Woman lost 20 mil in Ponzi scheme

 | Wed 3 Jul 2019 12:28 ICT

CityNews – A woman exposed a fraudulent scheme after losing over 20 million baht.

On July 2nd, Saitip Tongkun, 34, filed a complaint about a Ponzi scheme case which cost her over 20 million baht. She was introduced to the scheme by a woman referred to as Sri from Phetchaburi who invited her to invest in beauty products. She was also convinced by a friend telling her that there will be a full team of sales, and that she only had to invest.

Her first investment costed her 400,000 baht. The result was not as she expected. However, her friend had some returns on her investment, so she invested more. After losing over 20 million baht she came to realise that it is a Ponzi scheme.

She reveals that victims in the northern region have lost over 18 million baht and suspected the overall figure of the whole nation to be about 500 million baht. She emphasised that the promotion of the scheme is very convincing with celebrity advertising for the scheme. She urges authorities to investigate.