Greed has a nasty result, there is always a thief waiting to separate you from your money 

On 8/3/2025 at 9:07 PM, wombat said:

Aren't you really trying to ask how an Aussie copper can have so much money on retirement?

I know I sure as sh## would be.

Was he stationed at the Cross or St Kilda?

 

For reference sake; The Police Superannuation Scheme (PSS) established for members of the New South Wales Police Force.

Early Voluntary Retirement:  If you retired on your 55th birthday after 30 years service, on an annual salary of office of $100,000, you would be entitled to a pension of $58,200 (58.20% of $100,000), indexed annually. If you elected to take all of the retirement benefit as a lump sum instead of a pension, the lump sum would be $758,000 (7.58 x $100,000). 

If the pensioner had worked more years, his pension would be larger.   It looks like the victim took his pension as a lump sump and topped it up with other savings.

On 8/3/2025 at 6:24 AM, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

Yah, I thought only high ranking police in Thailand can make 1mil USD+ before retirement, not an Australian

2 hours ago, Patong2021 said:

 

For reference sake; The Police Superannuation Scheme (PSS) established for members of the New South Wales Police Force.

Early Voluntary Retirement:  If you retired on your 55th birthday after 30 years service, on an annual salary of office of $100,000, you would be entitled to a pension of $58,200 (58.20% of $100,000), indexed annually. If you elected to take all of the retirement benefit as a lump sum instead of a pension, the lump sum would be $758,000 (7.58 x $100,000). 

If the pensioner had worked more years, his pension would be larger.   It looks like the victim took his pension as a lump sump and topped it up with other savings.

Your forgetting the major drain on that scenario...he has a TG wife 

On 8/3/2025 at 6:03 AM, Georgealbert said:

 

Pictures courtesy of Khaosod - arrested suspect Alex.

 

A retired Australian police officer has praised Thai police after they arrested a German national accused of swindling him and his Thai wife out of more than $1.1 million in a cryptocurrency scam.

 

Michael 65, expressed his gratitude at Udon Thani City Police Station on 2 August, thanking officers in Thai and presenting flowers to Police Lieutenant Colonel Pattanawong Janphon. “I’m very happy. The police are excellent,” he said.

Picture of the victims.

 

Michael and his 50-year-old wife, Areerut, filed a complaint on 17 July, alleging that the suspect, identified only as 38-year-old “Alex” from Germany, had defrauded them using a fake online trading platform that mimicked a legitimate cryptocurrency investment site.

 

The couple met Alex via social media over a year ago and later travelled to Phuket to meet him in person. Convinced by the professional appearance of the website and the promise of high returns, they invested heavily in the scheme.

Screenshot of the alleged website.

 

But when they attempted to withdraw funds and then lost contact with Alex, they realised they had been conned. The total loss included a significant portion of Michael’s police pension.

 

Police investigators traced the money trail and located the suspect, who had fled his Phuket residence. He was arrested by Immigration Police Division 6 at a fitness club in southern Thailand after failing to respond to a summons. An arrest warrant had been issued on 23 July.

 

Alex now faces charges of computer fraud and public deception. He denies the allegations, claiming his mobile phone was stolen and that he, too, was a victim.

 

Thai authorities are urging others who may have been defrauded by Alex to contact their local police or Udon Thani City Police on 042-221077.

 

  Adapted by Asean Now from Khoasod 2025-08-03

 

 

 

 

Another incident of greed, remember, if it sounds too good to e true, ot probably is.  Lucky their greed didn't ruin them, be smarter from now on.