Picture courtesy of SiamRath.

 

The Department of Special Investigation (DSI) has recommended charges against 12 suspects accused of defrauding investors of more than 35 million baht through a high-interest lending app called Third Credit.

 

The scam, run by a company identified as TC Capital Corp Ltd, lured the public into investing money which was then supposedly lent out through the app. Victims were promised extraordinary annual returns of between 109% and 365%.

 

The case, designated Special Case No. 14/2023, was investigated by DSI’s financial crime division. Police Lieutenant Colonel Anon Untrijan, director of the division, said a team led by Ms. Prim Sariya had concluded that the 12 suspects should be prosecuted for offences including fraud, public fraud and computer crime involving the manipulation of online data.

 

Investigators have identified 221 victims who collectively lost 34,721,557 baht. The case files, comprising 62 volumes with more than 17,000 pages of evidence, were formally handed over on 8 September, to the Office of the Special Prosecutor. Seven of the accused have been detained, while five other suspects remain at large and are the subject of court-approved arrest warrants.

 

DSI Director-General Police Major Yutthana Phaedam said the swift handling of the case reflected the agency’s commitment to transparent and effective investigations. He stressed that tackling large-scale fraud was essential to maintaining public confidence in financial oversight and the justice system.

 

 

  Adapted by Asean Now from SiamRath 2025-09-09

 

 

 

But I can only count 10 in the photo - the other 2 escaped    😎

Bernie Madoff would be impressed.

Average loss was 160,000 Bht. 

Up to 365% interest/profit...........ha ha ha. 

They need the money to pay for psychiatric treatment.