2025-01-12
A new scandal in Thailand exposes investment scams spread through social media and false promises of gold trading and quick profits.
Thailand is a country that attracts millions of tourists and entrepreneurs, but as in many other parts of the world, there are risks involved in investing in unregulated business opportunities. A recent scandal has drawn widespread attention, showing how fake investment and charity fundraising scams can spread through social media and exploit people's trust.
The current incident began as a controversy surrounding a missing dog named Thongdee, but has quickly grown into national news. Several people have come forward and claimed that they lost large sums of money in an investment scam linked to a person who previously profiled himself in animal welfare.
Read also: Scandal surrounding dog rescue and fraud allegations
How the investment scam worked
Several victims have told how they were deceived into depositing money in what were promised to be safe and profitable investments in gold and real estate. The fraudsters used tactics such as:
- Fake Testimonials and Manipulated Screenshots – Pictures and “success stories” were shared on social media to give the illusion of credibility.
- Incremental payments – Victims were promised returns but were forced to pay new fees to “release” their money.
- Bad checks and long delays – When investors tried to withdraw their money, they received worthless checks or were asked to wait another month.
- Blocking and Disappearing – Once the scam was exposed, the scammers stopped responding and disappeared from social media.
One of those affected, an investor named Art, said he lost over 400000 thb after being persuaded to invest in a gold business. When he tried to withdraw his winnings, new payments were required, and in the end he never got his money back.
Why is social media a breeding ground for fraud?
Scams of this type are not unique to Thailand – they have become a global phenomenon and spread through platforms such as Facebook, Instagram and Line. One of the reasons they are so effective is that fraudsters exploit trust and peer pressure.
In many cases we see that:
- Victims are attracted through recommendations of acquaintances or mutual groups on social media.
- The fraudsters present fabricated success stories and manipulated bank statements to appear credible.
- Many cases are never reported, because the victims are ashamed of having been cheated.
How to protect yourself from investment fraud
To avoid falling victim to similar scams, it is important to be critical of too good offers and carry out thorough research. Here are some concrete tips:
- Be skeptical of guaranteed profits - Serious investments always have a risk, and no one can guarantee quick returns.
- Check registration and reputation – See if the company is registered and look for reviews from independent sources.
- Avoid paying more fees to “free money” – This is a classic scam method.
- Report suspected scams – If you suspect a scam, report it to the relevant authorities or the platform where you saw the offer.
Conclusion
The latest scandal in Thailand shows how quickly investment scams can spread through social media. Similar scams occur all over the world, and it is important to be vigilant when investing money in unknown projects.
Thailand Info continues to monitor developments in the case.
Disclaimer
Thailand Info reproduces this news based on publicly available information from Thai media. We make no claims of guilt or innocence in this case.
Text: The editorial staff
Image license: nawalescape, Pixabay, original image