Home National News Japanese immigrants in Chiang Mai are the victims of investment fraud

Japanese immigrants in Chiang Mai are the victims of investment fraud

A group of Japanese immigrants had invested in a visa agency in Chiang Mai and, according to their claims, lost more than 30 million baht to fraud.

The Japanese victims said they had been invited by a Thai woman and her Japanese friend to invest in their visa agency. The money would then be used to provide loans to other Japanese immigrants who did not meet the immigration financial requirements of 800,000 baht the so-called retired visa.

Japanese investors were told they would get a 10 percent return on their investment. Initially, the money was paid out as promised, but later that stopped.

The Thai also told the Japanese that she was running a tour company that needed further investment after obtaining a concession to host the popular Yi Peng festival. This money also went up in smoke.

The troubled victums then visited the office where the woman and her Japanese friend had worked and found it was locked. According to media reports, some Japanese are no longer able to get the 800,000 baht they need for their retirement visa and may have to leave Thailand.

Another Japanese man testified that he could no longer afford his cancer treatment.

Losses per victims range from hundreds of thousands of baht to 9.4 million. Chang Phueak police are investigating and have issued arrest warrants for the wanted couple.

Information and source
Photos: chiangmainews
Source: chiangmainews.co.th/

Content: Olleke Bolleke in Northern Thailand

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