Buddhist Nun Allegedly Involved in Investment Scam Arrested in Nakhon Ratchasima

Nakhon Ratchasima —

A Buddhist nun, who was a former company board member allegedly involved in an investment scam worth 1.3 billion baht, was arrested in Nakhon Ratchasima province, northeast Thailand on June 3rd.

Over 3,531 Thai people filed complaints to police alleging they were duped by the company named Concept Series Limited, which enticed them to invest in leasing cloud storage space.

The company offered returns to investors at higher rates than traditional financial institutions. As a result, the victims invested approximately 1.3 billion baht into the business and realized that they had fallen victim to a pyramid scheme only after the firm failed to fulfill its promised returns.

In response to the victims’ complaints, the company’s board members went into hiding and evaded arrest from May 3rd, 2022, until on June 3rd when police could finally arrest the prime suspect who was a former company board member, Mrs. Pattana Duangchana.

The 69-year-old suspect was apprehended at a meditation center in Nakhon Ratchasima province, northeast Thailand. She was a Buddhist nun.

Mrs. Pattana was charged with conspiring with others to defraud people, conspiring to obtain loans through fraudulent means from people, and conspiring to introduce distorted or falsified computer data into the computer system.

During the initial interrogation, Mrs. Pattana denied all allegations claiming she was originally a high school teacher. After retiring, she allowed her son to use her name as a board member in the company in question, without having any knowledge of the company’s operations or any other involvement. She then became a Buddhist nun after her retirement.

The suspect is undergoing the legal process with police reviewing her claims.

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Aim Tanakorn
The local news translator at The Pattaya News. Aim is a twenty-four year old who currently lives in Bangkok. Interested in English translation, story-telling, and entrepreneurship, he believes that hard-working is an indispensable component of every success in this world.