2 suspects arrested for deceiving victims into investing in American stocks

Central Investigation Bureau arrests 2 suspects who tricked victims into investing in American stocks, resulting in 1 billion baht in damages. The Central Investigation Bureau (CIB), represented by the Economic Crime Suppression Division (ECD) and the 5th Division of the ECD, jointly arrested Ms. Kanyaphak, aged 52, and Mr. Nakarin, aged 30, suspects with a total of 59 arrest warrants on charges of jointly defrauding the public and fraud. The arrests were made on Phutthamonthon Sai 1 Road, Bang Duan Subdistrict, Phasi Charoen District, Bangkok. Following the incident in 2016, a private company that operates a direct sales business and provides consulting services on direct sales of all types of health products claimed that the company would list its shares on the US stock exchange. Therefore, it announced a fundraising drive for interested parties, claiming that they would receive a package return and that if other people were invited to invest, the inviters would have the right to buy the company's share s at a special price and receive higher returns. The company organized seminars and field trips to provide knowledge on fundraising and stock saving, which attracted a great deal of interest. Later, on November 22, 2019, 15 victims who were investors in the company gathered to file a complaint, stating that after investing in the stocks since 2016, 4 years had passed, the company claimed that the stocks had not yet entered the American stock market, could not distribute profits, and could not withdraw the stocks. After checking later, it was found that the company had already closed down. Initially, the total damages were over 1,000 million baht. One of the investors said that before deciding to invest in stocks, a friend recommended and invited him to invest. He also had the opportunity to attend a seminar with the company to provide information on savings management and the company's location, including a stock market registration certificate in the United States. This made him confident and confident tha t if he invested, he would get high profits. Therefore, he decided to buy more than 5 million baht worth of stocks. He also invited his friends and relatives to invest. The company offers a package for stock purchases, allowing investors to decide to buy according to the package. From the aforementioned stock package, investors decided to buy stocks in the package starting at $2,500 because they could buy more stocks outside. In the beginning, stock purchases were still bought at a low price of 0.0003 baht per share, which is a very low price. If it enters the American market, the stock price will increase to $3-5. Simply put, if you invest 100,000 baht in stocks, if it enters the American stock market, the stock price will make a total profit of approximately 5 million baht. Therefore, investors decided to buy the company's stocks. The investigation found that this gang had many suspects, most of whom fled abroad. However, police investigators found out that there were still 2 suspects who had been hiding i n Thailand for more than 4 years. The 2 suspects had a total of 59 arrest warrants in several provinces, such as Bangkok, Chiang Mai, Buriram, and Phitsanulok, indicating that there were victims scattered throughout the country. Both of them were directors of the company and beneficiaries of the company. Both suspects knew that they had arrest warrants and had been avoiding arrest the entire time, making it difficult to track them down. The police therefore monitored them for more than 1 month until they were able to arrest the 2 suspects. From questioning, the accused denied all charges, stating that the company had legally traded shares and could be verified. The Central Investigation Bureau would like to warn the public that currently, scammers often advertise and invite people to invest in stocks or cryptocurrencies or sell products through websites or social media, including cases where someone close to them or someone they know invites them to invest, claiming that they can get high returns in a short period of time, and if they can invite others, they will get additional bonuses. When they reach the point where they cannot find new members and cannot pay, or when they have received enough money, they will flee and cause a lot of damage to the public. There are 4 observations: 1. Giving high returns in a short period of time, 2. Guaranteed returns, 3. Rushing you to make a decision, 4. Claiming that everyone is investing. -419 Source: Thai News Agency