THE SCAM ARTIST: YouTube star Nutty flees to Malaysia after defrauding $55M from over 6,000 fans
Suchata Kongsupachak invited her followers to invest in forex trading with her company while guaranteeing up to 100 percent returns
The 30-year-old who has more than 840,000 YouTube subscribers reportedly conned and scammed more than 6,000 of her fans and persuaded them in investing in her forex trading company. Nutty who promised returns as high as 35 percent fled from the country.
According to DailyMail, Suchata is popular for her dance videos on her channel, Nutty's Diary, and was always engaged in posting her luxurious life across social media. She claimed she had gained a luxurious life from investing in forex trading via a broker called 'IQ option.' However, later it was found the 6,000 fans who invested in listening to her videos never received the profits they were promised and instead were scammed out of $55 million dollars. So far 102 victims had filed complaints to authorities.
Suchata’s followers started investing huge amounts of money into forex trading in April. However, their dream turned sour when the influencer itself confirmed at a later point through an Instagram post that she had lost all the money due to a “trading mistake”.Police officer Wattana Ketumpai said This week in Asia, “This scam is similar to other Ponzi schemes, but the differences are public relations and deceptive methods, there could be more complaints (from victims) in the future.”
The officer also mentioned that the further investigation also revealed Suchata was linked to the case of a Thai and Singaporean couple arrested in Malaysia on fraud charges earlier this month. The pair was accused of failing to deliver luxury watches and bags worth $22 million dollars to customers in Singapore. Wattana also stated how she made her fans invest in forex trading, "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." The police believe that the YouTube star might have fled to Malaysia.
He further explained to National Thailand, “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.” Kongsupachak, who runs a YouTube channel called 'Nutty's Diary', has changed her name twice. She was previously called Leah Kongchak and Natthamon Kongchak.