Car workshop owner accused of 10 million baht investment fraud

A renowned car workshop owner has been accused of defrauding investors of over 10 million baht by luring them into various investment schemes. The victims claim the owner led a luxurious lifestyle while they faced significant financial losses.

At 10.30am today, July 4, a group of 15 victims, accompanied by lawyer Natthakorn Sutchaa, met with the Deputy Investigation Inspector at the Central Investigation Bureau, Police Lieutenant Colonel Songphon Mokklan, to file a complaint.

They accused the owner of a famous car modification workshop in Samut Prakan of defrauding them through investment partnerships and money-pooling schemes, resulting in losses exceeding 10 million baht.

Automotive entrepreneur Nittipon recounted being invited to invest in a money-pooling scheme with promises of high returns. However, when the payout date arrived, the 45 year old received nothing, and the scheme’s operator disappeared. Nittipon lost 700,000 baht in the process.

Nittipon claimed the workshop owner leveraged the shop’s reputation built from participating in national car racing events, to gain trust. Many victims were duped into investing. Some victims were even tricked into buying cars but never received registrations due to outstanding finances.

He further explained that some investors bought cars but were left with unpaid instalments, leading to legal troubles. Others were persuaded to become business partners in the workshop but never received any returns.

Numerous excuses

When they demanded their money back, they were met with excuses and delays, while the workshop owner continued to live lavishly. This prompted the victims to unite and file a formal complaint to prevent further fraud.

Another victim, 32 year old Phutthipong, shared his story, stating that he knew the workshop owner from the car racing community. Recently, the owner convinced him to invest in the money-pooling scheme, promising high returns. Desperate for funds to treat his wife’s cancer, Phutthipong invested over 300,000 baht.

Phutthipong claimed that when the payout date arrived, nothing happened. When he asked for my money back, the owner made excuses, claiming issues with customers not paying for car modifications.

Despite this, Phutthipong claimed the shop owner continued to live extravagantly and even participated in a major car race in Chon Buri, acting as if nothing had happened. Over 20 victims have lost more than 10 million baht in total.

Lawyer Natthakorn echoed Nittiporn’s sentiments, stating that the workshop owner exploited his reputation in the racing community to attract investments. The schemes included money-pooling, car sales, and workshop partnerships. The owner claimed losses to avoid paying returns. Previous complaints to local police stations had seen little progress.

Initial investigations involved taking statements from the victims and gathering evidence, which will be reviewed by senior officers for further action, reported KhaoSod.