Individual damages range from 10,000 to 8 million baht.
When: December 7th, 2020
Where: Bangkok and Songkhla
Perpetrators: “House of Three Friends” saving group, names unknown
Victims: 500+ victims throughout Thailand
What: Attorneys representing more than 50 of the victims of a cash and gold saving scheme brought their case to police today in Bangkok. The scheme operated under the name “House of Three Friends,” but the amicable name betrayed the results of their operation.
Mr. Damrong, one attorney representing the victims, gave details to reporters about the case. “House of Three Friends” operated for one year. He detailed how 3 people invested in the cash and gold saving scheme and were paid out appropriately the first couple months. However, things changed rapidly when money put into the scheme was never seen again. Some even saw fake gold returned for payment.
The scale of the individual damage ranges from 10,000 baht to 8 million baht for some. Total damages are calculated to be 170 million baht.
It’s reported that the operators of “House of Three Friends” are in Songhkhla, but efforts to find them have so far failed.
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My take: Stories of these savings schemes going pear-shaped abound in Thailand. They aren’t all bad, we want to be clear. But when it’s your hard earned buck, quid, or baht on the line: be sure you know whose hands you’re putting that money in.
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