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Japanese expats say they lost 30 million baht in retirement visa investment scam


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Now she can open another agency to help these guys out with a loan...

Oh dear I feel sorry for the Japanese victims to this scam, clearly you’re far better off and safer in  a civilised well functioning country as Japan, I don’t get it,  why wasting your time and money

Yup, such things never happen in Japan. Such an honest and well functioning society. https://www.nippon.com/en/japan-data/h00695/

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2 hours ago, webfact said:

The money invested would be used to loan to other Japanese expats who did not meet the 800,000 THB financial requirement needed for a so-called retirement visa.

Just waiting for this loophole too be closed off.  If you do not have the necessary funds to stay here then you should really think about getting the funds necessary or unfortunately find another way to stay, or maybe look at your investments and find a way to obtain the funds.

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1 hour ago, Ramdas said:

Oh dear I feel sorry for the Japanese victims to this scam, clearly you’re far better off and safer in  a civilised well functioning country as Japan, I don’t get it,  why wasting your time and money in Thailand’s land of scams and corruption 🤷🏻‍♂️

Yes all the cracks are opening now 

 

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1 hour ago, KarenBravo said:

Because Japan is outrageously expensive and has a healthcare system like the USA. Insurance driven.

So what’s wrong with that?

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1 hour ago, ThailandRyan said:

Just waiting for this loophole too be closed off.  If you do not have the necessary funds to stay here then you should really think about getting the funds necessary or unfortunately find another way to stay, or maybe look at your investments and find a way to obtain the funds.

You will be waiting a long time , keeps you busy worrying about it 

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6 minutes ago, Ireland32 said:

You will be waiting a long time , keeps you busy worrying about it 

Not for me to worry, just the ones who need that loophole and use an agent to accomplish what they need for their extension of stay.  I myself am set and will never have to use an agent or need to for finance issues, knock on wood.  Only monthly costs I have are the ones for food, utilities, insurance and of course fuel for the vehicles.  Living the dream.  I know a few that live on the edge of a sword financially unfortunately, and are wishing the baht would sink a few, so their exchange rates goes back to where it was and give them breathing room, but then they also have a FD account and hold the funds needed.

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I feel sorry for these guys.  Helping out other Japanese who do not have sufficient funds was certainly a psychological draw as was the Japanese man of the couple.  Perhaps there was a sort of Megan and Harry aspect to the partnership.  The Thai woman may have educated a gullible Japanese man about how to make money in Thailand.

 I was scammed in an investment scam once.  It really hurt for a while: both the humiliation and the loss of money.  My money is now handled by a retirement income investment advisor in NYC and I regularly review my statements and positions.  After fees, I make a little more than 4% per year.  In Thailand, you just don't have any legal protection. Bernie Madoff's victims were able to recover a little bit of their capital due to US laws concerning fiduciary responsibility.  Although even in the US, I have many friends who were bilked out of everything by their financial advisors! Caveat Emptor!

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1 hour ago, natway09 said:

As the saying goes

"If it looks too good to be true, it probably is "

Bit gullible, me thinks

100% Correct. People get caught to the Nigerian windfalls too!

Where ever humans are, there are scammers around. One must gamble ONLY with what one can afford to lose.

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2 hours ago, RichardColeman said:

Most agents to my knowledge put the money in and take it out the same day, I fail to see why these people didn't get suspicious they did not get their 10% and money back the same day. And as for losing 9 million ? I'm not sure if that's greed of lack of brain matter

This does not work anymore. The immigration checks how long you had the 800 and 400 thousand on your account. 

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They will now be served deportation orders for funding illegal activities. a cut for the police when they find the miscreants  and all is sunny in paradise 🤔  

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5 hours ago, Ramdas said:

Oh dear I feel sorry for the Japanese victims to this scam, clearly you’re far better off and safer in  a civilised well functioning country as Japan, I don’t get it,  why wasting your time and money in Thailand’s land of scams and corruption 🤷🏻‍♂️

 

    Quite simple really .

     Sex is far more cheaper in the Thai Kingdom .

     Known as Lady Bar,  cleaner / cashier , etc .

    Japanese , prostitutes are far more expensive ...

     Life goes on . Wants and needs ...

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5 hours ago, tomazbodner said:

Now she can open another agency to help these guys out with a loan...

it is a money laudering.

take for peter to pay paul.

as long as money coming in they can pay the interesr.

at one point, take it all and run

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