20 arrested for stealing 223 million from a cooperative in Ang Thong

 

 

ANG TONG: -- Altogether 20 officials and executives of Sam Ko agricultural cooperative in Ang Thong province were rounded up from their homes before dawn on Tuesday by a combined force of police, military personnel and local administration officials for allegedly stealing 223 million baht from the cooperative.

 

Ang Thong provincial governor Veeravuth Putraseranee told a news conference at the Muang district police station that the mass arrest of the 20 cooperative officials and executives capped a thorough investigation after complaints were lodged with the police in 2015.

 

The massive embezzlement dated back to the year 2007 up to 2015. Altogether 239 members of the cooperative have fallen victim to the fraud gang which managed to siphon off 223 million baht from the cooperative through falsifying signatures of the victims to withdraw money or to obtain loans from the cooperative.

 

Full story: http://englishnews.thaipbs.or.th/20-arrested-stealing-223-million-cooperative-ang-thong/

 

-- © Copyright Thai PBS 2017-02-22

Grubs!

  

 

 

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If you steal, steal big, was the wisdom held by some savvy crocks,  but though you have got the loot

now, for the rest of your life you'll be looking over your proverbial shoulders

for the police knocking one day on your door....

The rot started in 2007 so now in 2017 the authorities have finally gotten on to them. All those years and no one had a clue until 2015. Doesn't say much for the audit requirements of such bodies supposedly taking care of other people's money. Seems anything goes in Thailand when it comes to having one's hand in the till. The hub of corruption.

One thing i cannot understand, is why do so many Thai people get involved in so-called co-ops.

How many times have we seen people being cheated out of money by the so -called officers of the co-op, 

forging signatures or simply taking money out then legging it?

It is happening all the time, yet people still get involved.

A few years ago my ex-wife said if we pay 1.000 baht per month to a certain lady, when we need money quickly we can ask for a payout.

I said no way will i get involved in this, but is good idea ex said.

I would not get involved, after a few weeks woman organising things legged it, with maybe 45.000 baht.

 

12 minutes ago, colinneil said:

One thing i cannot understand, is why do so many Thai people get involved in so-called co-ops.

Easy. Greed and the lust for a fast, easy earner.

Edited February 22, 20179 yr by PatOngo

1 hour ago, Brer Fox said:

The rot started in 2007 so now in 2017 the authorities have finally gotten on to them. All those years and no one had a clue until 2015. Doesn't say much for the audit requirements of such bodies supposedly taking care of other people's money. Seems anything goes in Thailand when it comes to having one's hand in the till. The hub of corruption.

Be aware it were the shin governments (and their predecessors)  who did not care about corruption.

Whatever the "democracy" (in quotes) fans say. This government is the first one which is doing something in the right direction.

2 hours ago, colinneil said:

One thing i cannot understand, is why do so many Thai people get involved in so-called co-ops.

 

Well now i understand why Thailand has so many small rice-farmers who don't work for co-ops, they can't trust eachother.

 

Same in restaurants/shops where there's only 1 cashier.

 

This is all caused by the lack of police and severe punishment.

2 hours ago, sweatalot said:

Be aware it were the shin governments (and their predecessors)  who did not care about corruption.

Whatever the "democracy" (in quotes) fans say. This government is the first one which is doing something in the right direction.

Yes due credit to this government. Only 19 years and 5 months now to go before Prayuth has corruption eliminated.

I agree with ezzra if your going to steal steal big don't do a Jean Valjean. For crime to really pay do it once and do it big. 

 

17 hours ago, Brer Fox said:

The rot started in 2007 so now in 2017 the authorities have finally gotten on to them. All those years and no one had a clue until 2015. Doesn't say much for the audit requirements of such bodies supposedly taking care of other people's money. Seems anything goes in Thailand when it comes to having one's hand in the till. The hub of corruption.

there are numerous cases like that in the western world to,......it takes time to make a case !?!?