One Born Every Minute

**tomcat** · 31-08-2022, 06:59 AM

YouTube Star Allegedly Cheats Her Followers of $55 Million in Forex Scam

By Patpicha Tanakasempipat (Bloomberg)

August 30, 2022 at 3:35 PM GMT+7

A popular Thai YouTuber allegedly cheated thousands of her followers to swindle about $55 million through a foreign exchange trading scam that reportedly promised hefty returns on their investments.

Known as Nutty to her followers, Natthamon Khongchak attracted more than 847,000 subscribers to a YouTube channel where she posted dance videos. She also advertised private courses for aspiring forex traders on her Instagram account, posting images of what she said were her profits.

More than 6,000 people gave Natthamon money to invest, the Nation newspaper reported, citing a lawyer who helped dozens of alleged victims file complaints with Thai police. Followers were lured with promises of returns of as much as 35% on their investments, the report said.

In her last Instagram post, in May, Natthamon said she owed 1 billion baht ($27.5 million) to investors. In the video, she claimed her broker had blocked her trading account and funds since March, but said she would try to repay the money.

Natthamon didn’t respond to a direct message sent to her Instagram account on Tuesday.

A Thailand police unit involved in internet crimes last week issued an arrest warrant for fraud against Natthamon, according to Wattana Ketumpai, a police officer at the Cyber Crime Investigation Bureau.

So far, the bureau has received complaints from 102 people claiming they’d lost a total of 30 million baht, he said. New victims come forward nearly every day, with most claiming to have lost tens of thousands of baht, Wattana said. The numbers could be higher, he said, as complaints may have been lodged with other police offices.

While Natthamon hasn’t been seen on social media since June, followers are speculating that she’s fled the country, the Nation reported. Still, immigration records show she hasn’t left Thailand, said Wattana.

**Backspin** · 31-08-2022, 07:39 AM

She shouldn't be charged with a crime. We cant legislate against this level of mental retardation.

**Iceman123** · 31-08-2022, 07:42 AM

Originally Posted by Backspin

She shouldn't be charged with a crime. We cant legislate against this level of mental retardation.

Agreed that she fleeced mug punters, however if we allow this behaviour without repercussions we would be inundated with scamsters

**malmomike77** · 31-08-2022, 07:53 AM

In the UK you are not allowed to offer advice on financial matters or products without belonging to a professional body or having sat certain regulatory exams. The problem with these vacuous idiot influencers, the bollox they peddle and the platforms they do it on are unregulated.

**DrWilly** · 31-08-2022, 07:58 AM

Originally Posted by malmomike77

In the UK you are not allowed to offer advice on financial matters or products without belonging to a professional body or having sat certain regulatory exams.

As does Thailand.

Regulation of investment advisers in Thailand

Originally Posted by malmomike77

The problem with these vacuous idiot influencers, the bollox they peddle and the platforms they do it on are unregulated.

Nonsense. Thai laws still apply to her. They will catch up with her.

**malmomike77** · 31-08-2022, 08:01 AM

^ in this instance perhaps but this case is just one of many and the platforms are supposed to police themselves ......

**DrWilly** · 31-08-2022, 08:05 AM

I think it just shows how many scammers are ou tthere and how many vulnerable people there are. It's also a product of the sheer size of the platform.

"In 2021, there were 1.21 billion monthly active users of Meta's Instagram, making up over 28 percent of the world's internet users."

**TizMe** · 03-09-2022, 09:38 AM

Popular Thai YouTuber flees abroad after alleged $77 million forex scam | The Straits Times

Popular Thai YouTuber flees abroad after alleged $77 million forex scam

BANGKOK (THE NATION/ASIA NEWS NETWORK) - A popular Thai YouTuber who claimed to be a successful forex trader has reportedly fled abroad after allegedly cheating thousands of investors out of two billion baht (S$77 million).

Ms Natthamon Khongchak, better known as Nutty the YouTuber, defrauded over 6,000 victims, according to Mr Phaisal Ruangrit, a lawyer who campaigns to help fraud victims.

Mr Phaisal said one victim deposited about 18 million baht with her.

On Aug 24, the lawyer led some 30 people to file complaints against Ms Natthamon with the Economic Crime Suppression Division.

He said the YouTuber had used her popularity to lure victims with the promise of high returns in a short time.

Ms Natthamon's YouTube account, which is titled Nutty's Diary, has over 800,000 followers but the last clip was posted some five months ago.

She invited people to deposit money in her account, promising 25 per cent returns for three-month contracts, 30 per cent for six-month contracts and 35 per cent for 12-month contracts. She pledged to pay returns every month.
However, in April, her customers began complaining that they had not received the payments as promised.

In a May 25 Instagram post, Ms Natthamon said she had made a mistake in trading and lost all the money but promised to repay her investors.
On June 24, she announced she was being sued in two cases and would not be able to repay other investors if she was jailed.

On Sunday (Aug 28), popular Facebook page Drama-addict posted that Ms Natthamon had fled abroad. It added that one of her alleged victims, identified only as Nok, had offered a reward of 1 million baht to anyone who could provide information that would lead to her arrest.

The page said it received information that Ms Natthamon had fled to Malaysia

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