Crime Two Investment ‘Coaches’ Arrested Over Fake Gold Trading Scam

[Georgealbert]

 

Picture courtesy of Matichon.

 

Two self-styled investment “coaches” have been arrested by the Central Investigation Bureau (CIB) for allegedly luring victims into a fraudulent online gold and FOREX trading scheme, resulting in financial losses of millions.

 

Officers from Subdivision 4 of the Economic Crime Suppression Division (ECSD) apprehended the suspects behind the Facebook page “Diamond Trader”, which had been live-streaming videos encouraging viewers to invest in “risk-free” gold trading opportunities. The pair promised returns as high as 10% and guaranteed full refunds of initial capital.

 

However, an investigation revealed that no actual trading took place. Authorities say the duo operated a classic Ponzi scheme, using new investors’ money to pay earlier participants in a short-term cycle designed to build trust. Once suspicions arose, the scammers allegedly claimed trading accounts had incurred losses and cited high tax liabilities as an excuse to withhold repayments.

 

The Economic Crime Division has pledged to pursue full legal action against the perpetrators and warned the public not to fall for investment offers that promise unrealistically high returns with no associated risk.

 

“Such schemes are not genuine investments,” an ECD official said. “They are traps laid by fraudsters preying on people’s financial hopes.”

 

 

  Adapted by Asean Now from Matichon 2025-05-23.