6 Foreigners Arrested In Online Investment Scam

[oops]

Thanks for this story. I've been looking for investments and I'll stay away from these local deals. As soon as I get that really big deposit from that nice Nigerian guy, I am going to invest some of it!

Wow this is too weird.....I just sent all my banking details to a Nigerian guy so he could deposit my winnings. 

As soon is I get my money I going find this guy Paul I think he would really know how to make my money GrOw....?   

[oops]

Ok, off topic, sorry, but it is biz related:

Isn't Amway, as an MLM, supposed to do all their biz on a person to person level?

If so, how come they have large stores in many Thai cities? I don't think that would be allowed in the States, where the company originated.

I don't think your off subject..I mean after all we were talking about criminals weren't we..? It is even possible that this same guy  Paul works there.....but I think he is in hiding right now........

[tombkk]

The most disgusting part of all of this, is that this guy wasn't operating alone. Obviously those staff members were not going after Thais. The question remains where did they get the phone numbers from?

They weren't just randomly dialing hoping to get a farang on the line. They were probably sold a list of phone numbers from someone.

Last year I was getting a lot of phonecalls from investment companies. I'm fairly certain the only organization that had my number was my bank. The purple one.

I hope someone would run down this side of the equation, but I really doubt it will ever happen.

You may note that many advertisments that appear in your browser are uncannily relevant to your emails. Nearly every free "whatever" that you sign up to online requires a phone number...Why?...Because those phone numbers are sold on.

I periodically open a new email account with yahoo in order to sign up to some websites, using a fake but believable phone number. Of course, you get all the scam emails, but you don't get the phone calls.

What they do to get the phone numbers is to get a copy of the membership lists of the foreign chambers of commerce. Sometimes they have to become a member first, which is a small investment compared to the potential profits. I am a member of several chambers, and I receive phone calls of this kind all the time. It's a standard thing of doing business, a nuisance but difficult to get rid of. I usually tell them politely that I am not interested and hang up after some pleasantries. However, some call back again (be it from within Thailand, or from Cambodia or the Philippines), and they will hear that I do not appreciate them calling to me. A sharp "Lose my phone number" was the hardest I said to this (one) person who called back a third time. I have no idea how stupid one must be to call a third time.

But then, they are only trying to make a living. I am sure some readers here at TV are in that business. If anybody invests with them without applying due diligence on their companies, they can't be helped: Some expats here are making more money than they can handle, and these people just relieve them of their burden.

Ethical (on the part of the callers): NO.

Somnamna (on the part of the people who invest money with them): YES.

[phil2]

6 foreigners arrested in online investment scam

Crime Suppression Division police have arrested four Britons, a Filipino woman and a French man for having allegedly deceiving foreign investors to buy stocks online and cheated them.

Pol Maj Gen Panya Mamen, deputy Central Investigation Bureau commissioner, said the six foreigners were arrested at a house on Soi Thonglor while deceiving foreigners to invest in stock markets through Internet.

Police seized seven desktop computers, six notebook computers and 31 mobile phones from the house.

Information from the seized computers showed that they had deceived the investors to invest over Bt100 million in fake firms.

The foreigners claimed that they were hired by a man identified only as Paul for Bt30,000 to Bt50,000 a month to make phone calls.

-- The Nation 2009/09/19

This is what some westerners do in offices rented all over Bangkok.

Myself and a friend from Scotland met with an Australian a couple of years back, and I was introduced to the Australian. After discussing for about half an hour, he said, "You are different from the Nigerians that send fraudulent e-mails around."

My friend from Scotland said, "Well, I worked for an agency owned by an Australian making fraudulent phone calls to people all over the world here in Bangkok about eight years ago, and there are many such offices operating out of offices all over Bangkok."

He said he was paid 45,000 baht monthly plus bonus, as at then.

I also know a Mongolian that's been working for one such agency here in Bangkok, for more than a year now earning about 50,000 baht monthly.

[phil2]

Thanks for this story. I've been looking for investments and I'll stay away from these local deals. As soon as I get that really big deposit from that nice Nigerian guy, I am going to invest some of it!

Wow this is too weird.....I just sent all my banking details to a Nigerian guy so he could deposit my winnings. 

As soon is I get my money I going find this guy Paul I think he would really know how to make my money GrOw....?   

I'm a Nigerian, and I'm really pissed with you guys talking about Nigerians here. What has the topic got to do with Nigerians. You guys do fraud, you rob banks, you sell dope, and yet you keep talking about Nigerians. Did the original post have anything to do with Nigerians. If you can't read, go back to school, and if you've got nothing to post, just SHUT UP.

[Screws]

Timing seems very "convenient", just when everyone is talking about tourists being scammed by Thais, out comes the story of foreigners scamming in Thailand, looks like it's easier to arrest scamming foreigners than scamming Thais !!!

Was thinking that myself - were they keeping it up the sleeve for times such as now? 'Trouble in Thailand!'

Very Asian thing to do ;-)

[DickFarang]

Which visas did they have ?

Did they have work-permits ?

[DickFarang]

Is that “Paul” (if he exists) a farang ?

I don’t read that in the article.

[skorchio]

The most disgusting part of all of this, is that this guy wasn't operating alone. Obviously those staff members were not going after Thais. The question remains where did they get the phone numbers from?

They weren't just randomly dialing hoping to get a farang on the line. They were probably sold a list of phone numbers from someone.

Last year I was getting a lot of phonecalls from investment companies. I'm fairly certain the only organization that had my number was my bank. The purple one.

I hope someone would run down this side of the equation, but I really doubt it will ever happen.

well, interesting. I had a call last year from someone (he was a pomme) who knew 1: my number 2: my name. 3: I lived in Phuket. I was on the golfcourse when the phone rang, and only for I was expecting a call from home, I wouldn't use the phone on-course. Anyway, I was so dam_n angry at getting a pitch about retirement plans. I demanded how he know my number. He told me that an agency in BKK provides names and numbers - he said he was located in Phuket. I hung the phone up as he was continuing his pitch, and then snap hooked my drive OB.

As for my phone number, my purple bank has it, and the local airlines (all of them). AIS don't know who I am, but probably not so difficult for them to figure out that I speak English and live in HKT.......

[eggomaniac]

The foreigners claimed that they were hired by a man identified only as Paul for Bt30,000 to Bt50,000 a month to make phone calls

The police simply need to ask the four Brits who the ringleader was and I'm sure the entire matter will be resolved in no time.

They did. He's called Paul. But somehow I think he is a lot smarter than the people he hired to do the calling.

I wonder if the 'employees' had WPs? Is it possible they thought they were doing a real job?

[Jimjim]

These seem to crop up every few years

Every few years? Try every single day this is going on somewhere in Bangkok. Perhaps you only notice a news story about a bust every few years. Scamming Boiler Rooms are rampant in Bangkok and will be for a while.

[PAUL1774]

it was not me

[Phatcharanan]

Thanks for this story. I've been looking for investments and I'll stay away from these local deals. As soon as I get that really big deposit from that nice Nigerian guy, I am going to invest some of it!

Well I will be doing the same once my Administration fees cheque has cleared in Lagos. I admit that I was a little concerned over the fact that the fees totalled 12,000 US but there again......its a cool return for 3 million. Hahahahhaha!

PS. The woman in Lagos expects me to refund 20% of that to her personal account but (tee hee hee) I am going to keep it all.

Edited September 19, 2009 by Phatcharanan

[IvanDobsky]

Thanks for this story. I've been looking for investments and I'll stay away from these local deals. As soon as I get that really big deposit from that nice Nigerian guy, I am going to invest some of it!

Wow this is too weird.....I just sent all my banking details to a Nigerian guy so he could deposit my winnings.

As soon is I get my money I going find this guy Paul I think he would really know how to make my money GrOw....?

I'm a Nigerian, and I'm really pissed with you guys talking about Nigerians here. What has the topic got to do with Nigerians. You guys do fraud, you rob banks, you sell dope, and yet you keep talking about Nigerians. Did the original post have anything to do with Nigerians. If you can't read, go back to school, and if you've got nothing to post, just SHUT UP.

whatever you think, Nigeria's reputation precedes it. Tis the home of scam. Sorry but true

[Phatcharanan]

Thanks for this story. I've been looking for investments and I'll stay away from these local deals. As soon as I get that really big deposit from that nice Nigerian guy, I am going to invest some of it!

Wow this is too weird.....I just sent all my banking details to a Nigerian guy so he could deposit my winnings.

As soon is I get my money I going find this guy Paul I think he would really know how to make my money GrOw....?

I'm a Nigerian, and I'm really pissed with you guys talking about Nigerians here. What has the topic got to do with Nigerians. You guys do fraud, you rob banks, you sell dope, and yet you keep talking about Nigerians. Did the original post have anything to do with Nigerians. If you can't read, go back to school, and if you've got nothing to post, just SHUT UP.

whatever you think, Nigeria's reputation precedes it. Tis the home of scam. Sorry but true

This is true.........having worked in Lagos and Abuja. Even the locals think the government sucks and they can't wait to leave.

[ronz28]

I have no sympathy for fraudsters. Fraudsters should be locked up and you can throw away the key.

[thailand4tour]

Practical expressions of greed.

There may be greed if you:

...keep "wish lists" of desired objects to purchase.

...can't say "no" when offered money to do a job.

...are always seeking ways to make more money.

...feel resentment when someone acquires what you would like to have

...have fallen for several "get rich quick" schemes. ...joined a multi-level marketing?

...are disturbed after losing a relatively small amount of money.

...become perturbed when you purchase an item and find it cheaper elsewhere.

...feel good and find relief in going shopping.

...would rather have a high paying job than one which is interesting and rewarding

...despise paying taxes and have sympathy for those who find ways to avoid such.

...feel uneasy around people who are wealthier than you.

...make disparaging remarks about people who are rich.

...engage in the "one-up-man-ship" of topping another's accounts of acquisitions.

...go to an "all you can eat" buffet and feel obliged to eat as much as possible to get

your money's worth.

...give something wanting to be properly credited or reciprocated.

...drive through neighborhoods with exclusive homes yearning to live in such.

...ponder how much it is going to cost when a family member gets sick.

...feel imposed upon when one of your children asks for money to buy something.

...insist on controlling the family finances and the checkbook.

...argue with your mate about how much they are spending on personal items.

...brag about the "bargains" you got, how "thrifty" you are, or how little you paid for

something.

...boast of how clever you were in getting the best of another in a business deal.

[Muppetbkk]

The people at the top of these scams have so much money they don't need to be worried about being kicked out of Thailand...last time it happened only the 'innocent' call makers were deported while the big fish ened up being let off. Most farangs who have been here a while know who these people are.

[Brigante7]

.....they had deceived the investors to invest over Bt100 million in fake firms...

Anyone who invests in a company without checking that it exists, deserves to be parted from their money.

Bit harsh, sometimes people make poor rash decisions without first checking the facts, but hardly deserving of being scammed from their hard earned money

Oh, a skin rash decision. We don't want people to do those...

Seriously, not too smart to invest in non existing companies cause some stranger called you and told you to do so.

Whenever I get a call from these eejits I just string them along for a while everytime and pretty soon the calls stop.

Brigante7.

[bkkbound04]

i want to see the picture now, i was offered this work along with another expat when we were in pattaya, it was a brit regular who travelled down at the weekends from bkk, i'd say he was on a lot more than 50k per month judging by his spending habbits, same story though, worked in bkk in a "boiler room" selling fake shares...honestly, i was interested in earning some cash with the amount he was spending until i heard that it was through scamming others and then kept my distance..the other expat felt the same as myself that it was disgusting behaviour in that it was robbing people of their life savings and could have been either 1 of our parents...i want to see the photo's & see if it's the same guy

throw the book at them all...it's not unkonwn & they were fully aware of what they were upto & i'd guess they were earning more than has been quoted too

[shotover]

. . . My only question is where did the Phillipa woman come in? Also most of the guys were Britts so I'm pretty sure one of them knows where he lives and he's probably a Britt himself.

Lee

Filipina women are often used in these schemes because many speak English fluently, they are quite happy to work for 20-30,000 baht monthly, and some older, wealthier men are very receptive to conversing with young Asian females.

[miruph]

.....they had deceived the investors to invest over Bt100 million in fake firms...

Anyone who invests in a company without checking that it exists, deserves to be parted from their money.

Bit harsh, sometimes people make poor rash decisions without first checking the facts, but hardly deserving of being scammed from their hard earned money

A FOOL AND HIS MONEY ARE EASILY PARTED --- NUF SAID

Really enough said. Do you know the game well?

Good for you!

Share your experience.

Not everybody has a mistrust in people of their own origin and the world would be a total mess if they would.

All the long stayers here often talk bad about good people and call them stupid.

Better help them and found an organisation which help them instead of call them fools.

Fools are these idiots got busted and got the pay of an English teacher (being the other ones offended too much on here).

Have you forgotten about your first experiences?

Often people don't know how much it changed in the last decades.

I remember the seventies and till now I haven't had a single problem

Newcomers might have same problems as the ones who wasn't here for a longer time.

Please don't shout, better help and do some positive to make the situation less dangerous.

Socialise with the wrong people is the problem nowadays.

Fortunately there are some remaining honest persons.

Yes I know use common sense, bla, bla....

What citizenship has "Paul" is the question.

m

Edited September 19, 2009 by miruph

[chiangdan]

6 foreigners arrested in online investment scam

Crime Suppression Division police have arrested four Britons, a Filipino woman and a French man for having allegedly deceiving foreign investors to buy stocks online and cheated them.

Great one.

Foreigners can't cheat foreigners in Thailand.

scamming is reserved for Thais, don't want bloody farangs moving in on the market. Did they have work permits>

[CaptainNemo]

Timing seems very "convenient", just when everyone is talking about tourists being scammed by Thais, out comes the story of foreigners scamming in Thailand, looks like it's easier to arrest scamming foreigners than scamming Thais !!!

Exactly... about the only pertinent post in the thread in response to this; the rest is for the birds.

[sendit2jj]

.....they had deceived the investors to invest over Bt100 million in fake firms...

Anyone who invests in a company without checking that it exists, deserves to be parted from their money.

Bit harsh, sometimes people make poor rash decisions without first checking the facts, but hardly deserving of being scammed from their hard earned money

A FOOL AND HIS MONEY ARE EASILY PARTED --- NUF SAID

Because any cliche' you hear MUST be true. My favorite sayings are the ones that rhyme...those are guaranteed to be true, because hey...they rhyme.

Every situation and everyone is different.

[miruph]

Timing seems very "convenient", just when everyone is talking about tourists being scammed by Thais, out comes the story of foreigners scamming in Thailand, looks like it's easier to arrest scamming foreigners than scamming Thais !!!

Exactly... about the only pertinent post in the thread in response to this; the rest is for the birds.

Common knowledge

Edited September 20, 2009 by miruph

[bkkbound04]

so what's new? corrupt thai police giving up some lower end criminals to take the heat away from the actions they are permitted to do daily...

ime this fake shares scam was happening over 3 years ago & it had been going a while back then as well, i haven't seen any posts on here to say they'd been stopped so i imagine it's a lot of money they've been earning but what's new? thailand is full of western criminals either laundering the money through fake companies or having numpties investing thier newly aquired bank loans to get a share of the action and a work permit lol there's some decent thai's and westerners in thailand but too many ejits on the western front either wannabe criminals, ex m15...wanted criminals that tell everyone they're wanted or just the losers that don't have a life in the west and love the feeling of power that thier money brings them, then you've the downright perverts that like to exploit the thai people lol this site will have it's fair share too so until a better type of tourist is attracted to thailand the thai's scamming the dafties that let them away with it are fair game e.g just pay the 500b fine and remember it's not your country brigade lol they're the numpties that let people steal thier dinner money or that thier partners cheated on back home & they'll always be a victim wherever they settle

[yachtbigsmile]

.....they had deceived the investors to invest over Bt100 million in fake firms...

Anyone who invests in a company without checking that it exists, deserves to be parted from their money.

Silly to think that anyone "deserves" to be defrauded, you must realize that people are very good at a scam or would not be there

[marsteele]

Oh, and I have a bridge in Brooklyn to sell you.

Caveat emptor in spades.

You liar I bought that last week

[seri thai]

Name of the company please?

As some investment-firms have recently been calling my office a lot and asking to come and give consultation-meetings which I have always declined...

I had a call 2 days ago and declined immediately. May or may not have been legit. Question is, where do they get fahrang phone numbers from? Thai internet forums perhaps?