Thailand’s National Office of Buddhism (NOB) has been directed to investigate an alleged pyramid scheme that reportedly defrauded monks in the northeast, leading to damages exceeding one billion baht.
PM’s Office Minister Chousak Sirinil, who oversees the NOB, addressed the situation regarding the pyramid scheme known as “Ban Share Nong Carrot,” which has reportedly affected a large number of monks. He noted that he has yet to receive a detailed report but emphasized that the NOB should conduct its investigation first.
When asked about a potential meeting with the NOB, given that monks were targets in the alleged scam, Mr. Chousak stated that the NOB is currently working on the issue. He affirmed that actions are being taken as per instructions from the PM’s office and added that if the matter involves monastic discipline, it is up to the clergy to handle it. He clarified that any legal violations would fall under the jurisdiction of police investigators.
The controversy emerged following a report on the “E-Sor Khayee Khao” Facebook page, which stated that the Ban Share Nong Carrot scheme had collapsed. According to the report, a company had lured monks and villagers into seminars and training sessions.
Participants were encouraged to recruit others into a network trading company shares, with each member required to invest a minimum of 300,000 baht. One victim from Sukhothai described how a coworker introduced them to trading in 2020, claiming to have profited from the scheme.
Eventually, the victim joined a trading group where the team leader shared photos of purported profits to build trust in the scheme. The company even offered demo coins for practice and created a LINE group for trading education.
In November 2022, the victim attended a seminar in Rangsit, which attracted over 1,000 participants. The broker behind the scheme promised a crash course for those lacking patience or trading skills.
In December, facing a cervical cancer diagnosis and financial difficulties, the victim sold their last piece of land to invest 316,000 baht, lured by promises of monthly profits between 10,000 and 20,000 baht.
However, after three months, the company claimed it had suffered losses, and members were unable to withdraw their investments. The firm subsequently requested additional funds from its members.
As of June 2023, no members had received returns on their investments, leading many to file complaints with the Department of Special Investigation (DSI), but progress has been stalled.
