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Thai people who invested in a language school in Lampang have gone to the media after they were ripped off for millions of baht.
The AEC is the Asean Economic Community – Thai people have been encouraged to learn more English to catch up with some of their neighbors.
The victims said they responded to a leaflet campaign for investors hoping to make money. Some put in several hundreds of thousands of baht.
Some 50 students were left high and dry when the school shut its doors. They had paid 500 baht each to study English.
The Muang Lampang police have issued an arrest warrant for the owner named only as Jiraphat, 41.
Jiraphat has fled abroad with some of the proceeds of the investment in the school.
Ten people led by former teacher Phimporn, 73, went to the Thai media yesterday to press the police into following up on charges.
Sanook said in their headline that Jiraphat is believed to have fled abroad with half a million baht.