Thai woman arrested for alleged 9 million baht pyramid scheme that left 100 investors in the red

A 34 year old woman was arrested this morning following accusations of running a pyramid scheme that duped over 100 investors and led to losses exceeding 9 million baht (US$257,880). Kanittha Senkhoksung was arrested in her home located in Moo 1 village, Tambon Nong Nam Daeng of Pak Chong district, Nakhon Ratchasima province, by the Crime Suppression Division (CSD) police.

Police Colonel Anek Taosuparp, the deputy commander of the CSD, confirmed the arrest was conducted under a warrant issued by the Criminal Court on January 31, this year. Kanittha faces charges of fraud, posting misleading advertisements to charm potential investors with interest rates higher than legally acceptable, and uploading false data into a computer system, reported Bangkok Post.

Three mobile phones and multiple bank passbooks were seized from her at the time of the arrest. In a simultaneous operation, another team of CSD police searched a separate property owned by Kanittha’s family in Moo 10 village, Tambon Ban Pho in Nakhon Ratchasima’s Mueang district, accumulating further evidence.

According to Pol. Col. Anek, their investigation found that Kanittha used Facebook to lure people into her pyramid scheme last year. She promised an exorbitant monthly interest rate of 50%, paid out only during the initial months. After a short while, she shut down the accounts and became uncontactable, leaving more than 100 victims suffering from a collective loss of approximately 9 million baht.

Two days ago, over 100 Thai people fell prey to a construction scam orchestrated by a contractor who is currently on the run. The resulting financial toll of this fraudulent scheme is projected to surpass 16 million baht.

A contingent of 50 victims formally filed a complaint with the Deputy Commissioner of the Royal Thai Police (RTP), Surachate “Big Joke” Hakparn. They detailed how a construction contractor named Khachain “Man” Kuntian duped them out of their funds. To read more click HERE