Over 100 Phichit Residents Complain of Community Fund Embezzlement, Losing 30 Million Baht

Over 100 Phichit residents are complaining about a community financial institution that has embezzled 30 million baht, with members unable to withdraw their deposits. On February 18th, at the multi-purpose building of Ban Na Subdistrict Administrative Organization in Wahcirabharami District, Phichit provincial officials including Deputy Governor Kitiphol Wetchakul and other key officials visited to meet with affected members and investigate the incident. The community fund, originally developed from a village cremation fund and not registered with the Community Development Department, had expanded to over 1,000 members by offering high 5% annual interest rates. When members attempted to withdraw funds, the institution refused, claiming debt collection issues and simultaneous massive withdrawals causing liquidity problems. Investigations reveal approximately 100 victims with total damages around 30 million baht, and the institution's bank account contains only 60,000 baht. Victims are pursuing legal actions through police reports, prosecutor's offices, and private legal counsel.