File photo: Suchada Kongchak and her mother were taken into police custody on their arrival at Suvarnabhumi international airport yesterday.
A well-known YouTuber and her mother, deported from Indonesia, were taken into police custody upon arrival at Suvarnabhumi International Airport yesterday to face charges of defrauding the public of about two billion baht.
The two suspects were identified as 31-year-old Suchada Kongchak, who claims to have about 800,000 YouTube followers, and her mother, Thaniya, 66.
Pol Lt-Gen Thatchai Pitaneelaboot, Assistant Commissioner-General of the Royal Thai Police, told the media that the two women allegedly operated a Ponzi-style investment scam by inviting members of the public to invest in share and derivative trading through her eponymously named company, in amounts ranging from 5,000 to 5,000,000 baht and promises of returns within 30 days.
The dividend depended on the amount and period of the investment. For instance, 25% on a 3-month investment, 30% on a 6-month investment and 35% on a 12-month investment, wired into the investor’s bank account.
To boost their credibility and business profile among current and potential new investors, Thatchai said the two women bought luxury cars, condominium units in Pattaya and spent lavishly.
Over 6,000 people were lured by the temptation of quick profits and collectively invested about two billion baht. Ultimately, though, the company began defaulting on the dividend payments, prompting a number of investors to file complaints.
According to the police, the two women first slipped into Malaysia illegally, for a temporary stay, before they moved to Indonesia in an attempt to hide.
Thatchai said Thai police sought help through Interpol. The Indonesian police found the two women on the island of Sumatra on October 2nd, subsequently deporting them back to Thailand to face charges.
