Final suspect in Thai counterfeit bond scam apprehended by OIG

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The Office of Inspector General (OIG) apprehended the final suspect involved in a counterfeit bond scheme. The gang collaborated with fraudulent money-lenders to deceive prominent owners of guesthouse businesses, by soliciting payment for the approval of large loans. This culminated in the arrest of 64 year old man yesterday under the charge of currency counterfeiting.

 

The arrested individual, Thanakrit, is accused of conniving with three other individuals identified only by their first names – Hongyok, Santinan, and Napat. The accomplices managed to convincingly orchestrate a plot against Thanakrit to gain his trust.

 

Once aware that Thanakrit needed capital for renovating his guesthouse, they assured him that they had connections with a group of investors who could lend large sums of money. The only condition is a pre-emptive service fee needed to be paid to this investor group. A contract negotiation was scheduled at a hotel near Vibhavadi Rangsit Road in Bangkok.

 

During the meeting, these fraudsters displayed government bonds worth 600 million baht (US$17,584,992) to evince their financial credibility. Tricked by this charade, the victim agreed to transfer 840,000 baht (US$24,619) as a service fee. Post transaction, the victim failed to secure the agreed-upon loan. Suspecting foul play, he decided to verify the government bond numbers with Thailand’s central bank, only to discover they were forged, reported KhaoSod.

 

By Nattapong Westwood

Caption: Picture courtesy of MGR Online

 

Full Story: https://thethaiger.com/news/national/final-suspect-in-thai-counterfeit-bond-scam-apprehended-by-oig

 

-- © Copyright Thaiger 2023-07-19

 

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