Bank manager ripped us off to the tune of 40 million baht, say villagers

 

Picture: Thairath

 

PHITSANULOK: -- Villagers in Phitsanulok have appealed to the governor of the province for help after they claimed they were conned by a rogue bank manager.

 

Locals in the Wang Thong district went to the Damrongtham centre to lodge a complaint about Mongkhol Hunphikunthong manager of the Omsin Savings Bank in the town, reported Thairath.

 

Some 40 claimants allege that Mongkhol offered them favorable terms for loans then disappeared with their savings.

 

Losses are thought to be in the region of 40 million baht.

 

The head office of the bank are investigating the alleged fraudulent practices of one of their staff.

 

Monkhol has fled the area leaving many villagers in desperate circumstances.

 

Source: Thairath

 

-- © Copyright Thai Visa News 2017-02-09

 

I know where he needs to go to avoid arrest and share tall stories about thieving from the innocent

Greed that will ruin his life when he is caught.

One would have thought that he would have been on a decent enough salary, to have a better than average lifestyle.

Curious story......40 villagers lose 40 million baht of savings, meaning an average of 1 million baht savings each. On the face of it, this would seem like a lot of money for average villagers in a rural area of Pitsanuloke to have saved.

 

But it says Mongkhon offered them favourable terms for loans before disappearing with "their savings". Perhaps the story should have read "loans" instead......which would imply that they borrowed the money, it was put in their bank accounts and then the dodgy bank manager ran off with their dosh....which was not savings, but a loan from the bank....and should in theory be reclaimable, if indeed Mongkhol ran off with it.

 

Omsin is a govt bank, so he should be a karachagan with lots of links/ties and therefore traceable, with a wee bit of clever sleuthing. 

Omsin Bank clearly has a duty to their customers who put their trust in the bank's representative.

In this case, smiling for the camera is

so inappropriate.... 

Same old story someone in a senior position ripping off people.

Sadly this is a common story in modern living.

People have to get rich quick, no saving slowly for the future anymore.

Just goes to show that the Thais are up to their eyeballs in debt.the bank is responsible for their loss and should sort it out.why do they have to go to big daddy,he's not a civil court.the banks in this country stink,if a cashier decides to empty my life savings out of my account and go buy a house and car I'm in ship street without a leg to stand on being a foreigner.probably be my fault for putting money in Thai bank.anyway 40 mil,nice tidy sum at the baht exchange rate.now the world is his oyster.Bali,phillapines and I bet they haven't put a block on immigration for this man.

1 hour ago, colinneil said:

Same old story someone in a senior position ripping off people.

Sadly this is a common story in modern living.

People have to get rich quick, no saving slowly for the future anymore.

or working hard !

He's probably already in Singapore starting his new life in retirement. A successful career by Thai standards.

Sounds like the same bank manager  I had back in 08/09...................................

Should the Police not be involved in this,shows how much

confidence in them by going to the Governor of the provence, 

this seems to occur often,Bank managers,staff,taking their

customers cash.

regards worgeordie

The deal was you need a million then borrow two. One for me & one for you. They get their loan, give him half. They made their repayments & he ran away. Run Forrest.

4 hours ago, Thaiwrath said:

Greed that will ruin his life when he is caught.

One would have thought that he would have been on a decent enough salary, to have a better than average lifestyle.

 Nooooo,,, He'll blame the 40 for causing him to lose face by getting caught,,,, lol

 

The bank will probably try to weasel out of the stolen loan money

4 hours ago, smedly said:

I know where he needs to go to avoid arrest and share tall stories about thieving from the innocent

Yup, agree, sitting right beside the junta leaders brother, nephew, sister-in-law, all the Hawaii junta junket crowd of forty people for 21 million baht, Suthep, the mad monk, the top cop taking 50 K per month from a booze company, the Rolls Royce jet engine corrupt officials, Blue diamond collective, etc,etc,etc, how's that for a start... 

4 hours ago, plachon said:

Curious story......40 villagers lose 40 million baht of savings, meaning an average of 1 million baht savings each. On the face of it, this would seem like a lot of money for average villagers in a rural area of Pitsanuloke to have saved.

 

But it says Mongkhon offered them favourable terms for loans before disappearing with "their savings". Perhaps the story should have read "loans" instead......which would imply that they borrowed the money, it was put in their bank accounts and then the dodgy bank manager ran off with their dosh....which was not savings, but a loan from the bank....and should in theory be reclaimable, if indeed Mongkhol ran off with it.

 

Omsin is a govt bank, so he should be a karachagan with lots of links/ties and therefore traceable, with a wee bit of clever sleuthing. 

Case solved. Got gettum sheriff.

1 hour ago, catman20 said:

or working hard !

Hard work will never make you rich!

8 minutes ago, hansnl said:

Hard work will never make you rich!

it did me thanks

If it is a loan, then the bank is the one is losing the money as the client cannot be held accountable..is the bank saying they have to pay back the money stolen by one of their own?

 

the client's had yet to take the money out to invest?

 

is this not just a case of employee stealing monies out of customers' accounts?

 

the bank should completely handle the case. My guess is they are not taking responsibility and still holding the customers accountable for stolen funds? Why else would they go outside of the bank?

Governor of the provences here are way Corrupt just like the CopsTIT

5 hours ago, Thaiwrath said:

Greed that will ruin his life when he is caught.

One would have thought that he would have been on a decent enough salary, to have a better than average lifestyle.

No salary ever seems to be decent enough!

5 hours ago, plachon said:

Curious story......40 villagers lose 40 million baht of savings, meaning an average of 1 million baht savings each. On the face of it, this would seem like a lot of money for average villagers in a rural area of Pitsanuloke to have saved.

 

But it says Mongkhon offered them favourable terms for loans before disappearing with "their savings". Perhaps the story should have read "loans" instead......which would imply that they borrowed the money, it was put in their bank accounts and then the dodgy bank manager ran off with their dosh....which was not savings, but a loan from the bank....and should in theory be reclaimable, if indeed Mongkhol ran off with it.

 

Omsin is a govt bank, so he should be a karachagan with lots of links/ties and therefore traceable, with a wee bit of clever sleuthing. 

Don't fall for the image that Thais like to portray as being just poor farmers. Many are rich in land or cash as, farmers or not, they spend little, especially in the countryside - so have substantial savings. Writing as someone who has lived in Thailand 25 years, several years in the countryside and with family who farm. All have land, some buy more, and have new pickups.

4 hours ago, seahorse said:

Omsin Bank clearly has a duty to their customers who put their trust in the bank's representative.

I would think so !

16 minutes ago, TheFishman1 said:

Governor of the provences here are way Corrupt just like the CopsTIT

GOVERNORS

Governors have a lot of power and influence, being the provincial representative of central government.   The intervention in this case is most appropriate, as a government bank is apparently at fault.

In 2,000 we had an excellent Governor in Prachuab Kiri Khan.  I had a problem with the Livestock Dept which threatened the future of my project.   His intervention produced very quick results.

Governors are moved to new provinces (every 3 years I think?) to reduce risk of corruption. 

I think people may be reading the article wrong. I don't think the bank loaned the people the money.  I think the people gave the man or "loaned" the man the 40 million baht and he was then going to pay them back later, probably saying he had good investments in mind that would allow him to pay them back. 

A dishonest banker, surely not.

What I don´t understand is how the bank manager can run away with their savings. Did he lend them the money privately? As I understand it the bank lend the money, and that the saving might or might not be locked in the bank as security against the loans. If the bankmanager then take that and run away. He made a criminal act to the bank, and the bank is responsible for reimbursement to their cutomers. Maybe I am wrong?

Another typical example of the educated,greedy thief,who convinces uneducated villager's of his honesty with their money.I expect that some of those villagers were not willing to express their suspicions because they were bought up not to question the hi so.

'"Trust me,I'm  bank manager,i have all your interests in my capable hands"

7 hours ago, plachon said:

with a wee bit of clever sleuthing

Like your comment till you got to this part and then I knew it would become a dead issue trail gone cold case.