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DSI hunts Singaporeans on fraud charges


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DSI hunts Singaporeans on fraud charges

By The Nation

 

5e6cd70415e93a4a77c6b3379e7ec8e6.jpeg

EAGLE GATES Grand Opening Thailand 2016.

 

The Department of Special Investigation (DSI) is seeking extradition of four Singapore citizens on the charge of deceiving around 250 victims to trade in a fake firm and lose some Bt235 million, a deputy DSI chief said.

 

Pol Col Songsak Raksaksakul, deputy DSI director general, said the department is seeking co-operation from Singapore to extradite the four alleged masterminds of the Eagle Gates share-trading scam.

 

Songsak said DSI officers on Wednesday obtained the Criminal Court's approval to extend the detention period of Derrick Mathew Keller, an American, who was an alleged accomplice.

 

Songsak said Keller has admitted during interrogation that he is an actor and he was hired to act as the CEO of Eagle Gates to deceive investors in China, Hong Kong, Macao, Malaysia and Thailand to trade in imaginary Eagle Gates shares.

 

Songsak said the gang bought a name of a company that was registered in the US.

 

The gang then created a website and a fake clip of CNN interviewing Keller about the trading firm. Keller was told to follow a prepared script, the officer said.

 

Then the gang held a launch ceremony at the Royal Cliff Beach Pattaya during which Keller was flown in on a helicopter to the function held at the hotel's poolside with a concert by well-known singers.

 

Songsak said the fake firm than sold four investment packages each of US$1,000, $5,000, $10,000 and $50,000 with 3, 6 and 9 per cent yields.

 

Songsak said the fake firm paid the yields in bitcoin but the investors could not withdraw money unless they could sell bitcoin.

 

The investors later found that they were defrauded and filed complaints with the police.

 

Pol Lt Col Phaisit Sangkhahapong, director of the Foreign Affairs and International Crime Division, said the transnational criminal gang had accomplices in several countries.

 

He added that there were 23 accomplices in Thailand and 12 Thais and a foreigner have been arrested in Thailand. 

 

He said Singapore has issued arrest warrants for alleged masterminds and accomplices in Singapore and Thailand is seeking their extradition.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30352718

 
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-- © Copyright The Nation 2018-8-22
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Singapore asked to hand over ponzi masterminds

By The Nation

 

dca67e21a665f9361a7c543416a2541e.jpeg

EAGLE GATES Grand Opening Thailand 2016

 

Gang lured investors with fake CNN interview, CEO flown in on helicopter and superlong limos: DSI

 

THAILAND is seeking the extradition of four Singapore citizens believed to be involved in the Eagle Gates Group’s ponzi scheme, which has resulted in a combined loss of Bt235 million for about 250 Thai and foreign investors.

 

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Pol Colonel Songsak Raksaksakul, deputy chief of the Department of Special Investigation (DSI), said investors were lured into putting their money in assets that did not exist.

 

Thai authorities are seeking cooperation from Singapore authorities to extradite the four unnamed alleged masterminds of the scam to Thailand for further legal action.

 

At its peak, as much as Bt1 billion had been invested in the scam, Songsak said, adding that the DSI yesterday obtained Criminal Court approval to extend the detention period of US national Derrick Mathew Keller. He was taken in as an alleged accomplice.

 

Songsak said Keller had admitted that he was an actor and had been hired by the mastermind to act as “CEO” of Eagle Gate to deceive investors in China, Hong Kong, Macau, Malaysia and Thailand.

 

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The DSI deputy chief added that the gang had allegedly bought the name of a company that was registered in the US but did no business, and used it to cheat investors. The gang also created a fake website and a fake video clip depicting Keller being interviewed by CNN about the trading firm’s prospects. Keller claims he was given a script to follow. 

 

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EAGLE GATES Grand Opening Thailand 2016.

 

In 2016, the gang held a grand launching ceremony at the Royal Cliff Beach Hotel in Pattaya, during which Keller was flown in on a helicopter. The function, held by the hotel’s pool, also included performances by well-known singers. 

 

Songsak said the bogus firm sold four investment packages worth US$1,000 (Bt32,000), $5,000, $10,000 and $50,000, offering yields of 3, 6 and 9 per cent.

 

The DSI official said the fake firm paid these yields in bitcoins, but investors could not withdraw money unless they could sell the cryptocurrency. The investors later filed police complaints after realising they had been defrauded. 

 

Transnational criminal gang

 

Pol Lt-Colonel Phaisit Sangkhahapong, director of the Foreign Affairs and International Crime Division, said this was a transnational criminal gang with accomplices in several countries, adding that there were 23 accomplices in Thailand. So far, 12 Thais and a foreigner have been arrested in connection with the scam.

 

Phaisit added that Singapore had issued arrest warrants for masterminds and accomplices, while Thailand is seeking their extradition.

 

The gang posted its Hollywood-style fake CNN interview on YouTube in 2016.

 

“This is CNN,” the interview starts against a background of Capitol Hill in Washington DC, with the interviewer describing herself only as Alexandra of the stock market room, while the interviewee is called Eddy McClough, chief executive of Eagle Gates.

 

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EAGLE GATES Grand Opening Thailand 2016.

 

The interview lasts about seven minutes, in which McClough talks about the negative interest-rate trend. This video clip, used to convince potential investors during seminars and conferences, helped boost the fake firm’s credibility, police explained.

 

The gang held seminars and meetings in key cities, including Nakhon Ratchasima and Chiang Mai, and the masterminds appeared to have the whole presentation perfectly planned, with executives arriving by helicopter or super-long limousines, police said. 

 

At the seminar, the executives would be greeted by a long line of well-dressed men and women, usually foreigners, while attendees were presented with a beautifully designed prospectus and video clips so they could be convinced to invest, police added. 

 

Source: http://www.nationmultimedia.com/detail/national/30352744

 
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-- © Copyright The Nation 2018-08-23
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Singapore has always been a 'safe haven' for Thai fugitives evading the law (Red Bull et. al.) so I can't see them handing over their own citizens to face Thai 'justice'.

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37 minutes ago, Phuketshrew said:

Singapore has always been a 'safe haven' for Thai fugitives evading the law (Red Bull et. al.) so I can't see them handing over their own citizens to face Thai 'justice'.

Different situation. They have never asked anyone including Singapore to extradite him as they don’t want him to face justice. These fraudsters don’t have that luxury ‘yet’.

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2 hours ago, Phuketshrew said:

Singapore has always been a 'safe haven' for Thai fugitives evading the law (Red Bull et. al.) so I can't see them handing over their own citizens to face Thai 'justice'.

Thailand didn't hand over James Roach to Singapore. He robbed a Singapore bank and fled to Thailand. No safe haven in Singapore for fugitives. It is simply that the legal paperwork is left wanting or lack of effort on the Thai side.

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Some times back a Canadian robbed a singapore bank and fled to Thailand and was arrested...Singapore requested his extradition but was refused by Thailand...Now Thailand wants an extradition from Singapore....What a joke...

Does Thailand know what is border-crime co-operation...:1zgarz5: 

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If I was a dishonest man,all these frauds going on here,

seem so easy,a way to earn a lot of money quickly,there

seems to be an endless supply of gullible people just

waiting to be taken.

regards Worgeordie

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7 hours ago, webfact said:

At the seminar, the executives would be greeted by a long line of well-dressed men and women, usually foreigners

Pesky well dressed foriegners. 

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