BANGKOK, Thailand – A former beauty queen has filed a complaint with Thailand’s Department of Special Investigation (DSI), accusing two unlicensed Forex brokers of defrauding her of over 70 million Baht, equivalent to approximately 1.9 million US dollars.
Raid Against Illegal Currency Dealers
On June 19, Teerayapha Wijitmaneewat, widely known as Phet, appeared before the DSI building in Bangkok. This action followed a raid launched by officials against illegal Forex operations just three days prior. Phet provided her testimony, specifically naming two brokers targeted by the DSI and accusing them of an organized fraud scheme.
“They Simply Locked Me Out”
Phet described a consistent pattern of deception used by the brokers. She stated that while her trading was profitable, the brokers would secretly change her account password. Subsequently, they would sever the connection between her portfolio and the trading server. She recounted being effectively locked out of her account just before it collapsed, a procedure she claims happened more than 20 times. Phet insists this was a deliberate tactic.
Tens of Thousands of Dollars Lost Per Account
According to Phet, each instance resulted in the loss of between $20,000 and $30,000 per account. She acknowledged that a portion of the total loss exceeding 70 million Baht stemmed from her own trades. However, she attributes the vast majority of the financial damage to deliberate interference by the brokers. She has provided investigators with detailed records highlighting irregularities in the chart movements of several accounts.
Forex Trading Like Gambling
Phet explained that her introduction to currency and gold trading came through a friend. She now likens this trading style to gambling, particularly for investors lacking sufficient capital or discipline. Furthermore, she believes the system drains money from the Thai economy as most funds are channeled abroad. She is urging authorities to finally regulate the industry.
Criticism of Authorities and Personal Mistakes
Online, Phet has faced accusations of simply trading poorly, a claim she strongly refutes. She maintains that the documented chart discrepancies prove systematic manipulation. She is determined to pursue the case legally, with her evidence now in the hands of the DSI. Phet emphasized her refusal to accept the losses passively.
Psychological Pressure and Fighting Spirit
The immense sum lost has taken a significant toll. Phet openly discussed experiencing severe stress and having had previous thoughts of self-harm. Despite the hardship, she expressed a strong resolve to rebuild her life. Speaking to reporters, she stated her intention to warn others and hold the industry accountable. The case is now with the Department of Special Investigation.