Chon Buri pyramid scheme fraud costs victims 40 million baht
More than 30 victims have reported a significant fraud involving a pyramid scheme after being deceived by a group leader known as Mae May. The victims, who have suffered a total loss of 40 million baht (US$1.17 million), gathered to file complaints at Saensuk Police Station, Chon Buri, yesterday, December 23. The fraudulent activities have left many individuals in financial turmoil, with some losing as much as 5.5 million baht (US$161,050).
Victims have presented evidence, including bank transfer slips and chat logs, demonstrating their engagement with the scheme. Some slips indicate transactions as high as 75,000 baht (US$2,195) for the purchase of a stake in the pyramid scheme, which was intended to generate ongoing returns. The scheme was managed by Jutirak, also known as May.
Thitima, a 37 year old woman, shared her experience, revealing a longstanding friendship with May that involved regular participation in the pyramid scheme. She expressed that trust and familiarity led her to invest further.
However, the expected returns never materialised, prompting the victims to come together and discover the extent of the fraud.
“We’ve come forward today to hold May accountable and demand the return of our money. Many of us are facing severe financial difficulties, with some resorting to borrowing money and others experiencing family conflicts due to the lost investments.
We urge May to come forward and negotiate. It would be better to discuss rather than disappear like this. If she doesn’t return, we will pursue legal action to the fullest extent, as we’ve already given her a chance.”
Nui, a 37 year old woman, reported consistently participating in the scheme with May without previous issues or deception. The scheme operated under typical conditions, involving interest returns.
Recently, however, May began selling stakes under the guise of them being the last opportunity to buy in, promising immediate returns. Trusting these assurances, Nui transferred money, only for May to vanish thereafter, reported KhaoSod.
“Previously, everything went smoothly. The agreed returns were always paid promptly. However, my personal losses now amount to approximately 5.5 million baht (US$161,050) due to this misplaced trust. Most participants were friends, encouraged to join by May.”
