Thailand’s national police busted a Ponzi scheme called MBC Club that collected investments from a thousand victims with a fake promise of profitable returns from Forex trade.
The Royal Thai Police has announced a successful outcome of the arrest of a Ponzi scheme network called MBC Club, which has caused some 1 billion baht in damages among around 1,000 victims.
The Royal Thai Police’s Deputy Commissioner-General Pol Gen Damrongsak Kittiprapat said this scheme operates by luring victims to invest in what they claim to be a Foreign Exchange Market (Forex) trading with bold promises, from the average of 40% profit returns from monthly investments, and a Porshe luxury car as a year-end reward.
According to the police, victims of this scheme would initially receive investment returns in the initial phase, before being encouraged to make more investments, and eventually not receiving the promised returns.
who is the owner of the bank accounts to which the victims transferred their investment money.
Following investigations leading to the court-issued arrest warrant, the police arrested Mr. Winkorn, who is the owner of the bank accounts to which the victims transferred their investment money.
The deputy police chief said this case has caused substantial damage to the Thai economy, adding that the police will continue to pursue this case and arrest every person involved. (NNT)
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