8 minutes ago, mahtin said:

After the assistant manager of a famous bank in Pattaya was notified by the agency bank until he was taken to prison at the beginning of the month last Feb. After the bank documents were burned and the evidence was damaged.

 

https://mgronline.com/onlinesection/detail/9640000127314

google translate

"After the bank documents were burned and the evidence was damaged." I presume this was the handy work of the accused in an attempt to hide his tracks.

25 minutes ago, khunPer said:

7.5 percent interest from a bank sounds unrealistic to me, there must be more to that story than revealed here...????

Banks in India and Nepal give 10% or more. So not that unrealistic.

 

Seems to be a lot of stories like this. How can they expect farang to deposit 800k for retirement visa?

Was it really theft or a recommended investment gone bad ?

Not just farangs. Thais too.

 

 

 

All Thai banks exist for the benefit of shareholders and staff.  Customers are treated with disdain as is their money. K-Bank is not a lot worse than The Farmers Bank who make their clients sit outside in 30+ temperatures as a precaution against Covid; or Bangkok Bank who 'lost' at least 40K of my money to bogus ATM withdrawals - the manager couldn't have been more disinterested.

1 hour ago, Berkshire said:

A little more detail would be helpful.  Did these people voluntarily invest in this scheme?  Or was it done without their knowledge?  If the latter, it's simply fraud and the bank must redeem.  If the former....might be a little more complicated.

Assistant Manager may have been running a Ponzi Scheme  55555.

58 minutes ago, ThailandRyan said:

1 hour ago, SAFETY FIRST said:

Maybe they're Broken English Men 

You meant English men that have been broken by Thai women and are now broke...

Yes, also they could be English men who were first broken by their English wife's now double broken. 

There are some good start up investments around........I was reading the other day that Paddy and Mick

 

Are looking for funds to launch their invention of a pedal powered wheelchair .............................

 

 

 

Some troll posts and replies have been removed

2 hours ago, ikke1959 said:

If the interest is low and you want to make more of your money you have to take more risks. I worked a long time in the bank and I know it for years... If it goes wrong there is always a chance that you loose your money more or less, but that is the risk.. Results from the past are not sure in the future..

You are completely ignoring the fact that this was a Criminal Rip-Off !

2 hours ago, ikke1959 said:

If the interest is low and you want to make more of your money you have to take more risks. I worked a long time in the bank and I know it for years... If it goes wrong there is always a chance that you loose your money more or less, but that is the risk.. Results from the past are not sure in the future..

So you don’t know what this is about, you have no idea of the back story but still feel compelled to comment ?   
 

These are people who were ripped off by a bank employee offering a product he pedaled as being from K bank & transactions took place inside the bank. 
 

 

2 hours ago, ikke1959 said:

If the interest is low and you want to make more of your money you have to take more risks. I worked a long time in the bank and I know it for years... If it goes wrong there is always a chance that you loose your money more or less, but that is the risk.. Results from the past are not sure in the future..

So you don’t know what this is about, you have no idea of the back story but still feel compelled to comment ?   
 

These are people who were ripped off by a bank employee offering a product he pedaled as being from K bank & transactions took place inside the bank. 
 

 

As it happend in the bank and by a bank employee, id say the K-bank is responsible. Sure the people were not that bright for believing the high returns. (but they can be excuses a bit as it happend inside the bank by a bankemployee). Still, they are not 100% without fault themselves. 

 

If it looks too good to be true, it usually is. Now its up to the bank, to compensate, im sure they are not that willing. Nor will it be easy given evidence has been destroyed. 

 

I am no lawyer, so it also depends a bit on what kind of documents the people had. I mean was there a logo of the bank present on the papers they signed for the investment or not. Should they have been able to see it was not something of the bank or was that put there too. 

 

Will be a long hard fight against a bank with a lot of money and time. 

I don’t understand something. If you deposit or withdraw money from your account, wouldn’t you notice that the your account is not in the system?

What rate of return did the con man K bank employee offer?

this story has changed, originally i recall about 4% a month ponzi going on? now they are asking for 7.5% maybe that's based on their actual deposits plus a greedy rate of 7.5%

1 hour ago, Don Chance said:

Banks in India and Nepal give 10% or more. So not that unrealistic.

 

Seems to be a lot of stories like this. How can they expect farang to deposit 800k for retirement visa?

But TIT, not India or Nepal...????

43 minutes ago, richard_smith237 said:

So you don’t know what this is about, you have no idea of the back story but still feel compelled to comment ?   
 

These are people who were ripped off by a bank employee offering a product he pedaled as being from K bank & transactions took place inside the bank. 
 

 

So if you hae the complete background tell us please... I know that if you want to make money you have to take the risks surely if the normal interest is not even 1%. Same as you can buy gold on internet for a very cheap price... It always doubtful. Now I don't know what happened but is already a few years going on, so probably a long term investment... People should always beware of too rosy figures

 

Here's what's going to happen, the bank will agree to pay it back, but demand the same sum in restitution for slander.

Totally understand they want their money back, but how in the zero interest world did they come up with 7.5%??? Choke dee with that! Be lucky to get 7.5% of the TOTAL back. 

21 minutes ago, scubascuba3 said:

this story has changed, originally i recall about 4% a month ponzi going on? now they are asking for 7.5% maybe that's based on their actual deposits plus a greedy rate of 7.5%

I think the 7.5% is yearly, could be a government/law  thing. That in cases that you are owed money the rate is 7.5%. 

13 minutes ago, ikke1959 said:

So if you hae the complete background tell us please... I know that if you want to make money you have to take the risks surely if the normal interest is not even 1%. Same as you can buy gold on internet for a very cheap price... It always doubtful. Now I don't know what happened but is already a few years going on, so probably a long term investment... People should always beware of too rosy figures

 

I agree, but if you as a bank employee are selling these things and pocketing the money falsifying bank statements and such. Then you and probably the bank can be held responsible (not sure exactly how the law works in Thailand) But in other countries it works in a way that if the people could have thought this was done by the bank and not you as a private person (by you wearing bank uniform being in the bank when making transactions and using banks paper)  then the bank is liable.

We are not talking about investments gone bad but a Ponzi scheme. 

 

And yes I agree people should be smarter, but the fact that this happened in a bank mitigates that a bit.

17 minutes ago, ikke1959 said:

So if you hae the complete background tell us please... I know that if you want to make money you have to take the risks surely if the normal interest is not even 1%. Same as you can buy gold on internet for a very cheap price... It always doubtful. Now I don't know what happened but is already a few years going on, so probably a long term investment... People should always beware of too rosy figures

 

You're ‘victim blaming’ - this occurred in a Bank.....

 

If you want the back story you can put a little effort into searching the story (plenty of news on this out there) and then make a comment which doesn’t blame normal people going into a bank and depositing money.

 

 

 

 

 

 

 

 

4 hours ago, dyertribe said:

4 hours ago, RandolphGB said:

Why have they written their placards in broken English?

Just because they are Caucasian, it doesn't mean that English is their first language ...

You think that one out of the one hundred-plus would know correct English, though! 

3 hours ago, Hamus Yaigh said:

If true isn't this a pertinent fact that seems to have evaded the o/p?

It's all been well-reported for a long time, this is an ongoing investigation that doesn't need to be duplicated, ad nauseum, in every OP.

2 hours ago, Fat is a type of crazy said:

If they have walked into  a bank, have been seen by the allegedly dodgy Manager and done business on premises and been given documents on Kasikorn letterhead, surely the bank is liable. 

They have to take responsibility for the rogue employee.

If the manager said I'll meet you off site to show you my products as a separate contractor or consultant then the bank might have a case. 

It's the latter.

2 hours ago, mikebell said:

K-Bank is not a lot worse than The Farmers Bank

K-Bank cannot be worse, same same: K-Bank = Thai Farmers Bank... 

2 hours ago, Don Chance said:

Seems to be a lot of stories like this. How can they expect farang to deposit 800k for retirement visa?

"Seems to be a lot of stories like this".

Nonsense.  It's be interesting to see you quote specifics of there "seeming to be a lot of stories like this".    I've never seen anything similar reported before or since, can you detail just one similar case?

 

" How can they expect farang to deposit 800k for retirement visa?"

Very easily.  This was a one-off, it is not typical of Thailand's banks.

2 hours ago, Thaifly88 said:

Was it really theft or a recommended investment gone bad ?

Theft.

2 hours ago, mikebell said:

All Thai banks exist for the benefit of shareholders and staff. 

All commercial banks exist for the benefit of shareholders, not just Thai banks.