Asianpay.com has problem with the police in Thailand

CHIANG MAI : More than 20 villagers in Hang Dong district yesterday filed a complaint with police accusing a chit fund operator of deceiving them into investing with him.


The villagers alleged that AsianPay Co Ltd, which is operated in tambon Ban Tawai by Italian businessman Carlo Sorio, had persuaded more than 300 clients, Thais and Singaporeans, to invest with him, promising to provide them very good returns.The company's website www.asianpay.com shows it also has an office in Singapore.


Each client was required to invest a minimum of 20,000 baht over a certain period, varying from 15 and up to to 360 days, the villagers said. At the end of the investment period, they were to receive the invested capital and the interest.


The villagers said the company, which was established about four years ago, paid daily returns to its clients, or members, in the first few years.


One villager who asked not to be named, said he invested 50,000 baht in the company. The company initially paid him US$3 a day.


He then advised his relatives to become members. All transferred money to the chit fund via commercial banks.


The villagers complained the company stopped making payments to the members, saying it had encountered money flow problems.


Pol Lt-Col Tikawut Banditchusakul, the inspector at Hang Dong, said police would send the case on to the Department of Special Investigation if it was found to be a type of chit fund scam, luring people with false promises.


It is believed the fund had a lot of clients in Chiang Mai.

I seen one member on the forum promoting the site but now he says he not doing it anymore.

http://forums.digitalpoint.com/member.php?u=14163

 

Yeah is called HYIP

 

in thailand it is called chit funds alot of them in North Thailand

 

Do you happen to live in Thailand?

 

I have signed up with their payment processor a couple of years back when I was still heavy into HYIPS. I think they are encountering the same problems as stormpay has when 12dailypro folded.

 

i am in thailand yes, well they are in big problem now.

 

Ahh thats quite a good conversion, USD to thai baht

 

I do not know what you are talking about but your post has been reported as spam.

 

Just a question: what has been reported as spam? I do not see any spam there

Beware of HYIP anyway

Any official link concerning this case?

 

When someone post somthing that has nothing to do with the post it is spam. They just want to get points.

No i have not seen anything in Thai media about this just now.

 

So where did you copy/paste the case from? Where did you get the information?

 

That was what I wondered as well.

 

same for me, worried about it, i guess thats his personal wordings...LOL

 

Strange...

 

I had been using their e-currency exchange service for a long time and when they started this investment corner i also thought to invest with them but fortunately i got bust and forgot to invest them. I don't think that there is anyone who can provide such return continuously as Forex and other trading market are the only way to make such return and i think everyone knows that they are not always profitable.

So, i'll say that it was my luck that i did not invested.

 

I got the info from the Thai New Pappers but then after this it has been silent. It will not pop up until someone get convicted. There is so many of this things going on in Thailand right now.

 

Very strange that there is nothing about this on the internet

 

I doubt that they even post the news on the internet. It is not a big news in Thailand it was not even in Bangkok Post it was only on local news in CM. If it is not in Bangkok it has not happen.

 

Well, I dont think that anyone is really gonna get convicted. I have read in past the money speaks really well in thailand and of the accused show the money power they can get away with this thing really easy.

Let's see how much of this will be truth and how things go on.

 

When AsianPay first opened in like 2004 or 2005 I got involved, also invested, then for some reason since I never verified a bank account or whatever they just took my investment and I had a few dollars invested.

Crap processor anyways..