29 year old accused of 100s of millions baht pyramid scheme

 | Wed 26 Aug 2020 14:32 ICT

A group of ten victims of a pyramid scheme filed complaints to police today, claiming to have been scammed out of hundreds of millions of baht.

The group say that a 29 year old woman had invited them to purchase golden amulets at the price of 10,000 baht per one Baht weight of gold. Buyers were told to wait one month for the arrival of the amulets. The scheme also offered returns on investment for different weights of gold with different timelines for delivery.

As victims began to complain at the late arrival of their amulets, and return on their investments, the woman blamed the pandemic for delays, but her excuses soon caught up as victims began to connect and discuss their situations. The ten victims had each invested between tens of thousands of baht to millions.

Patrapreeya Jai-ai, 29, said that she invested because the accused is a friend of her boyfriend’s and she saw that the deal looked too good to refuse. She said that she had received regular returns for the first seven months, having invested 12 million baht. But from May of this year problems began to occur and the accused kept making excuses that began to sound hollow.

She said that she had also invested in ‘house shares’ or pyramid schemes which the accused has set up, and had talked to other people who were now not receiving any returns, amounting to over 100 million baht.

Police say that they will issue an arrest warrant.