Lottery quota scam: Investor dupes 10+ people, swindles staggering 40 million baht

In a dramatic turn of events, a business investor recently scammed over 10 people out of a staggering 40 million baht (US$1,166,180) through a lottery quota sale tactic. The victims gathered to present the case to Bangkok’s Central Investigation Bureau earlier today, hoping to expedite the search for the fraudulent businessman, known as “Sia Mo,” who is now on the run.

Thamanan Thaengtim or Ja King’s Saphan Mai, along with the victims, met with Chantima Kunrotapsorn, the Deputy Director of Inquiry at the Bureau. They explained how they fell prey to the fraudulent scheme perpetrated by the 42 year old Sia Mo, also known as Songtham. He falsely presented himself as a successful businessman with a company valued at 200 million baht (US$5,830,820) and exploited his self-proclaimed charitable acts.

He gained the trust of his victims, selling them a lottery quota of 7,850 baht a booklet. He proposed that if they preferred not to sell it themselves, they can invest 7,600 baht per booklet and earn a return of 1,000 baht every month, claiming this would offer them a regular supplementary income.

A, a 45 year old victim, mentioned that she had known Sia Mo since January when a colleague introduced him to her. Initially, she made a small investment and received her lottery quota. Boosted by the trust she gained after the first payout, she decided to invest more, managing to pool around 9 million baht, including her relatives’ contributions, reported KhaoSod.

However, things turned sour when she was not reaping the promised lottery quota. She made several attempts to contact Sia Mo and demand a refund, but he was unreachable subsequently. She was alerted to the fact that he had absconded after accepting the charges previously at Rattanathibet Police Station, Nonthaburi.

In a similar account, Bee, another victim 40 years old, recounted her experiences. Initially, she received returns and made steady investments later on, raising her contributions into the millions. Things went downhill after the infamous “Not Lottery Plus” case, after which she failed to receive the anticipated returns. When inquired, she was given various excuses before Sia Mo vanished.

District officers have taken down the victims’ testimonies as evidence, further investigating the matter, and reporting to their commanding officers for further directive.

It’s an age-old story in Thailand.