Chinese fraud syndicate caught after swindling 500 million baht from Thai investors

[snoop1130]

 

A Chinese national believed to be at the helm of a swindling operation, was taken into custody by the Thai authorities alongside ten other members of the fraud gang. The group is accused of soliciting people to participate in a bogus gold investment scheme, alleging its connection with Thailand’s Crown Property Bureau.

 

The illicit operation, which duped victims of around 500 million baht (US$14,213,630) in total, was run primarily from the notorious Kings Romans casino in the Golden Triangle, Laos, the Technology Crime Suppression Division (TCSD) stressed.

 

The alleged linchpin of the operation, identified as 32 year old Teng June, was apprehended in Bangkok’s Bang Khunthian district. In the following days, nine other Thai nationals and one stateless woman involved in the operation were seized in Chiang Rai and Chanthaburi provinces, TCSD commander Athip Pongsiwapai articulated yesterday.

 

At the point of arrest, the police confiscated a comprehensive array of possessions from the criminals, including three luxury vehicles, cash tallying over 5 million baht, 30 gold trinkets, high-range watches, designer bags, computer systems, mobile signals, SIM cards, bank account books, gold certificates, and other mementoes.

 

All the accused were charged with participating in fraudulent activities, inputting inaccurate information into a computer system, and money laundering offences, and are currently being held in police custody awaiting legal proceedings.

 

In the preceding days, the Crown Property Bureau lodged police complaints regarding a group of swindlers who were using the bureau’s name to commence a website coined Royal Gold, aiming to allure people into deceptive gold investment opportunities.

 

Between January and May, hundreds found themselves victims of this swindle, costing around 500 million baht in damages, as revealed by Athip.

 

By Mitch Connor

Caption: Picture courtesy of wirestock

 

Full Story: https://thethaiger.com/hot-news/crime/chinese-fraud-syndicate-caught-after-swindling-500-million-baht-from-thai-investors

 

-- © Copyright Thaiger 2023-06-23

 

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[Gknrd]

If you are going to start a scam. What would be better than a gold scam in Thailand.  Cha Ching

[2baht]

Like shooting fish in a barrel, Thai's are so gullible, tell them there's money to be made and bingo, got them!

[Purdey]

Just the other day, Thailand announced it would make it easier for Chinese to get visas. Nuff said. 

[jacko45k]

16 minutes ago, Purdey said:

Just the other day, Thailand announced it would make it easier for Chinese to get visas. Nuff said. 

Their own greed will be their downfall I suspect. 

[hotchilli]

12 hours ago, snoop1130 said:

At the point of arrest, the police confiscated a comprehensive array of possessions from the criminals, including three luxury vehicles, cash tallying over 5 million baht, 30 gold trinkets, high-range watches, designer bags, computer systems, mobile signals, SIM cards, bank account books, gold certificates, and other mementoes.

Every days a pay-day

[2baht]

1 minute ago, hotchilli said:

Every days a pay-day

Everyone's a winner! ????

[mikebell]

13 hours ago, snoop1130 said:

three luxury vehicles, cash tallying over 5 million baht, 30 gold trinkets, high-range watches, designer bags, computer systems, mobile signals, SIM cards, bank account books, gold certificates,

Prawit has been put on high alert when these goodies are divvied out.

[ross163103]

Winner winner chicken dinner!