Chinese woman arrested for 150 million baht Ponzi scheme

A Chinese woman involved in a Ponzi scheme that caused over 150 million baht in damages to victims has been arrested at a condominium in Pattaya, Chon Buri province.

According to Deputy Chief of the Immigration Bureau (IB), Police Major General Panthana Nuchanart, the 24 year old scammer, identified only as Hu, was apprehended by immigration police at a condominium on Pattaya Sai 2 Road.

Hu, when asked to present her passport, claimed it was missing. She was taken to the Chon Buri Immigration Office where officers checked her fingerprints in the biometric system and discovered she had no record of entering the country. Consequently, Hu was charged with illegal entry into the Kingdom of Thailand.

The IB coordinated with the Chinese embassy in Thailand and learned that Hu was wanted on public fraud charges related to a Ponzi investment scheme in China. Panthana stated that Hu had deceived many Chinese individuals into investing approximately 150 million baht collectively in a fraudulent stock share investing scheme.

During questioning, Hu admitted to having sneaked into Thailand via a natural border crossing near the Golden Triangle area in Chiang Rai province. She was subsequently handed over to investigators at Pattaya City police station for further legal action, reported Bangkok Post.

In separate news, a Chinese national was rescued by Pattaya police and immigration officers today after allegedly being abducted and held captive in a pickup truck by a fellow Chinese gambler over a football betting debt. This incident unfolded at 3am, today, June 28, in front of a Chinese restaurant on Pattaya Second Road.

In other news, Kanchanaburi police arrested 25 illegal immigrants attempting to cross the Thai border in Sangkhlaburi. The interception occurred at 2am today, as immigration officers and related agencies conducted a coordinated operation.

Police in Kanchanaburi were alerted to the presence of numerous foreign immigrants hiding in a forested area of Sangkhlaburi. Responding swiftly, officers positioned at Prang Plo Intersection, along with relevant agencies, were dispatched to investigate the reports.