Chaipattana fraud: Thai police nab seven in 1.5 million baht foundation scam

[webfact]

 

Ten people suspected of running a sham investment scheme, donning the name of the distinguished Chaipattana Foundation, have been apprehended by the Thai police.

 

The Chaipattana fraud team caused havoc since 2021, deceiving their victims into believing they were investing in non-existent development projects in the Northeast region.

 

The Chaipattana fraud revelation came from the police’s top boss, the Crime Suppression Division chief, Montree Theskhan, who conveyed the unfolding situation to the press yesterday. According to him, a thorough investigation had led them to the conclusion that ten individuals were integral to the unscrupulous operations.

 

Consequently, the law enforcement officials conducted operations across diverse locations, namely Chaiyaphum, Maha Sarakham, Roi Et, Kalasin, Chiang Mai, Lampang, and Suphan Buri, where the fraudulent activities had transpired.

 

by Mitch Connor 

Photo courtesy of Wassayos Ngamkham/Bangkok Post

 

Full story: https://thethaiger.com/hot-news/crime/thai-police-nab-seven-in-45200-chaipattana-foundation-scam

 

-- © Copyright Thaiger 2023-08-11

 

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[lordgrinz]

It goes without saying, but investing here in Thailand is not a safe bet. Welcome to the 3rd World.

[mikebell]

25 minutes ago, lordgrinz said:

It goes without saying, but investing here in Thailand is not a safe bet. Welcome to the 3rd World.

Agree yet lots of companies willingly yield 51% to Thai shareholders despite their Worldwide reputation for corruption.

[hotchilli]

5 hours ago, lordgrinz said:

It goes without saying, but investing here in Thailand is not a safe bet. Welcome to the 3rd World.

1st world where scams are involved.