British-led Pattaya investment scam exposed as police arrest a British man and five Thai women over a ฿300m fraud that duped 400 victims, many retirees, using fake traders, false insurance and dud cheques, while a German suspect remains on the run.
The Economic Crime Suppression Division (ECSD) of the Central Investigation Bureau (CIB) held an extraordinary press conference on Friday to expose a Pattaya-based fraud ring targeting expat residents and investors. A British man, identified as Mr. Bradley and five Thai women were arrested, while a German national remains at large. Police estimate losses at ฿300 million. Investigators said the group ran an elaborate Ponzi scheme, funnelling investments through company accounts and withdrawing cash. The suspects posed as gold and stock investment managers with supposed bank links, using fake “investment insurance” policies and worthless cheques issued by the front company King Power Gold for billions of baht.
A British man and five Thai women have been arrested over a large investment fraud operation that deceived more than 400 victims. Many of those victims were retirees living in Pattaya. Total reported losses exceeded 300 million baht, according to police. The arrests were announced on January 23, 2026, following a press briefing at Central Investigation Bureau headquarters in Bangkok.
According to police, the suspects were apprehended in coordinated operations in Chon Buri and Nakhon Ratchasima. The arrests followed months of investigation by the Economic Crime Suppression Division.
Pol Lt Gen Natthasak Chaowanasai, commissioner of the Central Investigation Bureau, confirmed that six suspects are now in custody. However, he also confirmed that one suspect remains at large.
Police identify British and Thai suspects as investigation confirms one German still at large
The British suspect was identified only as Bradley, aged 52. Meanwhile, five Thai women were arrested alongside him. They were identified as Pornphreuruehat, Thongbai, Mananchaya, Khamporn, and Thidarat. Their ages range from 37 to 59. Police withheld surnames in official disclosures.
According to investigators, a seventh suspect, a German national, remains on the run. Police believe he played an administrative role. In particular, he allegedly managed online communication channels used in the scheme. Authorities said efforts to locate him are ongoing.
Police said the group operated as a transnational investment fraud syndicate. The operation used the name “King Power Gold.” The name was selected to project credibility and familiarity. Pol Maj Gen Thatphum Jaruprat, commander of the Economic Crime Suppression Division, led the investigation and presented detailed findings.
According to police, the network handled more than 300 million baht in circulation. The funds moved through over 100 bank accounts. Investigators traced extensive internal transfers. In many cases, large sums were withdrawn as cash shortly after receipt.
Police trace 300 million baht flow through over 100 accounts as raids seize documents and cheques
During coordinated raids, officers seized extensive evidence. First, they recovered 13 boxes of documents containing investment plans and investor lists. In addition, police seized 10 mobile phones, three laptop computers, and one tablet. Meanwhile, financial items were also recovered, including six bank passbooks and four chequebooks.
Furthermore, officers seized 30 issued cheques. The cheques carried stated values totalling several billion baht. According to investigators, the cheques were used as collateral to reassure investors. Later checks showed the linked accounts had already been closed.
Police said the case began in April last year. At that time, Thai and foreign victims filed complaints with the Economic Crime Suppression Division. According to those complaints, victims were lured into a stock trading scheme promising unusually high returns. The promised rates ranged from 181 per cent to as high as 3,680 per cent per year.
According to investigators, the suspects claimed to be world-class stock traders. They presented themselves as experienced professionals with access to global markets. To reinforce credibility, the group established a front company named King Power Gold Business Development Co. Police later found the company had no genuine investment activity.
Front company King Power Gold used false bank links and trader claims to sell high return investments
The suspects also claimed partnerships with leading Thai banks. They promoted the idea of large-scale stock investments. However, investigators found no evidence supporting those claims. Financial checks confirmed that no stock trading ever took place.
Police identified Ms Pornphreuruehat as the leader of the group. She operated a restaurant and bar in South Pattaya. According to investigators, the venue played a central role in the scheme. It was used to meet and approach potential victims.
According to police, the suspects targeted retired expatriates with savings. Many were foreigners living in Pattaya. The suspects reportedly built personal relationships before discussing investments. This approach reduced suspicion among victims.
After initial contact, victims were invited to formal investment presentations. These events were held at five-star hotels and luxury restaurants in Pattaya. According to investigators, the locations were chosen deliberately. The settings conveyed legitimacy and financial success.
Messaging groups and fake insurance contracts used to reinforce trust while payouts were delayed
Subsequently, victims were added to private LINE and WhatsApp groups. These groups were used throughout the scheme. Within them, victims received fabricated dividend schedules and falsified financial statements. The documents were designed to appear professional and consistent.
Moreover, investigators found contracts circulated within the groups. These contracts were described as “investment insurance.” However, police later confirmed they were standard life insurance policies. They offered no investment protection or guaranteed returns.
Meanwhile, the suspects used individuals posing as guarantors. These individuals claimed to secure profits and payouts. According to police, these guarantees were entirely false. Their purpose was to strengthen investor confidence.
As payment deadlines approached, problems began to surface. Victims reported repeated delays in receiving returns. According to complaints, the suspects blamed banking system disruptions and tax issues. These explanations were used to stall payments.
Refund demands exposed Ponzi structure as new investor funds paid earlier victims with no profits
Eventually, some investors demanded refunds. In response, the suspects issued guarantee cheques. However, police later confirmed that the cheques could not be cashed. The related bank accounts had already been closed.
Financial investigations later revealed the full structure of the scheme. According to police, no profits existed. Instead, funds from new investors were used to pay earlier participants. This created the illusion of steady returns.
Investigators described the operation as a Ponzi-style arrangement. Money circulated internally within the group. There was no external investment income at any stage.
Police identified more than 400 victims. The list included both Thai and foreign nationals. Many were retirees living in Pattaya. Total confirmed losses exceeded 300 million baht, although investigators said the figure may increase.
Police detail roles of suspects as warrants issued, six arrested and one foreign coordinator hunted
Pol Col Chamnan Chanthet, superintendent of ECSD Division 4, said arrest warrants were issued for seven suspects. Six were arrested this week. The arrests took place in Chon Buri and Nakhon Ratchasima.
According to police, Ms Pornphreuruehat acted as the main account holder. She allegedly received direct transfers from victims. Mr Bradley was accused of recruiting foreign investors and compiling victim lists. He also helped build trust among expatriate communities.
Meanwhile, Ms Thongbai and Ms Mananchaya solicited investments and managed documentation. Ms Khamporn was listed as a director of the front company and helped issue cheques. Ms Thidarat supported the operation by promoting insurance-backed returns.
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The German suspect is believed to have administered the LINE and WhatsApp groups. Police said he played a key coordinating role. He remains under active pursuit.
All six arrested suspects denied the charges during initial questioning. They were handed over to Economic Crime Suppression Division investigators. Charges include fraud, fraudulent borrowing from the public, and importing false computer data.
According to police, the investigation is expanding. Officers are tracing additional accomplices and victims. They are also reviewing further financial records. The case remains under active investigation.
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