CSD announce billion baht fraud with 1,000 victims - but Mr Big is still on the loose

[webfact]

Picture: INN

 

The Crime Suppression Division along with their economic crime department announced the busting of a gang in a multi-faceted billion baht fraud.

 

There are thought to be 1,000 victims, many of them large scale investors. 

 

The crimes center around a businessman called Prasit who remains at large. 

 

Picture: INN

 

Some of the investments were little more than Ponzi schemes. Others involved investments in bogus tourism companies, co-operatives, and schemes for the buying and selling of brand name products and gold. 

 

High interest rates were promised and paid at first then the criminals stopped paying and did not return initial investments, reported INN. 

 

Picture: INN

 

Six arrest warrant were issued and four arrests have been made. 

 

Nine places were searched as part of the wide ranging inquiry.

 

But Prasit and a key associate remain at large though he is thought to still be hiding somewhere in Thailand. 

 

-- © Copyright Thai Visa News 2021-05-15

 

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[ThailandRyan]

Naïve people make for easy targets. There are no such things as:

8 minutes ago, webfact said:

High interest rates were promised and paid at first then the criminals stopped paying and did not return initial investments

If a bank itself, and then stocks are not showing High profits, then you can sure as hell bet that the promised high interest return will be returned with dust as the scammers take flight.

[RotBenz8888]

16 minutes ago, webfact said:

Others involved investments in bogus tourism companies

A Thai tourist company to turn profitable... that's a scam alright. 

[MaxYakov]

If it's too good to be true, then it probably isn't (true). I wonder how many (greedy?) 'investors' avoided these scammers.

[Artisi]

"Prasit and key associate" - - makes you wonder who the key associate is and why they haven't been named - - wouldn't be hi-so and connected, now would they? 

[John Drake]

Another one?

[bluesofa]

3 hours ago, webfact said:

Mr Big is still on the loose

Don't the CSD realise he died eight years ago, after spending decades in Brazil.

Or is this the second coming?

[dinsdale]

Across the boarder and back to China by now after a tip off from on high.

Edited May 15, 2021 by dinsdale

[Pedrogaz]

Funny how they never get Mr Big isn't it?

[Mr Meeseeks]

Isn't the entire Thai business model to either have a tightly controlled monopoly or just keep taking investors' or taxpayers' money to pay for it all regardless of profitability?

 

????

[carlyai]

On 5/15/2021 at 4:09 PM, dinsdale said:

Across the boarder and back to China by now after a tip off from on high.

My Chinese Pattaya house renters have gone missing. All their gear still there but no people. One month over rent payment due date soon. Phones ring but no answer. Ummmmmm.

[dinsdale]

5 minutes ago, carlyai said:

My Chinese Pattaya house renters have gone missing. All their gear still there but no people. One month over rent payment due date soon. Phones ring but no answer. Ummmmmm.

missing for how long

 

Edited May 21, 2021 by dinsdale

[Susco]

On 5/15/2021 at 3:57 PM, bluesofa said:

Don't the CSD realise he died eight years ago, after spending decades in Brazil.

Or is this the second coming?

 

 

Must be his ghost then.