Thai police bust suspects over Ponzi scheme of over 1 billion baht

Cyber Crime Investigation Bureau (CCIB) Pol. Col. Insane reported a gaggle of suspects involved in a Ponzi scheme was busted by Thai police. He added that over 1,000 people had invested greater than 1 billion baht within the scheme.
The CCIB arrested seven people and seized a quantity of belongings from two companies that allegedly operated a Ponzi scheme luring folks to spend money on mushroom, bee, and kratom farming, promising unrealistically high returns, Thai PBS reported right now. The two companies are Mining Mine X Company, and Lak Si Station Limited Partnership.
Krisana stated that between November 2021 and July 2022, the two corporations set up several mushroom farms in the northeast Sakhon Nakhon province. They invited individuals to invest in their companies in mushroom, bee, and kratom farming by way of advertising. The companies promised fast and high returns.
The companies recruited well-known personalities for their promotional marketing campaign, which claimed that if somebody invested 264,360 baht in mushroom farming, they would receive a dividend amounting to 108,640 baht within the third month. Alternatively, if they invested 275,000 baht in kratom farming, they’d obtain a dividend of one hundred fifty,000 baht within the eighth month.
Over 1,000 folks invested more than 1 billion baht within the businesses, which turned out to be a Ponzi scheme. The firms eventually began to default on paying the promised dividends, leading a number of traders to file complaints with the police.
Following the complaints, the CCIB launched an investigation and picked up enough proof to file costs of fraud, illegal lending, and violations of the computer crime law against nine executives, in search of warrants for their arrest. Seven of the suspects have been arrested while two remain at massive..

44 Responses

Leave a Reply

Your email address will not be published. Required fields are marked *