webfact Posted January 31 Share Posted January 31 An illicit operation, exploiting the name of royal projects to defraud unsuspecting investors, has been exposed. Six individuals implicated in the scheme have been apprehended, with damages resulting from the con estimated at a staggering 270 million baht (US$7.6 million). The arrests followed a comprehensive search operation spanning Bangkok, Lop Buri, Chachoengsao, Songkhla, and Nakhon Si Thammarat, confirmed Pol Maj Gen Phuthidej Boonkraphue, the commander of the Economic Crime Suppression Division (ECSD), on Tuesday. The investigation was triggered by complaints from eight victims who expressed their concerns to the ECSD’s sub-division 4, after discovering the projects they had invested in were non-existent and the fraudsters consistently deferred paying any dividends. The suspects, ranging in ages from 41 to 60 years old, were identified as Chayawan Kanthong, Wiroj Paehkongseng, Pitchaya Promwee, Singkhon Siriyotha, Kaikaew Channongwaeng, and the alleged ringleader, Jarudech Baibua. The Pathum Thani Provincial Court issued warrants for their arrest, with charges of colluding in loan fraud and misinforming through a computer system to the detriment of others. by Mitch Connor Photo courtesy of Bangkok Post Full story: The Thaiger 2024-01-31 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe 1 1 Link to comment Share on other sites More sharing options...
Elkski Posted January 31 Share Posted January 31 If only 6 victims thats a 40 mil baht average investment. Some big dogs. Link to comment Share on other sites More sharing options...
worgeordie Posted January 31 Share Posted January 31 Offer high unrealistic returns and you will draw in the suckers ....greed gets them everytime ...you would think with all the scams that take place here ,people would learn ,they must have never heard the saying "if it sounds too good to be true" you know the rest... regards worgeordie 1 Link to comment Share on other sites More sharing options...
ezzra Posted January 31 Share Posted January 31 I always said if you want to cheat people, cheat big so it will be worth the risk... 1 1 Link to comment Share on other sites More sharing options...
lordgrinz Posted January 31 Share Posted January 31 Just following in the same steps as the "Royal" Thai Police, exploiting a name to defraud the citizens. Link to comment Share on other sites More sharing options...
stats Posted January 31 Share Posted January 31 3 hours ago, Elkski said: If only 6 victims thats a 40 mil baht average investment. Some big dogs. From the full OP article: "The scam successfully deceived over 900 individuals, resulting in losses amounting to 269 million baht (US$7.6 million)." 1 Link to comment Share on other sites More sharing options...
soalbundy Posted January 31 Share Posted January 31 So they spread Charter out on t' tea table, And John signed his name like a lamb, His writing in places was sticky and thick Through dipping his pen in the jam. Link to comment Share on other sites More sharing options...
hotchilli Posted January 31 Share Posted January 31 4 hours ago, Elkski said: If only 6 victims thats a 40 mil baht average investment. Some big dogs. Link to comment Share on other sites More sharing options...
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