100M THB missing in CM from "large and trustworthy bank"

[TheAppletons]

"Some 200 farmers showed up at Chang Phueak Police Station in Chiang Mai’s Muang district on Friday demanding to know what had happened to their money.

 

San Pa Tong Agriculture Cooperative claims that more than 100 million baht of its deposit with a reputable bank has mysteriously disappeared.

 

There has apparently been no sign of the money despite three attempts to negotiate with the bank."

 

https://www.nationthailand.com/thailand/general/40025194

[FritsSikkink]

3.8 % interest and the account should have gone from 70+ million to 104 in 2 years time. Somebody has math problems. 

[worgeordie]

Once again ,what should be known ,is been withheld ,the name of

the large trustworthy bank, the defamation law is skewed, always

to the advantage of  the parties that hide behind it .not saying it's

the bank's fault the money has disappeared , just covering my @rse

in case their legal department read this......

 

regards Worgeordie 

[Johpa]

Sounds similar to the case of the purported missing millions from the Mae Sa Elephant Camp bank accounts.  Odd that a major bank would not have records of those withdrawals and perhaps even have video of the withdrawals as I doubt that amount of money was taken via an ATM, which also often have videos of transactions.

[cardinalblue]

My guess it’s an inside job…what is sad here is banks don’t guarantee amount levels when errors mistakes corruption or fraud occurs

 

dangerous to have more than a few bucks in Thai banks

[xylophone]

46 minutes ago, cardinalblue said:

My guess it’s an inside job…what is sad here is banks don’t guarantee amount levels when errors mistakes corruption or fraud occurs

 

dangerous to have more than a few bucks in Thai banks

I agree with your "an inside job" remark, and it reminds me of a similar event two or three years ago, by another well-known bank – – although they knew nothing about it!

 

One of its floor managers (or similar) sent out letters to investors with large amounts in their accounts promising much higher returns than the bank was offering and couched it as being a "special offer which should be kept quiet" or words to that effect, and it was successful because there were many people who invested in this "special offer".

 

Of course it was a scam operated by someone within the bank and customers invested millions of baht in it, however I'm not sure whether the money was repaid because I think initially the bank basically washed its hands of the whole thing saying that it was nothing to do with them! TIT of course.