Tuesday, March 2, 2021

10’s of Millions of Baht Embezzled from Farang Bank Accounts in Pattaya

The bank manager allegedly stole funds being transferred from abroad and sold shady investments to the farang.

When: February 2nd, 2021

Where: Pattaya city, Chonburi province

Perpetrators: Mr. Chaisit Suppermpoon, former assistant bank manager

Victims: Multiple farang

What: On February 2nd, 2021, a group of farang, accompanied by their Thai wives, traveled to visit the Pattaya police station to report the activities of Mr. Chaisit Suppermpoon, a former assistant bank manager in Pattaya. The complaints revolved around money missing and being tricked into investments that lost millions of baht.

According to the report, Mr. Chaisit was responsible for money transfers from abroad on behalf of the farang clients and ensuring that they were deposited into their accounts. The farang would receive a bank book with the account balance that is transferred from abroad, but it turned out the money in that account didn’t exist. When the farang asked the bank about the money, it turned out that the bank book and the record of transfer were counterfeit or outdated books.

Some victims were also tricked by the same bank manager to invest in opportunities that would yield high interest for them. The farang trusted the bank manager and decided to invest. The report doesn’t specify the nature of these investments, but it does say tens of millions of baht were lost in damages.

Police said that they want a resolution that’s fair for the farang victims. Mr. Chaisit has been arrested and sent to Pattaya Special Prison. Further legal proceedings are pending.

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My take: A story like this is exactly why I do what I do.

We need to protect ourselves and be aware of any scam or shady thing that can happen, especially when it comes to banks, which are an institution we should be able to trust.

Do your due diligence. If money comes in, check to make sure it’s there. Don’t leave your finances in the hands of anybody but your own.

Source: https://www.khaosod.co.th/crime/news_5869719

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