Southern Thais report 200 million baht gold share scam to police

Thais in Sadao and Hat Yai districts of Songkhla thought they were onto something good when they invested in cheap gold on Facebook.

The people running the scheme were selling gold that they said came from pawn shops – it was available at only 16,000 baht per baht weight, well under the price at gold shops.

Interest was also offered if the gold was not delivered within 10 days.

Many people invested and some got a profit in the early days.

But then like other such scams the money dried up and the funds transferred to the fraudsters were a one way street.

Yesterday 40 people went to Klong Nge police to jointly register a complaint.

The con is expected to have defrauded hundreds of around 200 million baht.

Thai Visa / Thai Rath

 

Stay updated with Samui Times by following us on Facebook.