A couple involved in an investment scam in Chiang Rai has been apprehended. The husband, a 36 year old former government official turned investment advisor, and his 37 year old wife, are accused of defrauding investors out of 24 million baht (US$672,457) through their company K1FX Trader Club. The arrests followed a warrant issued by the Nakhon Pathom court after multiple complaints were lodged against the couple.

 

A police task force yesterday, comprising officials from various bureaus led by the Thai National Police’s Commissioner, Major General Thiti Saengsawang, carried out the arrests at a residence in Chiang Rai. The couple was wanted in connection with a warrant issued by the Nakhon Pathom court this year on charges of fraud and conspiracy to defraud the public. The husband is known under the names Ken, Kaothap, and Kanhok. The wife is known as Thanyachanok or Donut.

 

The couple’s company K1FX Trader Club, operating under the banner of Ascension Wealth, had promised investors a minimum 5% monthly return on investment from forex trading while guaranteeing 100% capital protection through an investment insurance policy. This assurance enticed unwitting individuals to invest more than 24 million baht.

 

However, victims found themselves unable to retrieve their funds when the broker that Ken used shut down. Denied access to their account information by Ken, the victims’ attempts to contact him became progressively difficult. Eventually, they received no returns and were unable to make contact, leading them to believe they had been defrauded, reported KhaoSod.

 

By Nattapong Westwood

Caption: Picture courtesy of KhaoSod

 

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Full Story: https://thethaiger.com/hot-news/crime/chiang-rai-couple-arrested-over-24-million-baht-investment-fraud-vowing-5-monthly-roi

 

-- © Copyright Thaiger 2023-06-29

 

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13 hours ago, snoop1130 said:

The husband is known under the names Ken, Kaothap, and Kanhok. The wife is known as Thanyachanok or Donut.

I bet the donut is twitching a bit now.

Seems to be an at least weekly report of multi million baht scams. Isn’t there some sort of Thai SEC?

So I think that works out to 71% annual return.  Should have been a red flag right there.