Several traders have fallen victim to a devious stock scam, losing millions of baht after trusting false promises of high-yield investments. One seasoned investor alone lost 165 million baht, revealing her experience on a recent television programme and warning others of the growing menace of online investment fraud.
The episode of the popular talk show, Hon Krasae, on Thursday featured a woman, using the alias Ms A, who recounted her experience of falling victim to a scam promising a lucrative stock tip. She was joined by two other victims: Ms B, who lost 28 million baht, and Dech, a man who sold his house hoping to make a profit from the scam.
Ms A explained she regularly invests in stocks and first encountered the scam after seeing an online advertisement for a ‘stock expert’.
Upon signing up, she was contacted via the LINE messaging application by an individual claiming to be the secretary of a top trader, who then introduced her to the supposed master trader. She was soon integrated into a large online chat group comprising around 300 members discussing stock trades.
Soon after, Ms A was offered the opportunity to trade shares of a major asset management firm. She was instructed to create a new trading portfolio via an app seemingly designed exclusively for the group.
Despite noticing irregularities, such as transfers being made to various personal accounts, Ms A continued investing, enticed by the consistent, seemingly lucrative returns.
Her investments grew to a portfolio valued at 500 million baht. When she attempted to withdraw her funds, she was told to pay a 10% service fee. After transferring the fee, however, the app ceased functioning, and the entire chat group disbanded.
Expressing remorse, Ms A said she decided to speak out to warn others about such scams. Alongside other victims on the programme, she emphasised the importance of caution and urged those affected not to despair but to seek justice by pressing charges and alerting authorities.
The victims said they hope their ordeal can serve as a warning to prevent others from falling into similar traps, highlighting the importance of vigilance in online investments.