Dozens complain over being lured into investing on false promises

[webfact]

Dozens complain over being lured into investing on false promises
THE NATION

BANGKOK: -- SOME 50 people yesterday filed a police complaint at the Economic Crime Suppression Division, accusing a private company of luring them to invest money in a business scheme that did not yield profits or returns as promised.

The division has set up a committee led by Pol Colonel Noppawat Arayangkoon to handle this case.

Lawyer Apinyo Pumnuan told reporters that he represented 2,000 damaged persons, the first batch of whom had filed a police complaint on Monday. He said the company, officially open since February, claimed to be backed by major banks and businesspeople and boasted that its mock-up currency could be used at convenience stores instead of cash, as well as for the purchase of houses and cars.

Chaikorn Sithachai or Thassapong Jittateeraroj, 63, father of actress Pimnipa "Gambum" Jittateeraroj, said he had invested Bt1 million in the company's scheme since February and wanted his money back. Another plaintiff, Jira Polwanna, 42, said he had invested Bt5 million since January but had not received any dividend yet. He said he was told the scheme would bring in foreign currencies and thus yield higher returns than depositing money in banks.

Separately, the police investigation into UFUN's alleged pyramid scheme saw UFUN executive and Web administrator Theerat Prateepritnopas, 38, and his employee Chawisa Jittopas, 28, who were the 44th and 46th wanted persons respectively, surrender at the Consumer Protection Police Division yesterday.

Theerat claimed he was invited by fugitive Arthit Pankaew to serve as a company executive early last year but later decided to help out by serving as an adviser at a salary of Bt150,000, as well as administrating two UFUN websites. He claimed that he did not know anything about the wrongdoings and said he was also being used by UFUN. Police later searched Theerat's office and home in Bangkok's On Nut area but did not find any documentary evidence linking him to UFUN.

Assistant national police chief Lt-General Suwira Songmetta said police investigators had decided to make a case for prosecution of the UFUN suspects and would submit the case report to public prosecutors next Monday.

Source: http://www.nationmultimedia.com/national/Dozens-complain-over-being-lured-into-investing-on-30262640.html


-- The Nation 2015-06-19

[Reigntax]

UFUN must stand 'you give us money, have fun trying to get it back.'

Edited June 18, 2015 by Reigntax

[wellred]

Haha som nom Na. A bit like a farang marrying a local no.

Sent from my iPhone using Tapatalk

[Chupup]

Its all about the cash if you are DUMB enough to invest and get burnt tough ,"if something looks to good to be true" then it probably isn't , wake up there is no such thing as a FREE lunch

[Robby nz]

Theerat, an appropriate name to be mixed up in something like Ufun.

They searched his home and office but did not find any documentary evidence. Of course they didn't he only surrendered after he was sure it was all destroyed.

[tominbkk]

If it sounds too good to be true, it probably is!

[JOC]

Greed and stupidity are clearly not a very good combination.................

[ezzra]

Thai people should stick to the underground lottery and the share's group game they

have been playing for generations, and stop believing that their Thai counterpart, will

not cheat them blind, they will with no qualms about it...

[BudRight]

I wonder if they promised 20 years visas for condos in Pattaya

Edited June 19, 2015 by BudRight

[selftaopath]

Oh what a pity that a Thai would ever be swindled...... boohooooooo TIT.

Or?????? Kharma???? in a very small dose?

[little mary sunshine]

Trust, but VERIFY!!! People still "INVESTING" in new, cheap condos

In Pattaya when most complexes still sit half empty and unsold. Just

Common sense, the bottom is going to fall out soon. They will be on

TV crying too.

[MockingJay]

[Praematura]

Do these people even read the SET filings. Or they just completely ignorant...

[sabaii69]

Same same, just a different screw

[ratcatcher]

Do these people even read the SET filings. Or they just completely ignorant...

Just greedy and looking for a quick windfall.

[The Beguiled]

Amazing Thailand.

Thai's taking advantage of Thai's!

Better than Thai's taking advantage of farangs.

As my dear departed grandmother said "Greed breeds mean deeds" &

"You rule your money:

don't let your money rule you:

Or it will ruin you"

Now waiting to hear about Karma.

Som Nom Na

[JOC]

Amazing Thailand.

Thai's taking advantage of Thai's!

Better than Thai's taking advantage of farangs.

As my dear departed grandmother said "Greed breeds mean deeds" &

"You rule your money:

don't let your money rule you:

Or it will ruin you"

Now waiting to hear about Karma.

Som Nom Na

Did your grandmother die a poor woman..........................

[sanuk711]

Its wonderful to see so many happy posters-----the joyfulness seems to come from , not the fact that a lot were just small investors that have been robbed, but that their nationality is Thai-----strange.................

Edited June 19, 2015 by sanuk711

[Jimlove]

Is there no end to the stupidity and greed here .... ?

[maidee]

5555555555

give your life savings to a new company that builds castles in the sky

when will we hear another story of the money & black liquid ...

[elgordo38]

If it sounds too good to be true, it probably is!

People who saved all their lives are getting desperate as the banks pay you next to nothing. Thats an incentive for these get rich schemes. We live in a sad controlled society. We are awash in printed paper money its like a Monopoly game(loved this game when I was a kid). The people that borrow/spend that do not know how to save are having a field day at our expense borrowing cheap money our money. We the savers who swallowed all that government BS(I am one of them) over the years get nothing. The world has now turned upside down and now spend spend spend is the new normal. Savers just watch their money disappear eaten up by interest rates lower than the rate of inflation. Welcome to the new world order you saver suckers your government loves you.

Edited June 19, 2015 by elgordo38

[ratcatcher]

Is there no end to the stupidity and greed here .... ?

An American's viewpoint?

Thais are not the only people in Gullible's Travels. There's a sucker born every minute all over the world.

In the Untied States of America, Uncle Bernard made off with billion$ (BILLION$) of investors money.

By comparison this Thai scheme was baby potatoes.

https://en.wikipedia.org/wiki/Madoff_investment_scandal

[Jonmarleesco]

'He said the company ... boasted that its mock-up currency could be used at convenience stores instead of cash, as well as for the purchase of houses and cars.' I don't know which boggles more: my mind, or these people's logic.