The Royal Thai Police today, February 10th, announced the confiscations of two online investment scams, damaging thousands of victims who were reportedly losing more than 550 million baht.
In the first case, two alleged fraudsters were arrested for reportedly alluring victims into an investment in an online game business called “Lucky Doga”. According to the victims’ statement, they were tricked into buying a virtual dog in the Lucky Doga game and they would be able to earn a profit when selling the dogs to other members.
However, the alleged scammers would put the virtual dogs into the system and set them at a high price. They would then reportedly shut down the system and disappear when the victims decided to make a purchase, earning the alleged scammers a substantial amount of money and leaving the seller with no virtual dog or chance to sell them for a higher profit.
The initial investigation revealed that the Lucky Doga game was founded in May 2020 and had earned more than 50 million baht within 4 months from more than 500 victims, many of them people desperate to earn a living after the Covid-19 pandemic devastated many business sectors. About 40 victims had filed a report at a police station nationwide so far.
The two suspects had more than 10 million baht in circulation in their bank accounts, according to the investigation. However, they initially denied all charges before being taken to the police station for further interrogation. They were not named to the press.
In the second case, three alleged scammers were captured after reportedly operating a scamming business called “S Club”. The investigation exposed that the group would persuade victims to attend seminars in various provinces before tricking them into investing with S CLUB, a company that allowed customers to play in online casinos from around the world.
The investment included nine different packages, from 21,000 baht to 5,000,000 baht. The group would also promise a 10.5 percent dividend of their investment per month. The investor would also earn an additional profit if they were able to invite others to join the business at the rate of 5 to 15 percent of the investment money.
However, the victim claimed that they only earned some profit at the early stage of investment but the alleged fraudsters would later become out of reach, cancel all their contact routes, and eventually escape. There were more than 400 victims who claimed to be members and had lost more than 500 million baht to the allegedly fraudulent business.
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