Wealthy Thai man arrested for gold shop robbery in Chiang Mai

Photo via ThaiRath

Police arrested a wealthy Thai man for robbing a gold shop in the northern province of Chiang Mai after a two-week investigation. The thief claimed he wanted money for stock and digital currency investments and sold gold necklaces worth at least 17 million baht for just 4 million baht.

Security cameras at Lotus’s Supermarket and Yaowarat Krungthep Gold Shop showed a man dressed in all black leaping over the counter of the gold shop, grabbing 88 gold necklaces and fleeing on a motorbike on the night of November 28.

Officers tracked the thief’s route and discovered he was heading to a luxury village next to a famous orange grove in the Fang district of Chiang Mai province. Officers were unable to obtain further footage as the residence had strict privacy and security measures in place.

Officers believed that the thief must be wealthy and live in a magnificent home within the village. Officers also noticed that the thief was wearing expensive designer brand shoes when he committed the crime.

Further investigation revealed that the suspect was a 37 year old Thai man named Thatchaseth Chatetawattananukun. Thatchaseth is the son-in-law of the orange grove owner and lives in the luxury village with his wife.

Police closely monitored Thatchaseth and recently tracked his travels to Myanmar. The shoes he wore matched those of the thief, prompting officers to conduct raids at four houses in search of him on December 12.

Thatchaseth was located at a residence in the Phee Sue district of Chiang Mai province. Upon the officers’ arrival, he attempted to take his own life, but they intervened in time to prevent it.

Thatchaseth ultimately confessed to the theft, stating that he intended to use the money for investments in digital currencies and the stock market. He also disclosed that he travelled to Myanmar to sell the stolen gold necklaces, which were valued at least 17 million baht. However, Thatchaseth sold them for only 4 million baht.

He claimed to have returned to Thailand with 1.5 million baht and expressed intentions to go back to Myanmar to retrieve the remaining funds. The arrest of Thatchaseth shocked neighbours and residents in the area. They expressed disbelief, as they couldn’t fathom him engaging in theft, citing his apparent wealth and regular participation in Dhamma retreats at temples.


ORIGINAL STORY: Thief steals 88 gold necklaces worth at least 17 million baht in Chiang Mai

A Thai man stole 88 gold necklaces from Yaowarat Krungthep Gold Shop in Lotus’s supermarket in the Fang district in the northern province of Chiang Mai yesterday. Each gold necklace was worth 200,000 to 500,000 baht causing losses of at least 17 million baht.

The theft took place at about 18.45pm yesterday, November 28. The thief stole 88 gold necklaces from four trays spending only one minute before fleeing the supermarket on his motorcycle. He did not have any weapons and did not injure any employees during the robbery.

Fang Police Station officers reviewed the shop’s security cameras and the supermarket and spotted a man of 180 centimetres height parking his motorcycle, a Honda Wave, without a registration plate at the entrance of the supermarket. He was wearing a long-sleeved black jacket, long black trousers and a motorcycle helmet painted with orange flames.

The man entered the Yaowarat Krungthep Gold Shop swiftly vaulting over the counter to grab four trays of gold necklaces displayed in the glass case. He had no weapons and did not threaten any staff members.

Making a quick escape, the thief fled the premises and mounted his motorcycle. Although the shop manager pursued the thief, they were unable to apprehend him in time.

Each of the trays contained about 20 to 22 gold necklaces, with individual weights ranging from 100 to 230 grammes. Given the value of a 15.16-gramme gold necklace at around 34,000 baht, the estimated worth of each stolen necklace ranged from 200,000 to 500,000 baht.

While the shop did not provide specific details regarding each necklace and the overall losses, assuming a minimum weight of 100 grammes, the potential loss was conservatively estimated at least 17 million baht.

According to the police, the thief navigated his motorcycle into an alley near Fang Hospital, approximately 850 metres from the crime scene. From there, he proceeded towards the Pong Namron intersection, prompting law enforcement to conduct a comprehensive review of CCTV footage to trace his escape routes.

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Petch Petpailin

Petpailin, or Petch, is a Thai translator and writer for The Thaiger who focuses on translating breakingThai news stories into English. With a background in field journalism, Petch brings several years of experience to the English News desk at The Thaiger. Before joining The Thaiger, Petch worked as a content writer for several known blogging sites in Bangkok, including Happio and The Smart Local. Her articles have been syndicated by many big publishers in Thailand and internationally, including the Daily Mail, The Sun and the Bangkok Post. She is a news writer who stops reading news on the weekends to spend more time cafe hopping and petting dwarf shrimp! But during office hours, you can find Petch on LinkedIn and you can reach her by email at petch@thethaiger.com.

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