webfact Posted May 24, 2018 Share Posted May 24, 2018 Southern Thais report 200 million baht gold share scam to police Picture: Thai Rath Thais in Sadao and Hat Yai districts of Songkhla thought they were onto something good when they invested in cheap gold on Facebook. The people running the scheme were selling gold that they said came from pawn shops - it was available at only 16,000 baht per baht weight, well under the price at gold shops. Interest was also offered if the gold was not delivered within 10 days. Many people invested and some got a profit in the early days. But then like other such scams the money dried up and the funds transferred to the fraudsters were a one way street. Yesterday 40 people went to Klong Nge police to jointly register a complaint. The con is expected to have defrauded hundreds of around 200 million baht. Source: Thai Rath -- © Copyright Thai Visa News 2018-05-24 Link to comment Share on other sites More sharing options...
trainman34014 Posted May 24, 2018 Share Posted May 24, 2018 Simple scam when a gullible population is always looking for ways to accumulate easy money. Link to comment Share on other sites More sharing options...
300sd Posted May 24, 2018 Share Posted May 24, 2018 Greed. Lots of it around. Link to comment Share on other sites More sharing options...
Get Real Posted May 24, 2018 Share Posted May 24, 2018 Give some the real deal, and millions will follow. Link to comment Share on other sites More sharing options...
zaphod reborn Posted May 24, 2018 Share Posted May 24, 2018 Gee, buy gold through facebook. What could go wrong? Link to comment Share on other sites More sharing options...
klauskunkel Posted May 24, 2018 Share Posted May 24, 2018 I could sell the gold for 19,600 baht, but I sell it to you for 16,000, because..., because..., because you are smart. Link to comment Share on other sites More sharing options...
tagalong Posted May 24, 2018 Share Posted May 24, 2018 300sd....GREED! Greed has nothing to do with it.,..You 300sd, do not invest in the best return when u can! The unfortunate investors saw an opportunity n it turned out to be a bad one.. Link to comment Share on other sites More sharing options...
watcharacters Posted May 24, 2018 Share Posted May 24, 2018 20 minutes ago, tagalong said: 300sd....GREED! Greed has nothing to do with it.,..You 300sd, do not invest in the best return when u can! The unfortunate investors saw an opportunity n it turned out to be a bad one.. Please explain your post more clearly. Are you accusing 300sd of being ignorant for not investing in what should to most appear to be an obvious scam? Link to comment Share on other sites More sharing options...
RichardColeman Posted May 24, 2018 Share Posted May 24, 2018 53 minutes ago, tagalong said: The unfortunate investors saw an opportunity n it turned out to be a bad one.. Unfortunate ? I think Idiots, greedy or gullible would be a better choice of words Link to comment Share on other sites More sharing options...
parallaxtech Posted May 24, 2018 Share Posted May 24, 2018 Two questions for those knowledgeable about 23k Thai gold: 1. Isn't the international fixed gold price based on 24k gold and, if so, how can Thailand charge the same price for 96.5% gold? Shouldn't one demand 99.999% gold or is that a different price? 2.When you purchase a large amount of gold from a Thai gold shop, they ask for a passport. Why is this? I told the merchant that I wished to remain anonymous as I valued my life. She said that it was only for their records. Link to comment Share on other sites More sharing options...
300sd Posted May 24, 2018 Share Posted May 24, 2018 Tagalong, I will give you some investment advice! Don't. Good luck Link to comment Share on other sites More sharing options...
swissbie Posted May 24, 2018 Share Posted May 24, 2018 1 hour ago, parallaxtech said: Two questions for those knowledgeable about 23k Thai gold: 1. Isn't the international fixed gold price based on 24k gold and, if so, how can Thailand charge the same price for 96.5% gold? Shouldn't one demand 99.999% gold or is that a different price? 2.When you purchase a large amount of gold from a Thai gold shop, they ask for a passport. Why is this? I told the merchant that I wished to remain anonymous as I valued my life. She said that it was only for their records. 1. Different prices 2. Money laundering Link to comment Share on other sites More sharing options...
parallaxtech Posted May 24, 2018 Share Posted May 24, 2018 Thanks Swissie for your comment. Sheryl or any moderator: Please put this in the business forum. World price is approximately $1300 for one ounce of 100% gold. Thais charge 40, 300B ($1300 x 31B) for one ounce of 96.5% gold. It seems to me that they should only charge 38,889.50B (40,300B x .965) If you buy $35-50k USD of gold, you could be suspected of being a money launderer? If so then the police would just confiscate your gold until they figure it out, which would be never. This is pretty scary. Link to comment Share on other sites More sharing options...
ostyan Posted May 24, 2018 Share Posted May 24, 2018 Only an incapable can buy anything on FB. (or even use it ) Link to comment Share on other sites More sharing options...
TPI Posted May 25, 2018 Share Posted May 25, 2018 I think the correct response is "som nom na"? Link to comment Share on other sites More sharing options...
Redline Posted May 26, 2018 Share Posted May 26, 2018 Sorry, but they deserved it Link to comment Share on other sites More sharing options...
happy chappie Posted May 28, 2018 Share Posted May 28, 2018 Greed one of the seven deadly sins.its the Achilles heel of Thais.one thing they will never understand and that is...if it sounds to good to be true it probably is. Link to comment Share on other sites More sharing options...
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