Thread: Hundreds� of investors caught in massive Kasikorn Bank branch fraud in Pattaya

Originally Posted by Seekingasylum

Honestly, the dregs that are now accumulating on the near-empty barrel that TD is becoming are surely the worst in cybersphere

There's flights out to all corners of the globe later today you total fucking genius you, if you hurry you can get on one

As they say, There is a sucker born every minute....but.

Who knows what the outcome will be. It should be that the guy that duped customers was gainfully employed by Kasikorn bank during the entire scam, the company and its senior management should be held liable ( some of them could have very well been in on it these types of scams always need help). The guy wasn't running the scam outside the business, he was duping customers inside the bank for which he worked for. Sadly it will probably be a "pennies on the dollar" type settlement.

But lets be honest here. The old adage has always held true, "if the deal sounds to good to be true, it likely is".

Originally Posted by Headworx

There's flights out to all corners of the globe later today you total fucking genius you, if you hurry you can get on one

Apparently HW, Seekingassylum just cant get his ducks all lined up....

Originally Posted by Edmond

The products being the bank books?


The bank manager gave you a fake bank book, so we're not going to give you your money.

Nice loophole to save them having to reimburse the millions.

I wager Kbank will back down, probably with a rare (for Thailand) apology, there's a lot of angry people out there. Against this is what I'm sure they've deeply considered, that it leaves not just them but all banks open to various theft and fraud by their representatives that control its life blood, ie money.

^^To be fair, he hasn't really had much time to pack his bag and fuck off since saying he was going to do just that during the sausages debacle.

I'm flattered you take such an interest but then, you are a rather diminished oaf with little to occupy your lumpen consciousness beyond reaching for your next condom wrapped bottle of Chang and slipping out on a pretext to secure a short time romp with your pug-nosed, bandy-legged Beach road Isaan whore.

A day in the life of Headwank.

Originally Posted by Seekingasylum

Indeed, one would think the BoT would intervene to compel Karzibank to act like a proper bank but then, this is Thailand and expecting regulatory competence can be naive.

Certainly, if they persist in evading their responsibility one might think it reasonable for the embassies representing the nationals who lost money to issue an advisory that Karzibank is not a reliable bank in which to deposit funds.

What regulatory integrity? I had a stock that posted a high divi (as I recall, around 30% after a stunning year). Minutes before the final afternoon session (14.30-16.30) preceding record day (ie when holders get paid), they announced they're withdrawing the divi because their accounts 'might' be inaccurate. My broker shrugged when I asked if they could do this without consequences, esp in view of their questionable timing, and a couple of days later as I was preparing my protest to the SET, all records pertaining to that scrumptious divi had been removed from the official SET website. Simply ceased to exist, including a record of the meeting at which the divi was set.

Ok so far, pissed off, sold quickly as the stock halved and stayed around there for the next year (or 2 years).

Guess what? - again they posted a decent divi, and replayed the same bait 'n switch minutes before the final session; not a peep from the 'regulators', beyond a two line comment that they asked this company to be more careful in future.

Originally Posted by Seekingasylum

And just why would anyone with the merest smidgin of intelligence wish to compare a retail bank manager stealing from the accounts of his customers of the national retail bank that employed him in the sole capacity as their bank manager with an independent investment fund manager operating on his own account, you gormless knuckle dragging oik.

It's PONZI scheme you poorly educated, slobbering, potato-munching peat digger. Don't you know what a fucking Ponzi scheme is?

Originally Posted by jabir

under any civilised order

Oh come on, now you're just being silly.

If only the victims had heeded this astute warning from the website of a well known......





Oh.

Actually their advice is spot on.

Originally Posted by taxexile

s.a.


but we are not dealing with people of intelligence here.

we are dealing with idiot farangs and their dumb wives along with greedy thais who have, without any due diligence, put on their rose tinted glasses and queued up to hand their money over to a man who promised them high interest rates. do they have any official bank paperwork, a contract, a deposit slip confirming the investments. no of course they dont .

.

From my reading of what reports seem to be available the manager counterfeited various bank documents including books and probably paying-in slips and receipts.

Essentially, Tax, we are in duck territory here: if it looks like a fucking national retail bank outside and you walk in and see the national retail bank logo and design language, and everyone behind the screens are in bank uniforms and the bank manager comes out of his office within the bank and this bank manager gets his bank staff to skivvy for him, copying, stamping and the hundred myriad other things Thai bank staff do then, fuck it Tax, you're probably in a bank and will trust it accordingly.

Blaming customers for believing that they were party to a kosher bank product is simply fucking stupid.

We don't hear you whining your bollox off because Brexit has caused grief for the thousands of fucking idiots who voted for it but who have now lost millions in that scam after they fell for th bollox that the new BRITISH protocols would make them "mightily prosperous".

Har, har. And you are mocking folk for falling victim to the chickenhead thievery?????!!!!!!

Originally Posted by Seekingasylum

Essentially, Tax, we are in duck territory here:

FFS don't get any more ideas about trying to line them up then

Originally Posted by Headworx

FFS don't get any more ideas about trying to line them up then

Have you got a cancerous tumour in your brain?

bwahahahahahahahahaha

Originally Posted by Paleo Robbie

The fact that that branch and that branch only were offering extraordinary high interest rates , much higher than the going rate and every other bank in the Country , should have aroused some suspicions .
Call head office and confirm the high interest rates are all in order .
Has just one person done that , the scam would have been identified more swiftly

Banks do have what they pimp as specials, usually less exciting than the brochure promises, though rarely like those offered by the scammer/s. Point is as others have expressed as the duck factor, when you walk into what looks like a bank with all the frills you expect it to be a bank.

What's more, victims were unlikely to check that other branches of the same bank were offering the same; if you are offered a deal at your branch, do you visit other branches to confirm that they are offering the same?

Can't fault the victims, esp if they have what they believed at the time was legitimate documentation.

Maybe this will result in victims taking (peaceful?) protest action nationwide, inside and or outside Kbank; and if that doesn't work, up the ante to generate media coverage against their offices in civilised parts of the world where people have higher expectations. Maybe wait until it reaches my 141 target.

Originally Posted by jabir

Can't fault the victims .........

Surely you CAN indeed fault the victims ?? Doesn't everybody know ...... " If it looks too good to be true ----- "

Seems like nobody ever heard of Charles Ponzi --- or Bernie Madoff !!

..... or mr gob!

Originally Posted by Seekingasylum

The thrust of my post was the unwillingness of his employing bank to accept responsibility for their employees.

You can sit in your KBank office wearing a KBank uniform and pick up your KBank telephone and call your local thug and tell him to kill someone . The bank has no responsibility for that . You can phone a bomb threat to an Airport . The Bank has not an atom of responsibility for that . If you use the Bank's logos and uniforms to give credence to your activity you are acting against the Bank .
Caveat Emptor .
The people rushed in with their cash because it was an unbelievable offer .
Unbelievable to the point of being Impossible and the Emptors were not doing much Caveating !!!

They might have got the deposit period mixed up with the monthy interest. Plus this bank has non resident only rates which might explain away why so many customers were at the bank. But they still should have caught on. If ppl are hauling money into the door, you gotta suspect something is up

Originally Posted by Wasp

You can sit in your KBank office wearing a KBank uniform and pick up your KBank telephone and call your local thug and tell him to kill someone . The bank has no responsibility for that . You can phone a bomb threat to an Airport . The Bank has not an atom of responsibility for that . If you use the Bank's logos and uniforms to give credence to your activity you are acting against the Bank .
Caveat Emptor .
The people rushed in with their cash because it was an unbelievable offer .
Unbelievable to the point of being Impossible and the Emptors were not doing much Caveating !!!

You do not need a bank's phone for that. You can pick up any phone to call your local thug and tell him to kill someone, and likewise issue bomb threats.

But when a bona fide representative of the bank uses its premises and trimmings to commit fraud against customers or their accounts, the bank must be responsible for any and all losses.

Note that whenever a theft or fraud occurs against customers or the bank, the first place investigators look is at its own staff which have the means, motive, and opportunity. Given that, it's also reasonable to suggest the bank is aware that accepting liability in this unusual case sets a precedent which would leave all banks vulnerable to all sorts of ongoing insider scams and fraud.

Let's move closer home, if a cashier uses her access to bank data, procedures and facilities to loot your account, would you simply write it off?

Originally Posted by strigils

Good grief, presumably they gleefully handed over cash without checking the small print of the non-existent glossy bank brochure. Sometimes people deserve what they get.

Lets face it. Pattaya wives probably invested this on behalf of Farang. "U don't know Thailand".

They do mention a monthly interest rate of 3.5%.

How can you go wrong?

I'm assuming this is the board the scammer/s placed prominently inside the bank, to catch a few fish. The other presumably honest bank staff never noticed it. Well, if they did notice then they failed to question it because they believed it was legit. There's no way around this, either they did not see it, day after day and resulting in what bank staff should recognise as unusual activity, or they did see it and believed it to be a legit promo, even if just another Thai bait 'n switch promo which they would have no reason to question.

So, if honest bank staff genuinely believed it to be kosher, someone please explain why members of the public should be penalised for believing the same.

Note we're talking about honest bank staff. Otherwise they were either in on it, or intimidated into silence. But this scenario gives the bank no wiggle room, because now it becomes a far more serious crime acted out on their premises using their good name and facilities.

Someone later mentioned that Pattaya wives can get up to some weird stuff. Well, even if they did not do their dd as sensible people should, being thick and with best of intentions suckered by a rogue manager inside a bank using what appears to be legitimate props and documentation, is no justification for the bank to evade its responsibilities.

The bank should cough up, with or without an apology for trying to weasel out of it, failing which victims should take whatever (peaceful and legal) actions they individually or collectively deem fit.

I rest my case.