By Caitlin Ashworth
Feb 3rd, 2021

“It all seemed so legitimate and I saw many people coming and going at the end of each month, some bringing in bags of cash to invest into the scheme.”

Pattaya police detained a former assistant manager of a local bank branch after he allegedly scammed numerous foreigners, tricking some of them into investments that led to significant losses and using invalid documents to fake transactions.

A group of foreigners filed a complaint with the Pattaya City Police against the bank branch’s former assistant manager Chaisit Sappermphool on fraud charges. The damages are estimated to cost tens of millions of baht.

For several years, Chaisit helped the expats make deposits to their retirement funds and other services like passbook updates, according to the complaint. Recently, when updating their passbooks at other branches, some noticed their balances didn’t match what was printed in their passbooks.

A 49 year old expat and longtime Pattaya resident told The Thaiger that he visited a Kasikorn bank branch in Pattaya on Sunday for his monthly rolling over of funds and discovered he had lost 250,000 baht. He claims the bank branch’s assistant manager promised investors 3.5% interest per month for cash investments.

https://thethaiger.com/news/pattaya/pat ... tment-scam

It's only a rort if you're not in on it

I've only ever made one investment in SEA where I wasn't the owner of the business - that being $50 000 into a hotel in Pokhara. And the only reason I became involved in that being due to a very good Australian friend of mine having substantial interest in it already. Due to my lack of knowledge in these things, and the complete lack of trust I have with anyone pushing any investment opportunity in the region (other than very good friends) I can't see me in anything else.

Kung-fu Hillbilly wrote: ↑Thu Feb 04, 2021 3:20 pm I've only ever made one investment in SEA where I wasn't the owner of the business - that being $50 000 into a hotel in Pokhara. And the only reason I became involved in that being due to a very good Australian friend of mine having substantial interest in it already. Due to my lack of knowledge in these things, and the complete lack of trust I have with anyone pushing any investment opportunity in the region (other than very good friends) I can't see me in anything else.

Weren't you driving an Uber not long ago

Yobbo wrote: ↑Thu Feb 04, 2021 3:39 pm

Kung-fu Hillbilly wrote: ↑Thu Feb 04, 2021 3:20 pm I've only ever made one investment in SEA where I wasn't the owner of the business - that being $50 000 into a hotel in Pokhara. And the only reason I became involved in that being due to a very good Australian friend of mine having substantial interest in it already. Due to my lack of knowledge in these things, and the complete lack of trust I have with anyone pushing any investment opportunity in the region (other than very good friends) I can't see me in anything else.

Weren't you driving an Uber not long ago

You might have me confused with someone else.

Kung-fu Hillbilly wrote: ↑Thu Feb 04, 2021 3:42 pm

Yobbo wrote: ↑Thu Feb 04, 2021 3:39 pm

Kung-fu Hillbilly wrote: ↑Thu Feb 04, 2021 3:20 pm I've only ever made one investment in SEA where I wasn't the owner of the business - that being $50 000 into a hotel in Pokhara. And the only reason I became involved in that being due to a very good Australian friend of mine having substantial interest in it already. Due to my lack of knowledge in these things, and the complete lack of trust I have with anyone pushing any investment opportunity in the region (other than very good friends) I can't see me in anything else.

Weren't you driving an Uber not long ago

You might have me confused with someone else.

My apologies

Nothing says "legitimate" like "bags of cash."

This is going to be another very long court case between these “expats” and the shady bank manager and the Kasikorn bank.

John Bingham wrote: ↑Thu Feb 04, 2021 4:41 pm

Pintheshower wrote: ↑Thu Feb 04, 2021 4:14 pm Nothing says "legitimate" like "bags of cash."

Hang around in any bank long enough and you'll see the most ordinary people coming in and depositing huge bags of cash.

I had fifty grand in cash in a backpack inside the bank that I'd just withdrawn when I phoned my Nepalese business partner and said I was on my way over. He freaked out demanding I stay inside the bank until his two "assistants" arrived to escort me. There was always big dough going in and out - no doubt a lot bigger than mine.