webfact Posted September 27, 2022 Share Posted September 27, 2022 More than 13,000 victims are estimated to have suffered losses of several billion baht as a result of the latest alleged Ponzi scheme, under the name Forex 3D, supposedly engaged in forex trading. The alleged Ponzi scheme is currently under police investigation and some of the suspected masterminds are in custody, including some celebrities from the entertainment industry. Why do so many people fall prey to such Ponzi schemes without learning the lessons from previous cases? One hypothesis is that people search for higher yields due to low bank deposit rates and low return on investment from the domestic stock market. Many people are unable to make ends meet, so they become vulnerable to financial cheating through pyramid schemes. Thailand has experienced a long period of slower economic growth since the country experienced a financial crisis in 1997. The crisis has been followed by low investment, low economic growth, an aging society and political instability. Given such bleak economic conditions, many people are seeking high returns on their savings and taking excessive risks. Full story: https://www.thaipbsworld.com/lure-of-high-yields-lax-regulators-behind-ponzi-scams/ -- © Copyright Thai PBS 2022-09-27 - Cigna 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. Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more! Link to comment Share on other sites More sharing options...
Popular Post Phuketshrew Posted September 27, 2022 Popular Post Share Posted September 27, 2022 17 minutes ago, webfact said: Why do so many people fall prey to such Ponzi schemes without learning the lessons from previous cases? Greed and stupidity. 6 3 Link to comment Share on other sites More sharing options...
Popular Post Shuya Posted September 27, 2022 Popular Post Share Posted September 27, 2022 18 minutes ago, webfact said: One hypothesis is that people search for higher yields due to low bank deposit rates and low return on investment from the domestic stock market. Because they are greedy? 2 1 Link to comment Share on other sites More sharing options...
Orinoco Posted September 27, 2022 Share Posted September 27, 2022 11 minutes ago, Shuya said: Because they are greedy? One of the cornerstones of Thai society. 2 Link to comment Share on other sites More sharing options...
greenmonkey Posted September 27, 2022 Share Posted September 27, 2022 yep, greed and gullability (if that is a word). I told aunties and friends (neither of which were poor or desperate for money) to stay away from these schemes many many times but they chose to ignore and they constantly tell my missus how much money they are earning and then suddenly you hear nothing more from them. Then eventually we find out that they lost their money and when the missus asks how much they suddenly change the subject or give a very vague answer!!! ???? But I bet they will still be willing to pay into the next scheme that comes along. Link to comment Share on other sites More sharing options...
xylophone Posted September 27, 2022 Share Posted September 27, 2022 8 hours ago, Orinoco said: One of the cornerstones of Thai society. Unfortunately scams like this are happening all over the world with Ponzi schemes, crypto currencies and whatever else one cares to name, so one could suppose that greed and gullibility (perhaps stupidity) are pretty well universal! Link to comment Share on other sites More sharing options...
hotchilli Posted September 27, 2022 Share Posted September 27, 2022 (edited) 21 hours ago, webfact said: Why do so many people fall prey to such Ponzi schemes without learning the lessons from previous cases? Greed is greater than grey matter? Edited September 28, 2022 by hotchilli 1 Link to comment Share on other sites More sharing options...
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