Thirteen people have been arrested for allegedly swindling about 800 Myanmar workers out of 45 million baht by luring them to invest in a business.
The suspects — one Thai man and 12 Myanmar nationals — were presented at a news conference at the Economic Crime Suppression Division (ECSD) headquarters on Friday.
The Thai suspect was identified as Panachai Chanthanachai, 21, while the others have yet to be named.
They were arrested on Thursday following a raid on two four-storey commercial buildings at the V.K. Home housing estate in the Tha Kham area of Bang Khun Thian district in Bangkok. The buildings housed a business identified as Zan Jao Ping (666) Limited Parnership.
Seized from the office were a box containing Kasikornbank cheques, a box of membership application forms, five computers, posters introducing the firm's business, and coupons for buying consumer goods.
Pol Col Thongchai Wongsriwattanakul, acting commander of the ECSD, said officers were acting on complaints filed by 800 Myanmar migrant workers from several provinces including Chon Buri, Samut Sakhon and Bangkok.
The victims said they had been asked to invest 10,000 baht each in return for a promise of 45,000 baht in dividends within a five-month investment period.
Each person was asked to apply for a membership and to buy at least 5,000 baht a month worth of goods such as concert tickets, domestic tour package tickets and other products, said Pol Col Thongchai. However, none received any money as promised.
An initial investigation found there were about 800 damaged parties with damage amounting to 45 million baht.
Jo Lene Ou, 43, one of the victims, said he had received a brochure introducing the firm's business with an offer of attractive dividends within five months. He used his savings to buy products valued at 80,000 baht from the firm.
After the five-month investment period ended, he heard nothing from the firm. Two months later, he contacted it and was told that the payment documents were not yet ready. Other victims received the same reply, he said.
His group plans to also petition the Myanmar embassy for help.
Pol Col Pukarawik Chotikasathien, an ECSD superintendent, said an investigation found that the firm was run by Kittisak Chanthanachai and had been operating for two years.
Police are still looking for Mr Kittisak, 60.
All of the suspects have been charged with fraud and detained pending further action.