Thailand on multiple warrants

Thai authorities have arrested Cerrone Posas and his wife Marve after their permission to stay in Thailand was revoked. The arrest was made following an INTERPOL Red Notice from the Philippines, where Cerrone faces 155 arrest warrants for syndicated estafa. The couple was taken into custody by the Royal Thai Police at their home in Phetchaburi. Thai officials announced that they revoked the couple's temporary stay because they are wanted fugitives in another country. Cerrone Posas is known as the President and CEO of Organico Agribusiness Ventures Corporation in the Philippines. His company has been accused of running a Ponzi scheme, promising investors a quick return on their money through new investors' funds. Reports indicate that Posas is also involved in running a commercial real estate firm in Thailand. In 2021, the Philippines' Securities and Exchange Commission labeled his company as a Ponzi scheme. The Philippine Department of Justice found enough evidence to file charges against Posas and his wife, linking them to violations of financial regulations. The couple initially entered Thailand as tourists in 2019 and have since extended their stay multiple times. During questioning, the couple claimed they were executives of an investment company and faced financial difficulties. They fled to Thailand after being targeted by arrest warrants in the Philippines. The Philippine Embassy thanked Thai authorities for their cooperation in this case. The Thai police have emphasized that the country will not serve as a refuge for criminals. The Posas couple is currently held at the Immigration Detention Center in Bangkok and awaits deportation.