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Businesses conned by lure of Mon megaprojects

BANGKOK: About 10 business operators testified to the Department of Special Investigation (DSI) in Bangkok yesterday (Oct 9) that they were conned into investing about B300 million in several bogus projects in the Mon State of Myanmar.

crime, Myanmar, police, construction,


Bangkok Post

Tuesday 10 October 2017, 08:44AM


Victims of an investment scam linked to the Mon State of Myanmar wait at the Department of Special Investigation in Bangkok yesterday )Oct 9) to give their statements. Photo: Tawatchai Kemgumnerd
Victims of an investment scam linked to the Mon State of Myanmar wait at the Department of Special Investigation in Bangkok yesterday )Oct 9) to give their statements. Photo: Tawatchai Kemgumnerd

Among the complainants was contractor Mr Chanont, who withheld his family name. He said he and many others were persuaded to invest with Hujjee Group Co. His company was hired for B20 million to complete designs for 78 projects, but was never paid.

Mr Chanont said he invested in Hujjee Group because he was told an investment of B100,000-B200,000 would yield a return of B200-B300 million.

Receiving their complaint, DSI deputy director-general Suriya Singhakamol said the case dated back two years. A Thai woman who said she had a doctoral degree claimed to have received concessions for 78 infrastructure projects in Mon State.

He referred to Supattha Chantararangsri, who claimed to chair Hujjee Group in Sri Racha district of Chonburi, and Kyaw Myint Oo, who claimed to be a member of the Mon royal family who granted the concessions.

According to Maj Suriya, Hujjee Group misled Thai business operators into believing Kyaw Myint Oo had awarded it 78 projects, including a government complex and an airport. Consequently about 100 Thai contractors invested with it. The victims were also persuaded to make donations to a bogus charity foundation in exchange for police-like uniforms supposedly displaying insignia of high rank.

The NAKA Island

Maj Suriya said some local reporters had been hired to report the activities of Hujjee Group, and provincial officials had been invited to participate, to boost its credibility.

“All the stories were fake including the claimed registered capital of the company of B500 billion,” the DSI deputy director-general said.

Mrs Supattha and another Thai suspect, Kosin Jina-on, were arrested on Saturday (Oct 7) and the DSI was seeking the arrest of the Myanmar man, who had already fled to his homeland, Maj Suriya said.

Read original story here.

 

 

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Jor12 | 12 October 2017 - 12:53:19

Clearly the scammers did a damn fine job, worthy of a PH.D in itself! 

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Kurt | 11 October 2017 - 18:19:23

Before you invest in something what looks to nice to be true, do your homework first.
First invest time in analyzing such a business group.

And the thai woman with that doctoral degree. 
Is it a real degree, or one of these you can buy in Bangkok? That would explain.

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Pauly44 | 11 October 2017 - 17:27:12

All the greedy faces thinking they're owed something as they were stupid enough to believe they would make 1000% profits on foreign investments, you were not persuaded into anything, nobody held a gun to your head it was your decision, live with it.

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