A Nepali man was arrested on Sunday for allegedly defrauding other Nepali nationals out of millions of baht by luring them into investing in a bogus restaurant business in Thailand.

Kishor Rai, 32, was nabbed at a condominium in Bangkok´s Yannawa district after Thai authorities were asked to track down a man called Bibek Bantawa, as Rai was known to his alleged victims. 

The suspect allegedly convinced multiple victims to invest in a restaurant business and to pay for the business arrangements.

He then allegedly disappeared with the money.

Pawan Phuthong, a Nepali man who fell victim to the scam, said he met the suspect in Beijing.

Phuthong said Rai befriended him and subsequently lured him to pay more than one million baht to invest in a business in Thailand.

The victim said he became suspicious when he was denied entry to Thailand because his visa, arranged by the suspect, turned out to be a fake. 

He sought help from the Nepali embassy and found out about the scam. He then filed a complaint with Thai authorities.

The authorities said Rai had at least six accomplices and together they swindled about three million baht out of nine victims, all of them Nepalese nationals.

Seized from the suspect´s apartment were 15 bank books, 23 ATM cards and four fake passports. He lived in the apartment with his Thai wife.

Published on: 25 June 2013 | Republica