Fortune reported that a popular Thai YouTuber defrauded thousands of individuals of $55 million through a foreign exchange trading scheme.
Thai YouTuber On the Run
Nutty, as Nathhamon Khongchak, has over 847,000 members on the video-sharing platform, where she became famous for sharing dancing clips.
After attracting customers, she advertised private forex trading lessons on Instagram. She promised her followers a return on their investment, but they never did.
The social media celebrity who convinced over 6,000 people to invest worked with Thai police to file accusations against dozens of her purported victims. Reports say followers were guaranteed 35% profits on their investment. The Thailand police’s Cyber Crime Investigation Bureau has heard from 102 scam victims, but fresh victims are coming forward daily.
Nutty disclosed to investors that she possessed 1 billion baht, or $27.5 million, in her previous IG post. She also alleges that a broker has barred her trading account and funds since March and will try to refund. Since then, the YouTuber has been wanted for fraud.
Many followers believe Nutty has left the nation. Immigration documents show she has not left Thailand.