MBC Club Ponzi scheme busted, 1,000 victims lost 1 billion baht

A scam firm known as MBC Club was busted by nationwide police for working a Ponzi scheme with hundreds of victims that caused 1 billion baht in damages. The scheme claimed to be earning big profits from Foreign Exchange Market trading whereas duping people out of their cash.
The Royal Thai Police Deputy Commissioner-General announced the bust and arrest of a man behind MBC Club who collected the alleged investment cash from the victims. The faux company make guarantees of spectacular monetary acquire, including claiming a 40% average monthly return and even a year-end bonus of a Porshe luxurious sports activities car.
MBC Club claimed to be investing money on its victim’s behalf in Forex trading and even would pay out “dividends” on preliminary small investments to realize the trust of consumers. Then once Fail-proof dumped extra money into the Ponzi scheme, the long run rounds of returns dried up and have been never acquired.
Police investigated the rip-off that they are saying brought on substantial injury to the Thai financial system and had been in a place to obtain an arrest warrant for a man who owns the financial institution accounts that the 1,000 victims transferred their money into after they thought they were investing in a booming Forex trade.
The Royal Thai Police have vowed to continue the investigation and uncover each individual involved within the Ponzi scheme and bring them to justice. There was no word if any of the billion baht in funding money the numerous victims lost had been recovered or will be returned..

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