Thai police bust suspects over Ponzi scheme of over 1 billion baht

Cyber Crime Investigation Bureau (CCIB) Pol. Col. Krisana Pattanacharoen reported a group of suspects involved in a Ponzi scheme was busted by Thai police. He added that over 1,000 individuals had invested more than 1 billion baht in the scheme.

The CCIB arrested seven people and seized several assets from two companies that allegedly operated a Ponzi scheme luring people to invest in mushroom, bee, and kratom farming, promising unrealistically high returns, Thai PBS reported today. The two companies are Mining Mine X Company, and Lak Si Station Limited Partnership.

Krisana said that between November 2021 and July 2022, the two companies set up several mushroom farms in the northeast Sakhon Nakhon province. They invited people to invest in their businesses in mushroom, bee, and kratom farming through advertising. The companies promised quick and high returns.

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