PHUKET: Police believe they have found the bones of a billionaire from Europe, probably killed by a Hungarian who also allegedly committed a second murder on Phuket.

The bones of a man believed to be Laszlo Csepai were uncovered today when police on Samui explored a deep grave in the basement of a luxurious villa owned by accused killer Moshe David, 38.

The solidly-built Hungarian businessman has already been accused of one murder and reenacted the killing of compatriot Peter Reisz on Phuket with a heavy wooden beam then a knife.

That murder allegedly took place at a Phuket City housing estate on Phuket on November 24 before the body was dumped at an isolated spot not far away, near Patong Hill.

Suspicions that David had already murdered and disposed of Hungarian billionaire Laszlo Csepai appeared to be confirmed today.

Samui police, assisted by Hungarian police and a private detective, exhumed the remains of a body on Samui.

The skeleton was buried deep in the basement of a luxury villa at Rock Samui Villas, near Chaweng beach, then covered with concrete.

The skull of the skeleton had been badly fractured. DNA comparisons with Laszlo Csepai's mother, who is now in Thailand, will confirm whether it is her son.

Mr Csepai arrived in Thailand on February 15, 2011, and Flew to Samui two days later. Then he disappeared. On February 23, his girlfriend went to Samui police and reported him missing.

Investigations have since established that his credit card was used to buy furniture after his death.

The furniture bought with the missing billionaire's credit card now sits in the villa, one of three owner by accused murderer Moshe David.

Interviews with David's Thai wife have led police to believe he killed both Csepai and Peter Reisz.

Moshe David is being held without bail in Phuket Prison in Phuket City, awaiting trial on the Phuket murder charge.