YouTube star ‘Nutty’ allegedly cheated subscribers out of $55 million
A popular Thai YouTuber allegedly tricked thousands of her subscribers into scamming around $55 million through a foreign exchange scam that allegedly promised big returns on their investments.
Known as Nutty by her followers, Natthamon Khongchak has garnered over 847,000 subscribers on a YouTube channel where she has posted dance videos. She also advertised private lessons for aspiring forex traders on her Instagram account, posting images of what she said were her profits.
More than 6,000 people gave Natthamon money to invest, the Nation newspaper reported, citing a lawyer who helped dozens of alleged victims file complaints with Thai police. Followers have been lured by promises of returns of up to 35% on their investments, according to the report.
In her last Instagram post, in May, Natthamon said she owed investors 1 billion baht ($27.5 million). In the video, she claimed her broker had blocked her trading account and funds since March, but said she would try to refund the money.
Natthamon did not respond to a direct message sent to his Instagram account on Tuesday.
A Thai police unit implicated in internet crimes last week issued an arrest warrant for Natthamon for fraud, according to Wattana Ketumpai, a police officer with the Cyber Crime Investigation Bureau.
So far, the bureau has received complaints from 102 people claiming to have lost a total of 30 million baht, he said. New victims are coming forward almost every day, with most claiming to have lost tens of thousands of baht, Wattana said. The numbers could be higher, he said, because complaints may have been filed with other police offices.
Although Natthamon has not been seen on social media since June, followers are speculating that she fled the country, The Nation reported. Still, immigration records show she did not leave Thailand, Wattana said.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)