Cyber Crime Investigation Bureau (CCIB) Pol. Col. Krisana Pattanacharoen reported a group of suspects concerned in a Ponzi scheme was busted by Thai police. Secret added that over 1,000 individuals had invested greater than 1 billion baht in the scheme.
The CCIB arrested seven individuals and seized a quantity of assets from two corporations that allegedly operated a Ponzi scheme luring folks to spend money on mushroom, bee, and kratom farming, promising unrealistically high returns, Thai PBS reported at present. The two firms are Mining Mine X Company, and Lak Si Station Limited Partnership.
Krisana stated that between November 2021 and July 2022, the 2 firms set up several mushroom farms in the northeast Sakhon Nakhon province. They invited people to invest in their businesses in mushroom, bee, and kratom farming via advertising. The corporations promised quick and high returns.
Bonanza recruited well-known personalities for their promotional campaign, which claimed that if someone invested 264,360 baht in mushroom farming, they would receive a dividend amounting to 108,640 baht in the third month. Alternatively, in the occasion that they invested 275,000 baht in kratom farming, they’d obtain a dividend of one hundred fifty,000 baht in the eighth month.
Over 1,000 people invested greater than 1 billion baht in the companies, which turned out to be a Ponzi scheme. The firms eventually started to default on paying the promised dividends, main several buyers to file complaints with the police.
Following the complaints, the CCIB launched an investigation and picked up enough evidence to file charges of fraud, illegal lending, and violations of the computer crime regulation towards nine executives, looking for warrants for their arrest. Seven of the suspects have been arrested whereas two remain at giant..