The Department of Special Investigation (DSI) on Friday sent its case report on a foreign exchange investment scam to public prosecutors, involving 2,653 victims who allegedly lost about 570 million baht to a gang of 10.
DSI officials delivered the report containing over 82,000 pages in 266 files concerning victims lured into investing with The System Plug and Play Co and Innovision Holding Co.
The key suspect was Phudis Kittitharadilok, 34, who, together with nine others, was charged with fraudulent borrowing and conspiracy in money laundering.
In the case, the suspects promised a 7% yield on the investment each week for a year's duration, which meant the yield would be as high as 364% a year.
Pol Lt Col Phayao Thongsen, DSI's director for informal financial business, said initially more than 4,000 people had registered with the DSI as victims but only 2,600 showed up for the interrogation.
The damages, however, would be calculated based on real losses since there were people who either received substantial returns or made some profits from their investments, he said.
He warned people to be cautious so they would not fall victim to a Ponzi scheme.
According to the DSI, Mr Phudis was a director of both The System Plug and Play Co and Innovision Holding Co. They had organised investment seminars which drew many participants who were persuaded to invest in foreign currency exchange.