Nutty Diary YouTube star Suchata Kongsupachak flees Thailand after conning 6,000 of her fans into investing into a forex trading scam which resulted in investors being defrauded out of $60 million.
If only looks good kill … or deceive. A Thai YouTube star has gone gone on the run after she was accused of conning thousands of her fans out of $55 million in a foreign exchange trading scam, according to local police.
Suchata Kongsupachak, 30, who has more than 840,000 YouTube subscribers, allegedly conned 6,000 of her fans into investing in her forex trading company by promising returns as high as 35 per cent.
Kongsupachak, a dancer known as ‘Nutty’, often posted photographs on social media showing an array of luxury cars, watches and properties that she claimed she had gained from forex trading via a broker called ‘IQ option’, police said.
But it was all a lie – the 6,000 fans never received the profits they were promised and they instead were scammed out of $55 million (2 billion baht).
A lawyer who is representing dozens of the victims said one person sent $493K (18 million baht) to Kongsupachak’s bank account according to the dailymail.
‘I promise to pay you all back…’
News of the scam came after customers in April began complaining that they hadn’t yet seen any returns on their ‘investments.’ The social media influencer soon after told fans she had lost all of the money they had invested because of a ‘trading mistake’.
Nevertheless, Nutty promised she would pay people back, local outlet, thetaiger reported.
In June, Nutty said herself that she was being sued in two separate cases. She added that if she was imprisoned, she wouldn’t be able to pay people back at all.
Soon after the woman ceased to upload videos on to social media and seemingly vanished, with speculation that she may have fled to nearby Malaysia.
A Thai court in turn issued a warrant for her arrest on charges of fraud, reports the South Morning China Post.
Wattana Ketumpai, an officer at the Thailand’s Cyber Crime Investigation Bureau, told the Nation Thailand: ‘Suchata often posted photos on social media showing her wealth with luxury cars, watches, bags and property while claiming she had gained them from forex trading via a broker called ‘IQ option’.
‘She then invited her fan club and followers to invest in forex trading with her company called Suchata Co Ltd, while guaranteeing up to 100 per cent returns. Investments could be made either in cash or via a fiduciary contract.’
Linked to mystery couple with history of prior fraud
Prosecutors say Nutty’s case is linked to the case of a Thai and Singaporean couple arrested in Malaysia on fraud charges. The couple allegedly failed to deliver luxury goods – mostly watches – worth US$32 million to customers.
More than 100 victims have come forward so far to file complaints against Kongsupachak.
The investors have now offered a $136K reward to anyone who can provide them with information as to Kongsupachak’s whereabouts.
Kongsupachak, who runs a YouTube channel called ‘Nutty’s Diary’, has changed her name twice. She was previously called Leah Kongchak and Natthamon Kongchak, Nation Thailand reported.
Nutty’s whereabouts remain unknown, although she is thought to have fled to Malaysia.
