Money laundering officials on trail of defunct fitness club California WOW | Bangkok Post: Most recent

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California WOW pumps out B1.7bn

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The defunct fitness company California WOW Plc cheated its customers and shareholders by reporting losses while transferring 1.7 billion baht out of the country over 10 years, officials say. 

The Anti-Money Laundering Office (Amlo) made the revelation on Friday, saying it believed as many as 10 people were involved in siphoning money out of the business.

The fitness company is now going through bankruptcy reorganisation. More than 1,000 customers have been affected by the closures of its main branches at Ratchayothin, Silom, Sukhumvit 23 and Chaeng Watthana.

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