On October 9, 2024, at the Technology Crime Suppression Division (TCTD) in Muang Thong Thani, police announced the arrest of Phromthada Nakjaeng, also known as “Mae Bainaad,” a 31-year-old resident of Surat Thani, for defrauding over 500 victims through a TikTok live stream selling gold, leading to damages of over 85 million baht. Following these fraudulent activities, more than 200 victims filed a police complaint on October 7, 2024.
Police found that Phromthada had been hiding in several locations, with searches conducted at four different locations resulting in the seizure of evidence including furniture for gold storage, live streaming equipment, and other important documents. He was ultimately arrested under charges including fraud and disseminating false statements through a computer system.
During interrogation, Phromthada admitted to previously working at a jewelry store and learning about buying and selling gold. In 2024, he established his own gold company and began selling gold at prices approximately 50% lower than the market rate, enticing customers with claims of special offers for quick purchases. It is believed that this scheme resulted in losses exceeding 100 million baht before he halted sales earlier in 2024 due to fluctuating gold prices.
As of now, authorities have not discovered any valuable assets apart from a house, vehicles, and three bank accounts with merely tens of thousands of baht. Investigations are ongoing to determine whether Phromthada managed to transfer or launder any assets, given the reported turnover of over 200 million baht in his accounts.
This article was rewritten from a Thairath’s news article.
