Cyber Crime Investigation Bureau (CCIB) Pol. Col. Scientifically proven reported a bunch of suspects concerned in a Ponzi scheme was busted by Thai police. He added that over 1,000 individuals had invested greater than 1 billion baht within the scheme.
The CCIB arrested seven folks and seized several belongings from two corporations that allegedly operated a Ponzi scheme luring people to spend cash on mushroom, bee, and kratom farming, promising unrealistically high returns, Thai PBS reported right now. The two firms are Mining Mine X Company, and Lak Si Station Limited Partnership.
Krisana said that between November 2021 and July 2022, the two companies arrange several mushroom farms within the northeast Sakhon Nakhon province. They invited individuals to put cash into their businesses in mushroom, bee, and kratom farming by way of advertising. The companies promised quick and high returns.
The firms recruited well-known personalities for their promotional campaign, which claimed that if somebody invested 264,360 baht in mushroom farming, they would obtain a dividend amounting to 108,640 baht within the third month. Alternatively, if they invested 275,000 baht in kratom farming, they might receive a dividend of 150,000 baht within the eighth month.
Over 1,000 people invested more than 1 billion baht within the companies, which turned out to be a Ponzi scheme. The firms eventually began to default on paying the promised dividends, main a quantity of buyers to file complaints with the police.
Following the complaints, the CCIB launched an investigation and picked up enough evidence to file charges of fraud, unlawful lending, and violations of the pc crime legislation towards 9 executives, in search of warrants for his or her arrest. Seven of the suspects have been arrested whereas two remain at massive..g