Over 500 victims have filed charges against “Mother Bai Naad,” who conducted live sales of gold online. Initially successful, the operation later fell silent, resulting in losses exceeding 85 million baht. Many believed in the operation due to VIP groups inviting celebrities to birthday celebrations, which increased their trust.
On October 7, 2024, at the Police Technology Investigation Bureau in Nonthaburi, victims, led by justice advocacy members, reported their issues to authorities. The complaints focused on Phromthada Nakjaew (aka Bai Naad), a director of Thada Gold and the significant financial damages incurred.
One victim, Ms. Meisa, was lured in by cheap promotions found during a TikTok livestream. The seller claimed to operate a well-established gold trading company and offered competitive prices, which attracted many buyers. However, after initial transactions, many customers received nothing upon purchasing larger quantities, leading to widespread financial loss.
Victims reported losses ranging from tens of thousands to hundreds of thousands of baht, particularly amongst high-profile clients purchasing larger amounts. Complaints suggest the practice was akin to money laundering, as funds from newer buyers were allegedly being used to pay earlier ones.
Notably, the seller’s credibility was further bolstered by organized birthday parties that featured celebrities, making many feel secure in their purchases over the past year. Victims initially received their purchases, which bolstered trust, but the scheme quickly collapsed.
According to police, around 500 victims are involved, with losses over 85 million baht. They are handling the investigation under laws concerning fraud and computer crime, mobilizing a dedicated team of 35 investigators to gather evidence and hear testimonies from the victims.
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This article was rewritten from a Thairath’s news article.
