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New gold fraud in Chiang Mai

Chiang Mai

There is a new gold fraud going on in Chiang Mai Province, at least 10 victims have filed reports with police. The victims claim that the new scam sells gold at a price of 12,000 THB for 1 baht of gold (15.244 gram). At 10.30 on 11 September 2020, a group of victims went to the Chiang Mai Police Station. There are victims in many districts including Mae Taeng, Saraphi, San Sai, Doi Saket, and the main city of Chiang Mai. Police Major General Pichet Jiranansin, Police Colonel Sukon Sriarun, and Police Colonel Somporn Panprom accepted the reports.

The victims revealed that they were approached with a new investment opportunity. Gold was offered at a much cheaper price than on the market. The victims didn’t get the gold nor did they receive their money back. The victims realized that it was time to ask for help from officials if they wanted to see their money again. Chiang Mai Police stated that there are at least 10 victims of the new scam. Most of the victims decided to invest 12,000 THB for a baht of gold. After their first investment, the victims received gold as agreed after a month. Because it worked out well the first time, most victims decided to invest even more money. Some invested 120,000 THB the second time believing they would get 10 baht of gold back. Instead after a month of waiting, they never saw the gold or the money again.

Victims can not contact the person who invited them to join the investment. They realized many have fallen for the same scam and decided to form a group to ask for justice. Police wish to advise citizens to not fall for an investment plan that seems too good to be true. An investigation has been started to search for those involved in the scam. If any of your Thai friends receive a golden opportunity to buy real gold for a much cheaper price than gold shops it is likely a scam. Make sure to warn your friends, for real gold you have to pay the real price currently at 29,852 THB.

Credit: Khaosod

Thai Residents


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