B30m pyramid scheme busted
- Published: 12/02/2013 at 09:18 AM
- Online news:
A woman accused of operating a pyramid scheme worth more than 30 million baht was arrested in Pathum Thani on Monday.
Department of Special Investigation (DSI) officers raided a single-storey house in Khlong Luang district and arrested Nakanok Thurakit, 40, owner of the house and executive of Thanathamthai Network Co, on charges of swindling.
The arrest came after a group of residents in Chiang Mai, Chiang Rai and Lampang provinces lodged a complaint with the DSI's northern office against Ms Nakanok and Pornchai Intanant, manager of Tuendai Ngernsaen Co, saying they were swindled.
The victims claimed Ms Nakanok and Mr Pornchai urged them to invest in their businesses by paying membership fees of 2,560 baht each, offering returns of 200-1,600 baht a day.
Initial investors received cash at first, but the payments eventually stopped, the victims told the DSI.
The victims said the accused told them their money would be used to set up a fund that would provide 100,000 baht in financial assistance for members' families if they died.
The victims were told they could seek loans from the fund after applying for membership, the DSI said. However, the loans were never disbursed.
The DSI said more than 12,000 people in the North had fallen victim to the scheme, with damages amounting to 30 million baht.
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