American swindler arrested in Nana - he preyed on foreigners living in Thailand

[webfact]

Daily News Thai Caption: Three million baht swindler

 

The Economic Crime Division police acting on orders from Pol Lt-Gen Jiraphop Phiridech served an arrest warrant on a 37 year old American man who Daily News named only as "Matthew".

 

A warrant claims that he posed illegally as an investment middleman for an international company, a charge in a South Bangkok court paper.

 

Matthew was arrested at a hotel in the Nana nightlife area.

 

This followed complaints made to the Securities and Exchange Commission about the American's financial dealings.

 

Keep up to date with all things Thailand - Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe

 

Picture: Daily News

 

They claim that he preyed on foreigners living in Thailand in a variety of scams promising 5% on all returns.

 

Instead he made off with 3 million baht of their money claiming at one time that he had been hacked and lost the money to thieves himself. 

 

This appears to have been a ruse to buy him time. 

 

Health insurance plans that meet the long stay visa requirements

 

 

-- © Copyright  ASEAN NOW 2022-04-02

 

- Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

 

Get your business in front of millions of customers who read ASEAN NOW with an interest in Thailand every month - email [email protected] for more information

[sammieuk1]

He will now find out that scamming can work both ways meet the professionals ????

[worgeordie]

20 minutes ago, webfact said:

scams promising 5% on all returns.

 

Very conservative returns for a scam ,at least compared  to

what Thai scammers offer ,10 - 30 % not unusual .

regards Worgeordie

[Ohyesuare]

9 minutes ago, worgeordie said:

Very conservative returns for a scam ,at least compared  to

what Thai scammers offer ,10 - 30 % not unusual .

regards Worgeordie

Conservative in the hopes of making it more believable I guess,

[kcpattaya]

Matthew is good a Math

[worgeordie]

8 minutes ago, Ohyesuare said:

Conservative in the hopes of making it more believable I guess,

But only managed to get 3 Million Baht ,chicken feed for Thai scammers.

regards Worgeordie

[Iamfalang]

I think the statue of limitations were set to expire next month (8 years).  LOL.  Brah, you spent 3 million in pattaya on Soi 666?   If so, ok.  If you kept a few million, just hide in the jungle for one month!!  So he did this scam at 29?  Not a good life, imo.   Next time offer 80000 percent and get 100 billion in bitcoins 

Edited April 2, 2022 by Iamfalang

[Henryford]

28 minutes ago, worgeordie said:

Very conservative returns for a scam ,at least compared  to

what Thai scammers offer ,10 - 30 % not unusual .

regards Worgeordie

Actually probably wise to only offer 5%, almost believable. Those offering 30% are obviously scams. But who would make an investment with some guy you met in a Nana car park?

Edited April 2, 2022 by Henryford

[smedly]

Will he ever see a jail cell ?

 

I do hope so, I also hope victims of this thief get some of their money back although I have my doubts on both counts

 

he is certainly not the first or last farang to commit this sort of theft - be careful out the folks 

[ozzydon]

Are you sure he wasn't a thai police officer they swindle more people than anyone in Thailand

[shackleton]

This is not going to go down well with the Nigerian scammers a foreigner 

With no work permit scamming other people????

[Ohyesuare]

1 hour ago, smedly said:

Will he ever see a jail cell ?

 

I do hope so, I also hope victims of this thief get some of their money back although I have my doubts on both counts

 

he is certainly not the first or last farang to commit this sort of theft - be careful out the folks 

I have my doubts as well as he was only scamming foreigners which is the national sport in Thailand's tourist cities, you can't blame him for wanting to participate.

[itsari]

2 hours ago, worgeordie said:

Very conservative returns for a scam ,at least compared  to

what Thai scammers offer ,10 - 30 % not unusual .

regards Worgeordie

10 times better than a Thai bank will offer on fixed term of 6 months or more .

20 times better on a saving account .

Any way the man is innocent until proven guilty .

[1FinickyOne]

2 hours ago, worgeordie said:

Very conservative returns for a scam ,at least compared  to

what Thai scammers offer ,10 - 30 % not unusual .

regards Worgeordie

maybe a more credible tactic appealing to people w/lots of money? 

[Liverpool Lou]

2 hours ago, Henryford said:

But who would make an investment with some guy you met in a Nana car park?

Probably no one but why ask that as there was no suggestion that that was how investors were introduced to him?

[Liverpool Lou]

2 hours ago, smedly said:

Will he ever see a jail cell ?

Many foreign fraudsters/call centre gang members have, so no reason that he won't, either.

[Enoon]

2 hours ago, worgeordie said:

Very conservative returns for a scam ,at least compared  to

what Thai scammers offer ,10 - 30 % not unusual .

regards Worgeordie

I guess that added to his plausibility in the eyes of his foreign "marks".

 

Foreigners may have been more suspicious had he offered the sort of returns that Thai conpersons offer their Thai targets.

 

(Oops, looks like I might be a bit late to the game in the nature of my response to your comment!)

 

Edited April 2, 2022 by Enoon

[cocoonclub]

2 hours ago, worgeordie said:

Very conservative returns for a scam ,at least compared  to

what Thai scammers offer ,10 - 30 % not unusual .

regards Worgeordie

 

2 hours ago, worgeordie said:

But only managed to get 3 Million Baht ,chicken feed for Thai scammers.

regards Worgeordie

He’s American, not Thai. 
regards cocoonclub

[OneMoreFarang]

Imagine you meet a guy in Nana car park and he tells you he has this great investment. And you tell him: I like to hear more about that, how about we go to your office.

He says: Sure, and he walks with you straight into Lollipop.

Yeah, sure! 

[Andrew65]

4 hours ago, Henryford said:

Actually probably wise to only offer 5%, almost believable. Those offering 30% are obviously scams. But who would make an investment with some guy you met in a Nana car park?

To one expert, the fact that Bernie Madoff was guaranteeing 12% was obviously a scam.

[Isaan sailor]

An overall 5% return?  Meh.  You can buy blue chip stocks which appreciate and pay dividends of 5% or more.  Added bonus—it’s legal.

[Andrew65]

"investment middleman" AKA a financial adviser,

[hellohello123]

There is nothing I hate more in this world than scammers

 

Even more than politicians

[zyphodb]

17 minutes ago, hellohello123 said:

There is nothing I hate more in this world than scammers

 

Even more than politicians

Is there any difference?

[vandeventer]

3 hours ago, Ohyesuare said:

I have my doubts as well as he was only scamming foreigners which is the national sport in Thailand's tourist cities, you can't blame him for wanting to participate.

He should be tared and feathered for scamming foreigners that live here. Most of us are on pensions the dirty b------!

[sawadee1947]

He's not a swindler but criminal????

[rtco]

The Thai justice system is slow. I complained to the Thai SEC about the guy that scammed me out of 130,000 UKP in 2013 and the ECD of the RTP have only just got around to asking me to make an official complaint but they want me to go to BKK and pay for my own interpreter. No payback in it for me so forget it. Another guy who scammed some friends legged it to the UK and he got away with extradition because of the state of Thai jails so he is still lording it with his scammed millions ... https://www.law360.co.uk/articles/1445003

[Mywayboy]

Hitler once stated take it little by little from the people and they will never notice until everything is gone.

That's how this guy worked no offers of huge returns. 

[Mywayboy]

1 hour ago, hellohello123 said:

There is nothing I hate more in this world than scammers

 

Even more than politicians

Politicians are scammers 5555

[Xin Loi]

4 hours ago, Liverpool Lou said:

Probably no one but why ask that as there was no suggestion that that was how investors were introduced to him?

Seems to me, if you go looking for trouble or an easy way out, you will always find it, and it will most likely bite you, in your backside.