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Deputy police commissioner part of multi-billion-baht Ponzi scheme

KHON KAEN: The ex-Loei police chief who allegedly tricked almost 200 subordinates out of B229 million is part of a nationwide pyramid scheme handling B5 billion a month, says a deputy regional police chief.

crimecorruptionpolice
By AFP

Friday 15 June 2018, 08:44AM


Maj Gen Thanasak Ritthidejpaibul, deputy commissioner of the Provincial Police Region 4, said in Khon Kaen province yesterday (June 14) that Maj Gen Suthip Palitkusolthat, deputy commissioner of the Royal Thai Police Office’s human resources office, had gathered money in Loei province for the Ponzi network which claimed to invest in stocks and properties.

The network handled about B5bn a month and was active in all four regions, he said.

According Pol Maj Gen Thanasak, Maj Gen Suthip transferred B229mn from 192 policemen in Loei province to the ponzi scheme and would face public fraudulent charges, liable to a jail term of up to 10 years and/or a fine of up to B1mn.

The Provincial Police Region 4 issued its first summons for Maj Gen Suthip to acknowledge the charges next week. He failed to show up for questioning three times previously, with the latest set for Wednesday (June 13).

Maj Gen Suthip phoned the regional office on Wednesday and promised to return B30mn a day to the troubled 192 policemen in Loei starting yesterday but did not keep the promise, Maj Gen Thanasak said.

About 20 people filed complaints against the Ponzi scheme with the regional police office in Khon Kaen and they were from the northeastern provinces of Loei, Nong Bua Lam Phu, Roi Et and Khon Kaen, he said.

Splash Beach Club

Maj Gen Suthip was previously chief of Loei Police and chairman of the Loei Police Cooperative.

He allegedly persuaded local policemen to borrow from the cooperative to clear debts with creditor banks.

He also offered to manage the borrowed money, repaying their old debts and promising them monthly investment returns of about B5,000. The 192 policemen believed him and transferred the money to Maj Gen Suthip.

The deputy chief had failed to pay the promised returns since January and the 192 policemen faced lawsuits from their creditor banks.

They all became debtors of the banks and the Loei Police Cooperative.

Read original story here.

 

 

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