Busted: Monk caught up in multi billion baht Ponzi scheme

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Busted: Monk caught up in multi billion baht Ponzi scheme

 

Thai caption: Busted in saffron robes

 

A monk that was involved in a multi billion baht Ponzi scheme has been arrested in Sa Kaew province in the east of Thailand. 

 

Phuthipong Rujiphanphokhin, 42, was served with an arrest warrant for defrauding the public at a religious affairs office in Khao Samsip sub-district. 

 

His arrest relates to the Yufan Ponzi scheme that defrauded people of tens of billions of baht. The international scheme was uncovered in 2015.Some of the 164 perpetrators have been arrested, others remain on the run.

 

Picture: Daily News

 

The monk was both a victim and a perpetrator in the scheme, suggested Daily News, who said he had ordained in the monkhood after losing everything that he had. 

 

Source: Daily News

 

 

-- © Copyright Thai Visa News 2019-10-08

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[legend49]

Useless news. How can the public ever learn what a Ponzi scheme is what to avoid if these reporters fail to tell them???

[LennyW]

Monks and temples in Thailand....biggest ponzi scheme on the planet!! 

[Joker Man]

Where were they when the monk defrauded others hard-earned money?  

[digger70]

3 hours ago, LennyW said:

Monks and temples in Thailand....biggest ponzi scheme on the planet!! 

All religions are Schemes may it be a Ponzi or any other scheme.  

[hotchilli]

4 hours ago, legend49 said:

Useless news. How can the public ever learn what a Ponzi scheme is what to avoid if these reporters fail to tell them???

Ok I'll kick it off... the whole temple/monkhood is a Ponzi scheme...

[khaowong1]

2 hours ago, hotchilli said:

Ok I'll kick it off... the whole temple/monkhood is a Ponzi scheme...

ha ha ha ... it's hard to start a argument when practically everyone agrees with you.  ????