The latest arrest was announced at the Crime Suppression Division (CSD) on Friday morning. The three people arrested were Nonnarat Mulichan, 38, Poonthanan Mulichan, 30, and Thitiyarat Boonmeeprasert, 38.

They were held under an arrest warrant issued by the Criminal Court ion Tuesday when police arrested the first suspect, Sarawut Chairitthinat, 38.

A fifth suspect, Suriyo Mulichanm 30, is still on the run.

CSD Commander Pol Maj-General Suthin Suppuang said that the five co-founders of Palitta Pure Inter Cosmetic company were accused by 14 people of cheating them out of Bt82.33 million.

The complainants said were promised returns of 22 per cent in 65 days. But they have not received benefits, nor were their investment funds returned.

Nonnarat allegedly claimed that she and the four other suspects pooled their money to start their own brand of cosmetics. She said the investment required a lot of money but they failed to obtain bank loans, so they decided to raised their own fund through the scheme.

Initially, she said, the business went well but later on salespersons focused on raising funds for commission instead of selling products, so the company became cash-strapped.

She apologised to the investors, saying the problem because she lacked experience in doing business.