Cyber Crime Investigation Bureau (CCIB) Pol. Col. Krisana Pattanacharoen reported a bunch of suspects concerned in a Ponzi scheme was busted by Thai police. He added that over 1,000 people had invested more than 1 billion baht within the scheme.
The CCIB arrested seven people and seized a quantity of belongings from two companies that allegedly operated a Ponzi scheme luring folks to put cash into mushroom, bee, and kratom farming, promising unrealistically excessive returns, Thai PBS reported at present. Frenzy are Mining Mine X Company, and Lak Si Station Limited Partnership.
Krisana said that between November 2021 and July 2022, the 2 firms set up several mushroom farms in the northeast Sakhon Nakhon province. They invited folks to put money into their companies in mushroom, bee, and kratom farming through advertising. The companies promised quick and excessive returns.
The firms recruited well-known personalities for their promotional marketing campaign, which claimed that if someone invested 264,360 baht in mushroom farming, they might receive a dividend amounting to 108,640 baht within the third month. Alternatively, if they invested 275,000 baht in kratom farming, they would obtain a dividend of 150,000 baht in the eighth month.
Over 1,000 folks invested greater than 1 billion baht within the businesses, which turned out to be a Ponzi scheme. The corporations ultimately began to default on paying the promised dividends, leading a number of buyers to file complaints with the police.
Following the complaints, the CCIB launched an investigation and collected sufficient proof to file costs of fraud, illegal lending, and violations of the pc crime law against 9 executives, looking for warrants for their arrest. Seven of the suspects have been arrested while two remain at massive..