Popular Thai YouTuber allegedly on the run over S$77m forex trading scam

A popular YouTuber from Thailand is said to be on the run after allegedly cheating thousands of investors of 2 billion baht (S$77 million) through a foreign exchange trading scam, according to a report by The Nation.

Natthamon Khongchak, better known as Nutty the YouTuber, had claimed that she was a successful forex trader.

A lawyer who is campaigning to help victims of the alleged scam said Natthamon has cheated about 6,000 victims, the report said. Natthamon promised investors high returns within a short time and exploited her popularity, according to the lawyer.

The online celebrity promised those who invested with her would reap 25 per cent returns for three-month contracts, 30 per cent for six-month contracts and 35 per cent for 12-month contracts, with returns paid every month.

Her customers began complaining against her from April onwards over payments that they did not receive.

Natthamon, who has over 800,000 followers on her YouTube account Nutty’s Diary, is said to have fled to Malaysia. One alleged victim is promising a reward of 1 million baht (S$38,391) to anyone who could give information leading to her arrest.

Natthamon said in an Instagram post in May that she lost all the money after making a trading mistake but promised to repay her investors. The following month, she said that she faced two lawsuits and would not be able to make repayments if she were to be imprisoned.

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