Department of Special Investigation officers settle in at Phuket City police station to receive complaints about the ‘rubber share’ scam.

DSI reaches out to scammed investors

The Department of Special Investigation (DSI) has set up a desk at Phuket City police station to accept complaints from victims of an "investment company" thought to have defrauded 5,000 people in the South of more than Bt150 million.

Thanin Prempri, head of the DSI Phuket investigation team, said Amorn-ake Petluechai and two associates of his Khon Kaen-based Thaninanan Co Ltd were charged in early March with multiple counts of conspiracy to commit fraud and sent to a Bangkok jail without possibility of parole.

The arrests followed a DSI investigation after numerous complaints that the company had promised monthly interest payments of 6 to 8 per cent to people investing in its "rubber share" fund.

A search of the company's offices uncovered a list of 712 people who invested Bt217.5 million in the scheme. Most were from Krabi, Phuket, Trang and Nakhon Sri Thammarat.

The DSI estimates some 5,000 investors fell for the scheme nationwide, suffering total losses of more Bt150 million. Some 50 cases have already been filed against the company in Khon Kaen court and many more are expected.

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A complaint desk set up in Krabi last month had accepted complaints from 959 victims who invested a total of Bt166.8 million and reported losses of Bt94.5 million, he said.

"The Phuket complaint desk we set up on May 9 has already had more than 70 victims come forward to report losses of Bt13 million," he said.

The desk will continue to accept complaints until May 22.

Next month, the DSI will set up complaint desks in Trang (June 7 to 20) and Nakhon Sri Thammarat (June 23 to 27).