Thais seize Italian in $10 million fraud

AFP-JIJI

Thai authorities have arrested an Italian wanted over alleged links to a human trafficking ring that swindled around $10 million from European taxpayers and banks, officials said Thursday.

Stefano Raccagni, 38, is wanted in Italy on suspicion of being part of a 12-strong Milan-based gang that smuggled people into the country to defraud tax authorities and banks. He was arrested Tuesday in Chiang Mai, where he had settled with a Thai girlfriend since arriving in the kingdom in 2009, police said.

He will be extradited soon.