Report Retired Aussie Officer Loses 40 Million Baht in Phuket Crypto Scam

[suspectdevice]

10 hours ago, GammaGlobulin said:

It could be worse.

 

For example, during the Cultural Revolution in China, many landowners lost everything, and not just their land.

 

And, also, just due to a scam, the scam of Mr. Mao.

 

 

 

And today the education seeking youths in the USA are falling for the extreme left scams and lies whilst the Democrats, the party of the rich, get richer! You are supposed to learn from history!

 

 

 

[gk10012001]

He was promised 5 to 10 % a month!!!  That's 60 to 120 % a year not including any compounding.  I mean, what sort of "investment" was actually proposed?  

[Geoff914]

On 7/18/2025 at 11:57 AM, KhunHeineken said:

40 million baht is about 1.9 million Aussie dollars.  Compulsory superannuation was only introduced in Australia in 1992, and it was something like 6% of your salary, and salaries were low back then.

 

Mmmm.  Seems like "Tom" has managed to accumulate quite a nest egg on a policeman's salary. 

Yes close on a million pounds. In the UK the only way an average person can do that is to sell up property. But when ever I see crypto currency I think scam. Why do these people get sucked it.

[PingRoundTheWorld]

On 7/18/2025 at 1:07 PM, snoop1130 said:

The German expat, with smooth talk and promises of 5–10% monthly profits, lured Reinecke to Phuket for an in-person pitch.

He's a retired policeman - not a kid - why would anyone believe someone trying to sell you on 5-10% monthly profit is beyond me. There are no legit investments that can guarantee such returns. (note I said "legit" - being a loan shark isn't..) It seems these days grown men lose their brain when they hear "crypto" as if it's some magic money-out-of-nothing tree.

[Zakhar]

This fellow is retired police officer, such an irony!

[CLUBBER]

17 hours ago, GammaGlobulin said:

It could be worse.

 

For example, during the Cultural Revolution in China, many landowners lost everything, and not just their land.

 

And, also, just due to a scam, the scam of Mr. Mao.

 

They were subjected to struggle sessions after losing everything....

 

So, it could be far worse....

 

 

Life is so uncertain.

 

One day, you are a landowner, or a millionaire, and the next day....

Almost anything can happen.

 

This is true for all of us, of course.

 

 

communists make nazis and fascists look like amateurs when it comes to genocidal regimes

[Andycoops]

Why couldn't the idiot just sit there and enjoy his 40M baht in a interest bearing account and have a relaxing retirement.

[GoodieAfterDark]

22 hours ago, GammaGlobulin said:

It could be worse.

 

For example, during the Cultural Revolution in China, many landowners lost everything, and not just their land.

 

And, also, just due to a scam, the scam of Mr. Mao.

 

They were subjected to struggle sessions after losing everything....

 

So, it could be far worse....

 

 

Life is so uncertain.

 

One day, you are a landowner, or a millionaire, and the next day....

Almost anything can happen.

 

This is true for all of us, of course.

 

 

 

"By 2030 You will own nothing and be happy" WEF

[GoodieAfterDark]

11 minutes ago, Andycoops said:

Why couldn't the idiot just sit there and enjoy his 40M baht in a interest bearing account and have a relaxing retirement.

 

I guess he had too much free time. Maybe his Thai Daisy convinced him invest into this crypto scam. 

[GoodieAfterDark]

 

8 hours ago, Geoff914 said:

Yes close on a million pounds. In the UK the only way an average person can do that is to sell up property. But when ever I see crypto currency I think scam. Why do these people get sucked it.

 

I have received some offers online to invest in Crypto. They usually send me a message with some bs talk, expecting you to reply. I replied once and that was this beautiful girl living in this mansion and enjoying the good life, driving expensive cars and buying expensive clothes. She even sent a picture of her crotch. When I tried to call her to hear her voice or see her face, she would always find an excuse to refuse my call. And she always insisted to know how I made my money. After I blocked her, I kept getting more and more messages from others with the same catch. 

[thesetat]

This guy was in law enforcement? I did not know they paid out so much to their officers for him to have 40 million baht to invest in this scheme. 

[newnative]

On 7/18/2025 at 7:19 PM, ukrules said:

 

Maybe he sold his house which would have cost very little decades ago and sell for a fortune these days.

Many people working normal jobs have a large amount of money tied up in a house they bought decades ago, mortgage fully paid off, it's essentially money in the bank when it comes time to sell it and retire abroad.

     Agree.  Not long ago I saw an article on Yahoo on the large numbers of Americans who have, at least on paper, become millionaires.  If you have a paid-off home, which many in the US do around retirement age, you're likely already half way there.  When you add in 401ks, stocks, mutual funds, and inheritances, including property, from Greatest Generation parents, many are getting there fairly easily, even those who never had especially high-paying jobs.  

[fredwiggy]

On 7/18/2025 at 5:57 PM, KhunHeineken said:

40 million baht is about 1.9 million Aussie dollars.  Compulsory superannuation was only introduced in Australia in 1992, and it was something like 6% of your salary, and salaries were low back then.

 

Mmmm.  Seems like "Tom" has managed to accumulate quite a nest egg on a policeman's salary. 

Joe Ferrari comes to mind.. 40 million baht you can retire with enough, especially here. No need for greed, but it's common.

[willip]

X policeman!!!

The best conmen. Seems to be honest and reliable!! Ringing any BELLS 🔔?????

[J Branche]

No time to review 5 pages of comments.

 

What I've learned as an investor over past 12 years.

 

STEP into a new investment.  X% over X time.

 

ALWAYS due some Due Diligence 

(Learn and understand basically what the investment is, how it is performing, what your investment performance is advertised as [same or substantially higher rate increases]

 

Ask questions.

How long have you been a financial advisor, investor.

What investment products have you managed and sold?

Where have you worked?

Do you have any financial certifications or qualifications?

 

On the spot ask to see the account, spreadsheets, of the investment.  (Look for if it's Personal or Business Bank Account)  

 

Take some profits if available over the 1st first year.

If someone is managing assets properly you can get paid at end of the settlement date (excluding holidays, sometimes weekends)  Any Delays, how many communications does it take to get paid?

 

Do your own homework.

Crypto, S&P index fund, etc.  How has the general market been performing?  Up X% Down X% what has your investment performance % percentage?

 

Careful of Behavioral Psychology when investing.

FOMO Fear of Missing Out? Investment product is up X% outperforming Most other Investments, if I was ALL in I would've hit the Jackpot.  What is fueling the increase, growth, has it peaked, is it going to Slow and Underperform next X months?

 

Recent News or temporary event that causes an unexpected drop in price or spike in price. (Spike maybe take some profits) 

 

Be Realistic with your % of Profits.  Understand because market has returned X% last couple years it may only return a little or be negative, drop and losses occur.  You can't force the direction of the market to what you want but it historically will rise.

 

Sometimes you'll have cash idle or place in 1,3,6, month No penalty CD ( receive interest usually up till withdrawal, Need to Remove total amount deposited sometimes) 

[DTL2014]

was that the same guy who got arrested in koh phangan at choco villa? should be able to retrieve it - dont give up hope..

[Red Forever]

13 hours ago, CLUBBER said:

communists make nazis and fascists look like amateurs when it comes to genocidal regimes

Ah right, you’re talking about that far left state of Israel aren’t you?

Oh hang on…..

[black tabby12345]

On 7/19/2025 at 2:22 PM, chuang said:

Greed Greed Greed..

 

 

The cop lost fortune by fraud?

He has worked for PD for life.

But hasn't learned anything...

[Straight8]

On 7/19/2025 at 11:05 AM, lordgrinz said:

A greedy fool and his money are soon parted.

Guess you've summed it up.

 

Wondering how long the wife is going to stick around now that he's penniless???

[wavodavo]

On 7/18/2025 at 8:54 PM, CHdiver said:

Pur greed, if it sounds too good to be true....

As my old grandfather used to say ..there is one born everyday.