US Embassy Bangkok asked to check banknotes found in deposit boxes

[webfact]

CRIME
Embassy asked to check US banknotes found in deposit boxes
The Nation

BANGKOK: -- STAFF from the US Embassy in Bangkok have been asked to check questionable US-dollar banknotes found in deposit boxes owned by fraud suspect Supachai Srisupa-aksorn, the former chairman of Klongchan Credit Union Cooperative.

The Department of Special Investigation and embassy staff will meet tomorrow to authenticate the US "money".

Notes with supposed face value of US$1 million and a Dutch note with "value" of 1 million euros were found in deposit boxes at his personal offices at U-Tower building in eastern Bangkok, said Somboon Sarasit, a senior DSI agent.

The DSI "froze" documents such as land title deeds, bonds, money orders and a large number of foreign banknotes found in the boxes. These assets will be seized and changed into money that will be returned to many cooperative clients hit by Supachai's alleged embezzlement of their savings.

Also found in Supachai's possession were permits for gold mines and logging, documents for a project for an military training field with Laos' Defence Ministry in return for some 200,000 cubic metres of wood, plus money orders issued on behalf of a cooperative affiliated with Klongchan, Somboon said.

Source: http://www.nationmultimedia.com/national/Embassy-asked-to-check-US-banknotes-found-in-depos-30262471.html


-- The Nation 2015-06-17

[ezzra]

This Supachai guy can easily go down in Thai history of fraud and embezzlements as the

Thai version of Bernie Madoff.. and all that was done in cahoots and under the noses

of dozens of people....

[NanLaew]

I am eager to learn of the validity of the $1,000,000 bill as I have several of these that are held as a security against a substantial loan I have made to a friend in the Pattaya condo construction business.

But I know for a fact that there's no such thing as a €1,000,000 bill as I hold several €500,000 bills, again as surety against another loan to another friend dealing in the Phuket real-estate market. When I asked him about them, he told me they were the largest, legal denomination.

I even have some ฿1,000,000 notes but nobody seems too interested in them.

[blackcab]

England has £1 million and £100 million notes. They are used for internal Bank of England use only.

They are legal tender, just never issued.

[atsiii]

I am eager to learn of the validity of the $1,000,000 bill as I have several of these that are held as a security against a substantial loan I have made to a friend in the Pattaya condo construction business.

But I know for a fact that there's no such thing as a €1,000,000 bill as I hold several €500,000 bills, again as surety against another loan to another friend dealing in the Phuket real-estate market. When I asked him about them, he told me they were the largest, legal denomination.

I even have some ฿1,000,000 notes but nobody seems too interested in them.

I was under the impression that the largest USD denomination printed was $100.

[BuaBS]

"" Notes with supposed face value of US$1 million and a Dutch note with "value" of 1 million euros were found in deposit boxes at his personal offices ""

So he's a prepper , all ready for the hyperinflation that eventually will come.

[Lee4Life]

I am eager to learn of the validity of the $1,000,000 bill as I have several of these that are held as a security against a substantial loan I have made to a friend in the Pattaya condo construction business.

But I know for a fact that there's no such thing as a €1,000,000 bill as I hold several €500,000 bills, again as surety against another loan to another friend dealing in the Phuket real-estate market. When I asked him about them, he told me they were the largest, legal denomination.

I even have some ฿1,000,000 notes but nobody seems too interested in them.

I was under the impression that the largest USD denomination printed was $100.

You were under the correct impression

[fritzzz25]

This Supachai guy can easily go down in Thai history of fraud and embezzlements as the

Thai version of Bernie Madoff.. and all that was done in cahoots and under the noses

of dozens of people....

This fella did a good work over on the Thai banking system himself. https://en.wikipedia.org/wiki/Rakesh_Saxena

He was "holed up" in Vancouver for years in his house, and still doing frauds while on his "house arrest". My former room mate was a security guard who had to remain in Saxena's house to ensure he didn't leave the house (bail conditions were that he pay for his own "babysitter"). They had to listen in to all his calls as well. He always spoke in some sort of code to his contacts".

[BritTim]

I am eager to learn of the validity of the $1,000,000 bill as I have several of these that are held as a security against a substantial loan I have made to a friend in the Pattaya condo construction business.

But I know for a fact that there's no such thing as a €1,000,000 bill as I hold several €500,000 bills, again as surety against another loan to another friend dealing in the Phuket real-estate market. When I asked him about them, he told me they were the largest, legal denomination.

I even have some ฿1,000,000 notes but nobody seems too interested in them.

I was under the impression that the largest USD denomination printed was $100.

Amazingly enough, while the largest denomination printed since 1945 is US$100, larger denomination notes up to $10,000 have been printed in the past and are still technically legal tender. Over 300 $10,000 notes are still known to exist.

[MrY]

I am eager to learn of the validity of the $1,000,000 bill as I have several of these that are held as a security against a substantial loan I have made to a friend in the Pattaya condo construction business.

But I know for a fact that there's no such thing as a €1,000,000 bill as I hold several €500,000 bills, again as surety against another loan to another friend dealing in the Phuket real-estate market. When I asked him about them, he told me they were the largest, legal denomination.

I even have some ฿1,000,000 notes but nobody seems too interested in them.

I was under the impression that the largest USD denomination printed was $100.

You were under the correct impression

Partially correct, it is the largest one available to the public and still being printed. $500, $1000, $5000, $10,000, and $100,000 all have been issued and some remain in collectors hands. ($100K was a "reserve note" never released.)

[elgordo38]

England has £1 million and £100 million notes. They are used for internal Bank of England use only.

They are legal tender, just never issued.

If we ever return to days like the Weirmar Republic these should come in handy to buy a loaf of bread. I see this as a distinct possibility.

[NickJ]

I saw the episode of Cajun Pawn Stars where a guy pawned a 5000$ bill for 20,000had the match number to it in 10,000$......The set is worth $750,000 or more.

[tx22cb]

I have some Nigerian friends who also have large-denomination notes, and who are willing to exchange them for a true bargain.

[Ulic]

Canada recently withdrew it's 1,000,000.00 dollar bill. (Used for inter

governmental transfers, back in the day) They also withdrew the 1,000.00

bill from circulation. I was transferring accounts and withdrew 20K once.

The bank asked if I minded large bills as it was going bank to bank.

I said no and they gave me 20 x 1k bills. Some were from the 50's and

60's. All were pristine having really never really been in circulation.

I asked the bank what they were used for. They told me mostly Grand parents

giving grandkids birthday/Christmas/graduation etc.. money.