Police in Laos have provided an update on the case of fraudster Phonethip Xaypanya, known as Jie Thip, who was arrested in Thailand in July.
Col. Bounom Xayavong, Head of the Economic Police Division, told the media that Ms. Phonethip and her husband, residents of Hua Khua Village in Vientiane’s Saysettha District, had confessed to defrauding more than a thousand people.
Ms. Phonethip and five other individuals connected to the case defrauded more than 1,600 people across the country through a scam investment scheme.
According to police, the group successfully swindled funds amounting to LAK 355,035,418,000 (USD 22.8 million), THB 305,106,537 (USD 8.2 million), and USD 7,811,665 through the scheme.
Police have confiscated properties, vehicles, and jewelry from Ms. Phonethip, as well as arresting five other individuals.
Hundreds of victims had contacted police after Ms. Phonethip fled to Thailand in June, with police in Laos and Thailand working together to track and arrest Ms. Phonethip on 29 July.
Working with her husband, Ms. Phonethip used online channels to convince victims to invest in an investment scheme, claiming to offer returns of up to 30%.
Ms. Phonethip initially denied the charges when interviewed by Thai reporters.