B100m gold scam duo sought

Arrest warrants are out for a couple accused of swindling money from about 10 people hoping to get rich from the gold trade, reports said on Saturday.

The provincial court in Chachoengsao has approved warrants sought by police for Thitiworn Chaochareon and his wife, Patcharaporn, who are on the run, Spring News online quoted police as saying.

The couple own the Thong Noppakao or Mae Kim Lee gold shop in Phanom Sarakham district of Chachoengsao.

The hunt follows complaints filed with district police on Saturday by Winai Wongpakdi and Yutthakarn Chan-am. The two men said they had lost almost one million baht in total after being convinced by Mr Thitiworn's parents that they could make profits from gold trading.

Mr Winai and Mr Yutthakarn told police that Mr Thitiworn's parents, Mr Wattana and Mrs Daranee, offered to sell them gold bars at 22,100 baht per baht-weight two weeks ago, which was about 200 baht lower than the market rate.

The two men transferred the money to Mr Thitiworn and his wife and received a receipt to exchange for gold. But they said they had not seen the gold bars.

Almost 10 local residents, politicians and traders filed similar complaints with police claiming total cash losses of almost 100 million baht, officers added.

The police charged Mr Wattana and Mrs Daranee with fraud before releasing them on bail and now are going after their son and his wife, according to Spring News.

Gold bar buying prices on Saturday were 22,150 baht per baht-weight (15.16 grammes) and the selling prices were set at 22,250 baht.

Related search: gold, scams, chachoengsao

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