Tens of thousands of people across Thailand have discovered they are victims of a fraudulent online money-making app developed by the ‘SPM Shopping Mall’ website www.shopping.baironghj.com
This is roughly how it worked…
Victims would transfer money into a Thai bank account and the app promised returns of up to a 300 percent profit within 10 days which, for the first two-months, it did.
Users would be asked to rate items in the online shopping mall by ‘spinning’ a positive review or rating into the ether, apparently attracting customers worldwide to buy products and generate commission.
Users would be rewarded for their efforts, based on the number of clicks and the money they invested.
The more money invested, the greater opportunity they had to promote more expensive products.
Naturally, after receiving early payouts from the app of, sometimes, hundreds of thousands of baht, people were encouraged to invest more… and more… AND EVEN MORE.
To begin with most people readily admitted to not fully understanding how their ‘investment’ really worked.
Although, to be fair to them, most early investors in Facebook, Amazon, PayPal and Bitcoin didn’t fully understand how those online investments could make any money either.
It is currently thought that many millions of baht is involved in the elaborate pyramid scheme.
Some people claim to have invested more than 500,000 Baht personally.
It is generally believed there is little the Thai police can do in such cases. However, since the fraudsters were using illegally opened accounts at three Thai banks, which are now empty, the banks themselves could be forced to return customer cash AND face money laundering or other criminal charges.
They certainly should be held partly responsible for committing, or at least enabling, a fraud on Thai citizens. (continued below)
So who’s behind all this?
Here’s a list of the domains that were registered for this grand scam….
1: https://spm.baironghj.com
2: https://spm.diyinobuone.com
3:https://spm.klayky.com/
4: https://shoppingmall.ubsguoji.com
5: https://shoppingmall1.klayky.com
6: http://shoppingmall.diyinobuone.com
All of them were registered in different cities in China and Hong Kong between March 2020 and Dec 2020 by Mr.Xiao Dong Gan (e-mail email@yeah.net)
