We want our money back - claimants conned on Line owed 30 million in investment scam

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We want our money back - claimants conned on Line owed 30 million in investment scam


Image: Thairath

BANGKOK: -- An investment scam is reckoned to have cost more than100 people a total of 30 million baht on the Line application.

The claimants say that a man called Thotsapon Suphan, 36, defrauded them. Phitsanupong Phromsombat, 37, one of eleven the victims who reported the matter to economic crime police yesterday said that he had invested in a fund through a friend of a friend reported Thairath. He had sent money into a Kasikorn account and had received the agreed returns. This had happened in March.

Then around Songkran he had been contacted about a special offer to invest between 5 - 30,000 baht for ten per cent interest within two days. He invested all his gains from the previous fund. Sixty others did the same but only a fraction of these saw any money,

The rest were fobbed off with excuses until contact stopped entirely and the money was not returned at all.

Police think that the con has netted the fraudster up to 30 million baht.

Investigations and evidence gathering continue with no charges laid as yet.

Source: Thairath


-- 2016-06-14

[Rayk]

The old Ponzi scheme alive and well in Thailand.

[shirtless]

Are these people really blinded that much by greed.

[happy chappie]

I've always said greed is the Achilles heel of Thai people.anyone offering 10% in a matter of days is a red flag investment.i truely hate con artists who prey on the old and not so educated people.if I'm ever offered a deal I just tell them to go see the bank manager.ive seen too many fools parted with their cash in Thailand and I don't want to be one of them.anyway they first have to talk me into it then the wife has to second it and that's where it stops.she does have some good uses sometimes as she won't part with a baht.anyway as John shaw on police 5 used to say 'keep them peeled'. That means keep your eyes open for them that have never watched the show many moons ago.

[Bluespunk]

''Then around Songkran he had been contacted about a special offer to invest between 5 - 30,000 baht for ten per cent interest within two days''

You have to be pretty stupid to believe that.

[thaiduncankk]

It seems like every Tom, Dick and Harry, as well as some of the male population here, are falling for these scams !

[NongKhaiKid]

Most of us will have been brought up on the old saying ' if something's too good to be true it probably is '.

It's never really caught on it seems.

[gk10002000]

People, getting an offer with interest or return > 5%? raise an eyebrow and be cautious. It is so amazing in this internet age where people can go online and get information about just about anything, yet still fall for so many scams. It shows how ignorant so many people are and that just having access to information does not mean one accesses or understands information.

[mcfish]

This one area the west trumps Thailand

[futsukayoi]

10% return in a few days with real interests rates close to zero. Pretty good indication of the level of risk that must be involved.

[Caveat Emptor]

Are these people really blinded that much by greed.

The lure of what seems to be quick, easy money and caution, commonsense goes out the window.

[sandgroper2]

This one area the west trumps Thailand

People in all countries get conned. Do your research before knocking the Thais all the time.

[halloween]

My father told me that big fish are hard to catch, but sharks come to you.

Sometimes I wish I had listened to what my mother told me.

[chainarong]

Depends on the climate of risk , this looks like a deliberate attempt to make more with , as has been stated greed an influencing factor, however I know some that were ripped off by their bank , 2009 , the nice adviser ( Who is now doing time ) indicated a great scheme from an outside investment company based in Queensland , that looked like any other investment ( not a too good to be true sort ) , turned out to be a pyramid scheme, as it wasn't a product of the bank, they were find quarter of a million ,but investors lost their life savings , were left bankrupt , selling farms, homes everything and no refunds, this was the opening for an investigation by the ACCC into this bank , last year the same bank carried 2 billion AUD to payout for bad advice, court ordered payments......................................

[Cloggie]

It looks like I found a new job, didn't know it was that easy to make so much money with Line but I will give it a try.

Any readers want to invest in my new company, I give you 15% interest - guaranteed - no risk involved - you also will get 5% of they money that you friends will invest!!

Please PM me for details....

[oxo1947]

Are these people really blinded that much by greed.

These people ----I take it shirtless that this is another one of your many digs at the Thai race.

Instead of---Are people really blinded that much by greed.....well lets ask the king of them all Bernie Madoff $65 billion. for him.

or 240,500,000,000 baht against the 30 million that These people in Thailand lost.

Wiki gives a breakdown of ponzi schemes in the last century------funny enough hardly any of these people come from Asia.....most of These people that are really blinded that much by greed. Are from American---England & Europe.

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

[mihalis]

Are these people really blinded that much by greed.

Greed likes the whole world !

[casualbiker]

Are these people really blinded that much by greed.

These people ----I take it shirtless that this is another one of your many digs at the Thai race.

Instead of---Are people really blinded that much by greed.....well lets ask the king of them all Bernie Madoff $65 billion. for him.

or 240,500,000,000 baht against the 30 million that These people in Thailand lost.

Wiki gives a breakdown of ponzi schemes in the last century------funny enough hardly any of these people come from Asia.....most of These people that are really blinded that much by greed. Are from American---England & Europe.

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

But amazingly most of us have learnt from that... here they are so insolated they haven't!

[Kabula]

It seems like every Tom, Dick and Harry, as well as some of the male population here, are falling for these scams !

Not only here, but similiar scams worldwide.

You may be in one currently and not even know it!

[The Deerhunter]

The old Ponzi scheme alive and well in Thailand.

Not quite a ponzi scheme but "bait and hook" for greedy people only

[williamgeorgeallen]

another good scheme but no where near as good as the one involving the hot young girl, half you age and a third of you weight, who wants to marry you for the small sum of a 500K sinsot. she is going to throw in free land for you to build a house on to live in together. it is the suckers who fall again and again for this one that really surprise me.

[ratcatcher]

The old Ponzi scheme alive and well in Thailand.

Not quite a ponzi scheme but "bait and hook" for greedy people only

[The Old Bull]

A long way to go to catch up to Bernie

[Rayk]

The old Ponzi scheme alive and well in Thailand.

Not quite a ponzi scheme but "bait and hook" for greedy people only

GIG.jpg

It's a Ponzi.

He was doing the same as every Ponzi scheme before him.

He was promising higher than normal returns and then taking money from new investors to pay the interest to the older investors.

Ponzi 101.

[trogers]

Are these people really blinded that much by greed.

What do you expect from a populace that rubs tree barks or worships freaks of nature for lottery numbers?

[elgordo38]

I've always said greed is the Achilles heel of Thai people.anyone offering 10% in a matter of days is a red flag investment.i truely hate con artists who prey on the old and not so educated people.if I'm ever offered a deal I just tell them to go see the bank manager.ive seen too many fools parted with their cash in Thailand and I don't want to be one of them.anyway they first have to talk me into it then the wife has to second it and that's where it stops.she does have some good uses sometimes as she won't part with a baht.anyway as John shaw on police 5 used to say 'keep them peeled'. That means keep your eyes open for them that have never watched the show many moons ago.

You can take that one step further just look at world stock markets jet fueled on greed only. The engine is starting to sputter so look out for a hard landing. Its just another ponzi scheme on a grander scale.

[sandgroper2]

Are these people really blinded that much by greed.

These people ----I take it shirtless that this is another one of your many digs at the Thai race.

Instead of---Are people really blinded that much by greed.....well lets ask the king of them all Bernie Madoff $65 billion. for him.

or 240,500,000,000 baht against the 30 million that These people in Thailand lost.

Wiki gives a breakdown of ponzi schemes in the last century------funny enough hardly any of these people come from Asia.....most of These people that are really blinded that much by greed. Are from American---England & Europe.

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

And not a one from Oz.

[sandgroper2]

Are these people really blinded that much by greed.

What do you expect from a populace that rubs tree barks or worships freaks of nature for lottery numbers?

Or believe that their gods mum was a virgin, that he could walk on water, he could turn water into wine, etc etc. (almost forgot, he was actually three people rolled into one)

[HerbalEd]

It looks like I found a new job, didn't know it was that easy to make so much money with Line but I will give it a try.

Any readers want to invest in my new company, I give you 15% interest - guaranteed - no risk involved - you also will get 5% of they money that you friends will invest!!

Please PM me for details....

Do you have a work permit?

[Siamwhiteelephant]

Are these people really blinded that much by greed.

These people ----I take it shirtless that this is another one of your many digs at the Thai race.

Instead of---Are people really blinded that much by greed.....well lets ask the king of them all Bernie Madoff $65 billion. for him.

or 240,500,000,000 baht against the 30 million that These people in Thailand lost.

Wiki gives a breakdown of ponzi schemes in the last century------funny enough hardly any of these people come from Asia.....most of These people that are really blinded that much by greed. Are from American---England & Europe.

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

Have you considered that the vast majority of those Ponzi schemes were national and the international ones mostly in English, before the computer age of translated websites and web pages. How many international ponzi schemes in times past were in Thai or targeted Thais and I wonder how many national Ponzi schemes in this past agrarian-based economy were there?