July 24, 2024

Release Date: July 7, 2024 at 18:35

  •   Compact View
  •   Standard View
  •   Expanded View

Pimprapassorn Jaemjaras, 44, was detained on Saturday. (Image provided)

Pimprapassorn Jaemjaras, 44, was detained on Saturday. (Image provided)

A female suspect implicated in the OD Capital fraud, resulting in losses over 5 million baht, has been apprehended at a Buddhist temple in Pathum Thani’s Khlong Luang district.

Metropolitan Police Bureau (MPB) Chief, Pol Maj Gen Teeradej Thamsuthee, reported that Pimprapassorn Jaemjaras, age 44, was detained on Saturday by virtue of a warrant issued last year by a Surat Thani court.

Ms. Jaemjaras is suspected of colluding in fraud as a principal player in the OD Capital team, which was revealed to be a Ponzi scheme in 2019.

The scheme enticed investors with a promise of no less than a 10% return. When the fraud was uncovered, victims in Surat Thani who had lost over 5 million baht lodged police complaints against Ms. Jaemjaras. An arrest warrant was issued when she failed to respond to the charges.

Police tracked her down after an extensive investigation, discovering that she frequently visited a well-known temple in Pathum Thani, often altering her hair as a possible disguise.

Disguised officers attended a temple event, identified Ms. Jaemjaras and effected her arrest. Pol Maj Gen Teeradej stated that the suspect refutes the allegations, maintaining her investments were legitimate and had earned a 7% return each month, which led her to encourage others to invest.

However, the company began facing financial difficulties in 2018 and stopped returns. After initial questioning, Ms. Jaemjaras was transferred to Surat Thani police.

In a 2018 clampdown on similar schemes, police identified 48 suspects, but only made 38 arrests related to fraud totaling up to 10 billion baht.

#### Frequently Asked Questions:

What is a Ponzi Scheme?

A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors using funds obtained from newer investors.

What measures are taken to combat such schemes?

Regular crackdowns by law enforcement are conducted and suspects are actively sought. The public is also educated about the existence and risks of such schemes.

How can investors protect themselves from such schemes?

Potential investors should conduct independent verification of potential investments or seek advice from trusted financial advisors. They should also be wary of investments that promise unusually high returns.