Hundreds of investors caught in Kasikorn Bank branch fraud

Photo: The Kasikorn Bank, Soi Bua Khao Pattaya branch in Central Pattaya Road - Google Maps

Hundreds, perhaps more than 400 investors have been cheated by a bank manager at a Kasikorn Bank branch in Pattaya.

The manager named in a police report as Mr Gob was assuring investors 3.5% interest, per month for cash investments. It seems his high-interest rate attracted hundreds of people wanting to take advantage of the generous terms.

The branch involved is the Kasikorn Bank, Soi Bua Khao Pattaya branch in Central Pattaya Road.

Mr B, he wishes to remain nameless at this stage, visited the branch to roll over his interest by signing the deposit slip. He was told he could withdraw the interest if he wanted to but was “encouraged” to roll the interest over into a mass amount.

“It all seemed so genuine and I saw many people coming and going at the end of each month, some bringing in bags of cash to invest into the scheme.”

Mr B knows of some investors who invested many millions of baht and even one Chinese man who had allegedly invested 130 billion baht.

“Every time I visited there were people coming in with bags of cash investing for other people.”

It all came to pass yesterday as hundreds of puzzled investors visited the bank for their interests and were informed that the bank manager had been arrested 2 weeks ago by the police.

According to Mr B, neither the Kasikorn branch in Pattaya nor the headquarters in Bangkok had made any effort to alert the affected investors of the situation.

The headquarters of Kasikorn Bank in Bangkok has told Mr B, and other investors that they are currently “investigating the situation” and that they will “respond within 10 days”.

Source: The Thaiger