Fraudster nabbed after swindling millions in Bangkok investment scheme

A woman sought for her alleged involvement in a fraudulent investment scheme was apprehended yesterday after evading capture for nine months. The 55 year old suspect, Pimpicha Suthornsupisal, stands accused of deceiving numerous individuals, resulting in millions of baht in losses.

The arrest took place in a car park within a dormitory complex located in Bangkok’s Sai Mai district. Pimpicha, along with By Smart Plus Co, operated an investment scheme between 2021 and 2022, enticing investors with a promised 25% return and additional profits for bringing in new investors.

Authorities stated that some investors did receive the promised returns until February of last year, at which point the payouts ceased. Approximately 70 victims have been identified, with total damages estimated to be around 30 million baht reports Bangkok Post.

Pimpicha now faces charges of colluding to defraud and inputting false information into a computer system.

There was also a case where a Thai couple was sentenced to 12,640 years in prison each after being found guilty of operating a Ponzi scheme that resulted in damages amounting to billions of baht. The couple, Wantanee Tippaveth and her boyfriend Metee Chinpa, committed 2,528 acts of fraud between March 9, 2019, and October 30, 2020.

In central Thailand, more than 500 people fell victim to a jewellery fraud. The couple who owned a jewellery shop in the Samut Sakhon province lured unsuspecting customers into buying jewellery worth about 60 million baht.

In another case, a woman who had been on the run for 14 years was arrested in Sing Buri province for her alleged role in forging the credit card of the New Zealand ambassador to Thailand in 2008, resulting in damages exceeding 10 million baht.