Jump to content

Police Arrest Operators Behind Pyramid Scheme


george

Recommended Posts

Police arrest operators behind pyramid scheme

BANGKOK: -- The Special Investigation Department (SID) has arrested six suspects for allegedly running pyramid schemes that preyed on more than 800 victims.

The SID is now going after 10 other suspects, including those operating two legal entities, who were also involved in the scams.

Justice Minister Suwat Liptapanlop yesterday said the pyramid schemes had resulted in victims losing more than Bt28 million. “This involved two separate gangs,” he said.

The heads of the first gang were identified as Sujira Suchatanan, 42, and Suchart Phaet-udom, 38. They are alleged to have established Star One Karnfaifa Ltd Partnership in Pathum Thani as a front and to have successfully lured 400 people into buying shares in the business.

The suspects claimed they sold electrical appliances for a large profit. Those who wanted a share in the company had only to pay Bt4,690. Each share entitled the holder to collect Bt10,000 every 30 days, and more promises were made to holders if they bought several shares or were successful in persuading others to buy shares.

“The paid dividends were from new buyers. In fact, this partnership didn’t do any business,” Suwat said.

He said Sujira and Suchart managed to obtain Bt19.8million from their victims. The two suspects are now facing public-fraud charges.

The second gang comprised 14 suspects including legal entities Erawan Food Network Co Ltd, and Suphanchat Ltd Partnership. Of the second gang, Utis Limmangkorn, 44, Preecha Nonluecha, 34, Wanlanares Suvanam, 31 and Rungsak Mingsorn, 62 have already been arrested.

Arrest warrants have been issued for the other suspects.

The SID cracked down on the second gang after finding that the two legal entities had lured more than 400 victims into paying Bt10,550, with a promise to pay the victims Bt9,000 every 15 days for the rest of their lives.

--The Nation 2005-06-18

Link to comment
Share on other sites

lured more than 400 victims into paying Bt10,550, with a promise to pay the victims Bt9,000 every 15 days for the rest of their lives.

PHEW!... I'm so glad they caught them, as I would have likely fallen prey as their next victim after hearing their sales pitch mentioning those kinds of return on my investment... I mean... wouldn't you jump at it too? :o:D

Edited by sriracha john
Link to comment
Share on other sites

That must be similar to the one I went into :o  Funds in hand next week

I'm dealing with a reputable HK banker. He has an account belonging to a (dead) Iraqi military officer, with no will or dependants.

All I have to do is give him my bank account number and I'll get 7.4 million US $ !!

(do people actually fall for these ridiculous scams ? Tthey must, otherwise there wouldn't be so many people trying to run the same scams over and over again)

Link to comment
Share on other sites

They only have to find .000000001% that are sucker enough to make a living. Thank goodness I won the British lottery and am waiting the transfer to my visa card any day now or I might be tempted too......

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.








  • Topics

  • Latest posts...

    1. 82

      Does Donald Trump Have Dementia?

    2. 116

      Kamala Harris Expresses Openness to Exploring Reparations for Slavery

    3. 251

      What’s the best area in Thailand for expats to settle for long-term living?

    4. 251

      What’s the best area in Thailand for expats to settle for long-term living?

    5. 37

      Thailand to borrow 2.59 trillion baht for 2025 budget

    6. 2

      Thailand Live Saturday 21 September 2024

    7. 461

      I Love Donald Trump

    8. 0

      Baht's biggest surge since 1998 poses risk to tourism and Exports

    9. 16

      Common reporting standard (CRS) information

    10. 19

      High cholesterol as a pre-existing condition?

    11. 27

      Truth social is the future! Buy now while it's on sale.

    12. 4

      Vehicle Crashes into Canal, Woman Found Dead Inside

    13. 0

      Rotterdam Stabbing Rampage Knifeman shouted "Allahu Akbar"

    14. 0

      More Than 70,000 Soldiers Fighting for Russia Have Now Been Killed

    15. 0

      Former C.I.A. Officer Sentenced to 30 Years for Sexual Assault and Drugging Women

×
×
  • Create New...
""