Many of those who spoke with Police Colonel Phisit Phoolsap recalled being told their bank account books and documents were out of date by bank officials at other branches when they encountered discrepancies in their accounts. They also expressed anxiety about mutual fund investments undertaken on the advice of Mr Chaisit Sappermphool, who is no longer with the bank and being held in custody by Pattaya Provincial Court.

Foreigners in Pattaya are thought to be among the victims of a rogue bank manager with a leading institution in the city who is already behind bars and facing serious fraud charges after the bank he worked with filed legal proceedings against him. On Tuesday, the Chief of Pattaya Police Station met a group of extremely concerned foreigners who expressed their fears to him.

rogue-bank-manager-pattaya-chaisit-sappermphool-foreign-customers-bank-branch
The Chief of Pattaya Police Station on Tuesday briefed foreigners in the resort city who have made formal complaints about assistant bank manager, Chaisit Sappermphool, who is already in custody and facing legal proceedings after his bank employer filed a complaint against him for malpractice and potential fraud.

Foreigners in Pattaya have met with the Chief of Police in the city after it emerged that an assistant bank manager at a leading financial institution in the seaside resort has been arrested and is being held by the Provincial Court on fraud charges.

Up to a dozen foreign residents, many with Thai wives, have filed formal complaints with Pattaya Police Station against Mr Chaisit Sappermphool who, according to reports, was a friendly and helpful bank official who often attended to customer’s needs such as preparing lodgement and withdrawal slips as well as updating passbooks.

Account details and documentation showed inconsistencies and sparked alarm when enquiries were made at other branches in the province

The problems arose when the foreign bank customers began to notice their bank account details did not match with transactions allegedly executed at the bank.

Some customers were told their bank account passbooks were out of date and should not have been issued by their own bank branch.

At a meeting between the foreigners and Pattaya’s Police Colonel Phisit Phoolsap on Tuesday, the police chief explained that the bank officer had been using outdated bank books and account management materials to perpetrate fraud.

Bank has commenced legal action against the former assistant bank manager who is already in jail

He explained to them that the bank in question had already instituted legal proceedings against the former staff member alleging large amounts of losses for the fraudulent mismanagement of accounts over which he had authority.

This had already resulted in Mr Chaisit being held in custody. He told them the accused had already been denied bail by the Pattaya Provincial Court because of the nature of the offences he is being charged with.

Concern for mutual fund savings and investments to the tune of tens of millions of baht expressed

At the meeting with the top police officer, it also emerged that many of the foreigners also had concerns about mutual savings and investment funds that the assistant bank manager had put them into.

The foreigners told the police chief on Tuesday that they, alone, estimate an exposure to potential losses in the region of tens of millions of baht because of Mr Chaisit’s malpractice and alleged fraud.

Police have let it be known that this is an ongoing inquiry being treated as a priority and have appealed to any other customers of Mr Chaisit to come forward with similar complaints so that they can be fully investigated.

Join the Thai News forum, follow Thai Examiner on Facebook here
Receive all our stories as they come out on Telegram here

Further reading:

Police chief reveals massive fraud on We Travel Together scheme centred on a small Chaiyaphum resort

Chinese eyewear counterfeiter posed as Buddhist studies student to get a visa to live in Thailand in Buriram

Strict entry criteria to remain as officials await clarity on the medical status of vaccinated people

UK travellers welcome as top Thai officials reject calls to restrict entry over ‘Kent’ virus strain in Britain

Challenge of the virus and closure to tourism leads to major long term changes in the Thai economy

Finance Minister says economy must pivot away from tourism with a switch to S-Curve industries

Steady as she goes economy driven by exports and public investment with a 3.3% growth rate forecast for 2021

Thailand’s tourism boss targets thousands instead of millions as public health is prioritised above all

Thailand unlikely to reopen doors to mass-market tourism before the end of 2021 until after a full vaccination

Strengthening baht predicted as investors bet on a reopening of Thailand to mass tourism in 2021

World’s biggest free trade deal just signed will be a huge boost for the Thai economy and exports

US move against Thailand on trade is a warning as Thai exports to America boomed in September by over 19%

Thailand’s trade agenda may be complicated and thwarted by raised tensions in the Indo Pacific region

RCEP deal agreed as India opts out – busy Bangkok ASEAN summit concludes on a low key

Industry boss urges Thailand to join alternative Pacific trade pact and plan for a long recovery from virus debacle

Chinese FM to visit Thailand in a Covid battered world of raised tensions and potential conflict

Lowering of US flag in Chengdu is a wake-up call for foreigners living in Thailand and with close ties here

US is a better friend for Thailand than China says US ambassador as tensions grow between the 2 powers

Prime Minister indicates that the cabinet reshuffle will be complete very shortly with no problem

Thailand’s economy has become dependent on government expenditure to stay above water

Industry boss urges Thailand to join alternative Pacific trade pact and plan for a long recovery from virus debacle

Thailand and US aim for a new more ‘proactive’ trading relationship as ambassador meets Prayuth

Rice price spike but drought conditions to recede – security concern for the Mekong river

US election will impact investment and moves by US firms from China to Thailand says new American envoy

Thailand faces a third shock after the virus if high debt and the informal economy are not prioritised

MPs warned of an economic colony as opposition zeroed in on Thailand’s impaired relationship with China

US China trade war may have some silver lining or upside for Thailand if firms can be agile and adjust

US suspension of Thai preferential trade partner status part of Trump’s ongoing trade war