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Investors lose 100m baht in Thai-Cambodian cryptocoin-casino chip scam

DEFRAUDED business operators who lost over 100 million baht in a scam that promised them big profits for investing in a  cryptocoin that could be exchanged for chips at Cambodian casinos which a Thai woman and some Cambodian military officers had mounted asked for help from the Economic Crime Suppression Division today (7.5.2020), INN News reported.

Representatives of this group of business operators submitted evidence to police investigators concerning Ms Thanyaradi Srisaksakulchai, the owner of Radi Technology Co. Ltd. and Eagles Royal Co. Ltd which operate a bookkeeping service for online transactions especially the exchange of Cambodian casino chips, and Lt- Gen Ung Khiang plus six others on the charges of colluding to defraud the public and infringing on the Computer Act with losses totaling over 100 million baht.

The fraud victims said the suspect had set up a joint venture with high-ranking military officers in Cambodia and fooled them into believing that they would get high returns from investing in KAZCOIN which they said could be exchanged for chips at over 1,000 casinos in Cambodia and that they had got a valid permit from the Cambodian government.

According to the victims, the swindlers had promised that for every 35 baht invested they would get a return of 350 to 400 baht every month or around 100 times which led them to be tricked into transferring money into a joint account of Ms. Thanyaradi and Lt-Gen Ung Khiang at a Chok Chai 4 bank branch.

Upon later checking, it was found that money was withdrawn from this account which convinced them that investment was being made in Cambodia.

However when the time came to get the return on investment, Ms Thanyaradi turned slippery and told them that the money had been invested in a real estate business. However a check later showed that this was not true which led them to file a report for investigation into public fraud and infringement of the Computer Act today.


Top: Fraud on keyboard. Photo: GotCredit (www.gotcredit.com)  (CC-BY-2.0)

Below Some of the defrauded investors at the Economic Crime Suppression Division today. Thai headline says, “Swindled and lost over 100 million baht.” Photo: INN News


TNR staff
I am veteran journalist and part of ThaiNewsroom.com’s editorial team. We are working hard at making this news site a success and value the support of each and every reader

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