Plot Twist! Big Turtle Fires Back at Ton Bangkaew, Exposes Amulet Flipping Scam with Blank Check Schemes
A deputy police chief accused by famous amulet dealer Ton Bangkaew denies coercion allegations, instead revealing a 5-billion-baht scam ring involving Ton and eight others who defrauded victims through fake amulet rentals and blank checks.
At 3 PM on May 5, 2025, Deputy Police Chief Jarunkiat Pankaew held a press conference at the Anti-Corruption and Misconduct Suppression Office to address allegations filed against him by famous amulet dealer Ton Bangkaew at the National Police Office, Supreme Prosecutor's Office, and Phaholyothin Police Station.
Deputy Police Chief Jarunkiat stated that the accusations have caused him damage, particularly as he is near his annual appointment review date for 2025. He reserved the right to consult with his legal team regarding potential counter-litigation, though he acknowledged it remains Ton's prerogative.
According to Jarunkiat, the case began in early 2024 when a woman named Madam Kaeng sought justice after being defrauded by a nine-member amulet dealer ring, including Ton Bangkaew. The group allegedly swindled her out of over 2 billion baht during 2024-2025 through a rental scam involving amulets valued at 10 million baht, using post-dated checks as collateral.
The scheme worked by having one group rent amulets at a certain price with checks, then another group would rent the same items at higher prices with larger checks, creating artificial conflicts. The amulets would then be pawned for 20 million baht, forcing victims to redeem them. Investigators discovered the ring operated this scheme against numerous victims, totaling damages exceeding 5 billion baht. Investigators have charged three suspects, including Ton Bangkaew.
Regarding the widely-reported dispute between himself and Ton, Jarunkiat emphasized it is a separate matter and deferred comment to victims and their lawyers, who will speak on May 6, 2025. He denied receiving a 30% commission for debt recovery and clarified that he did not summon Ton on April 17—rather, Ton voluntarily approached him to mediate.
Jarunkiat denied using coercion or threats, stating he merely asked if Ton was willing to negotiate voluntarily. He noted that negotiations failed when Ton claimed to have no assets, though investigations revealed he possessed property worth approximately 60 million baht. When Ton's lawyer later offered branded handbags and luxury car documents valued below the check collateral on April 24, negotiations again stalled.
Jarunkiat stated he cannot confirm whether Ton accepted other cases but assured police have evidence contradicting Ton's statements. He warned the public that if they encounter this amulet-dealing ring, they should prioritize reporting the dealers, as they operate with blank checks.
Separately, Ton Bangkaew has accused Deputy Police Chief Jarunkiat of pressuring him to pay debts and claims he filed a complaint because he was coerced into debt settlement by creditors, denying there was an official order.
