Pattaya residents and expats accuse bank manager of fraud, hold protest

Around 50 to 100 Thais and foreigners in Pattaya held a protest last Friday accusing the assistant manager of a local Kasikorn Bank branch of scamming them out of more than 300 million baht. A report was filed back in February accusing the assistant bank manager of defrauding people out of millions of baht, for some it was their life savings, by promising high returns for investments.

One expat held a sign saying “Danger K Bank Not return Our Money !!” Another person had a sign saying “ Danger!!! Our Money is Not Safe at K Bank”

According to Thai media, the bank agreed to pay back at a total amount of around 300 million baht plus interest. Reports say the bank didn’t provide compensation back as they promised. A document demanding compensation was sent again with the deadline of December 20, but there was no response from the bank and customers who lost money in investments then decided to hold a protest.

Protesters agreed with authorities to hold off on rallies until January 11 to give officials time to review the case.

UPDATE: “Hundreds” of investors caught in alleged Kasikorn Bank branch fraud in Pattaya

SOURCE: Thai News Agency | MGR Online