Retired Aussie Policeman Loses THB40 Million in Crypto Scam
Former Queensland officer defrauded by German national in Phuket, shattering his retirement dreams in Thailand
- A 65-year-old retired Australian police officer, Michael Reinecke, lost over 40 million baht (approximately $1.1 million USD) in a fraudulent cryptocurrency investment scheme.
- Reinecke was reportedly lured by a German national in Phuket who promised high returns, leading to the complete loss of the retired officer's savings.
A 65-year-old retired Australian police officer has reportedly been swindled out of over 40 million baht (approximately 1.1 million US dollars) in a sophisticated cryptocurrency investment fraud.
Michael Reinecke, known as Tom, had intended to spend his golden years peacefully in Thailand with his Thai wife from Udon Thani but now finds his retirement savings decimated.
Reinecke, accompanied by his 50-year-old wife, Areerat Noonyot, and legal counsel Kritsada Lohitdee (also known as Lawyer Nobi), filed a formal complaint today at the Mueang Udon Thani Police Station.
They presented evidence to officers, urging legal proceedings against the alleged perpetrator, a German national identified only as Alex, who is believed to be residing in Phuket.
Alex is accused of luring Reinecke into a fraudulent digital currency scheme and a bogus investment website.
Reinecke explained that he became acquainted with Alex approximately a year ago through social media.
Alex, based in Phuket, subsequently invited Reinecke to meet him there and proposed an investment in cryptocurrency, promising lucrative returns of 5-10% per month.
Reinecke stated he decided to invest, swayed by Alex's apparent credibility and feeling fully convinced after their in-person meeting and discussions.
However, shortly after Reinecke committed his funds, Alex abruptly claimed that the cryptocurrency website had collapsed.
When pressed for an explanation, Alex attributed the loss to his phone being stolen and the money subsequently being hacked, leading to the complete disappearance of their joint investment. Reinecke has since been unable to establish any further contact with Alex.
The substantial sum of 1.1 million US dollars invested by Reinecke represented a significant portion of his retirement funds from his distinguished career as a police officer in Queensland, Australia, where he retired 13 years ago.
He had recently relocated to Thailand with the intention of settling down.
"I admit I made a mistake," a visibly distressed Reinecke confessed. "I was genuinely looking forward to a happy retirement with my Thai wife and never imagined I would be defrauded of nearly 40 million baht like this. I am deeply saddened."
He expressed his earnest hope that both the police and his legal team will assist him in recovering his lost funds and ensuring that legal action is taken against Alex, who he understands is a German national living in Phuket.
