Profit Pulse Scam: How an Online ‘Investment Seminar’ & Fake Analyst Stole Millions

Thailands Cyber Crime Investigation Bureau (CCIB) has uncovered a large-scale online investment scam that defrauded victims of more than 28 million baht, exposing a sophisticated criminal network that used social media, messaging apps, and fake investment platforms to deceive investors across the country.

According to police reports, the case began when victims lodged complaints with the bureaus Second Division. They had discovered a Facebook page impersonating a well-known investment analyst, which promoted high-return investment opportunities. The page actively contacted users through private messages, inviting them to join exclusive investment groups.

Once victims joined, scammers reached out through LINE, posing as secretaries or personal assistants. These individuals encouraged participants to attend Zoom-based online investment seminars, carefully staged to appear legitimate and professional. During these sessions, the victims were introduced to an alleged investment scheme called “Profit Pulse”, which promised large profits by buying unlisted shares at low prices and reselling them at higher rates.

The fraudsters directed participants to register on a fake trading platform and later asked them to transfer funds into several corporate bank accounts, claiming the payments were required for stock purchases. As trust grew, the scammers continued demanding more money for supposed service fees, analyst costs, maintenance charges, and even account unlocking deposits, warning that the accounts could be “reset” if payments were delayed.

Several victims, believing these claims, made repeated transfers totalling hundreds of thousands or even millions of baht. When they later tried to withdraw their “profits”, they found themselves locked out of the platform. The scammers then fabricated a story that the accounts had been “hacked” and demanded additional money to restore access. Realising they had been deceived, the victims reported the matter to the police.

Investigations revealed that the fraud network operated through 20 shell companies and 21 corporate bank accounts, involving 18 suspects. Arrest warrants were issued for all of them, with 11 formally charged and 7 already detained.

Further inquiries uncovered another group hired to accompany fake company directors to banks, helping to withdraw and distribute the stolen funds. This led to seven additional arrest warrants, with six suspects apprehended.

Although the scam was uncovered in Thailand, its structure and tactics closely mirror those used in cross-border investment frauds that often target investors in neighbouring countries. Such operations could easily spread into Malaysia, where similar scams have been observed in recent years. Malaysians should remain vigilant and verify any investment opportunity, particularly those promising unusually high returns.