Man held over Bt50m fraud

[snoop1130]

Man held over Bt50m fraud

By The Nation

 

 

A man has been arrested for allegedly defrauding around 100 stock market investors of about Bt50 million, police said.

 

Pol Lt Gen Suchate Hakpal, Immigration Bureau chief who also heads the economic crime centre, said Jittaraphon Nisarat, 25, was arrested on Tuesday at his apartment in Bangkok's Phra Khanong district.

 

Surachate said Jittaraphon was arrested under a warrant issued by the Criminal Court on Friday.

 

Jittaraphon was accused of collaborating with two other accomplices to convince over 100 victims to invest in their company with a promise of a 10 per cent yield per month for their investment. The investors were asked to invest at least Bt300,000.

 

The investors were told that Jittaraphon's company would invest in the Wall Street stock market for profits in short sales.

 

Surachate said the investors received the promised returns for just the first three or four months but Jittaraphon then stopped paying the yields and closed his company and disappeared.

 

Surachate said police are still hunting for the two accomplices, Sorachat Klamsaeng, 40, and Pirayuth Arj-amnuay, 34.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30364456

 

-- © Copyright The Nation 2019-02-20

[Ralf61]

When will they ever learn?
When will they ever learn?

 

[Mavideol]

by the names it appears they are all Thais...hummm!!!! one of BJ Generals said that Thais don't scam Thais how can that happen now

[worgeordie]

24 minutes ago, snoop1130 said:

a promise of a 10 per cent yield per month

So they believed them..........remember that saying, if it sounds too good to be true...guess they don't have that one here.

regards worgeordie

[scorecard]

25 minutes ago, Mavideol said:

by the names it appears they are all Thais...hummm!!!! one of BJ Generals said that Thais don't scam Thais how can that happen now

 Getting boring...

[kannot]

mist be the invisible man as i dont see  any pointing, no  pointing = fake news

[kannot]

Looks  more like a  skinhead  meeting

[dddave]

Classic Ponzi scheme. Give the promised returns to initial investors using subsequent investors funds, then as the word spreads that your are legit, rake it in.  Of course, greed eventually wins out as they keep going rather than packing their bags and leaving town....just ask Bernie.

[Andrew65]

14 hours ago, worgeordie said:

So they believed them..........remember that saying, if it sounds too good to be true...guess they don't have that one here.

regards worgeordie

...it sounds like it could be a classic Ponzi-scheme, in a Bernie Madoff kinda way!

[ezzra]

just another day in paradise... fool's paradise that is...

[fullcave]

Greed is a powerful magnet. 

[KittenKong]

5 minutes ago, fullcave said:

Greed is a powerful magnet. 

And it attracts stupidity.

[Ctkong]

20 hours ago, Ralf61 said:

When will they ever learn?
When will they ever learn?

 

Greed is a very powerful motivator.  Add in stupidity and the combination is lethal.