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Chiang Rai Couple Arrested Over Bt24Million Forex Investment Scam

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A married couple who offered online Forex foreign currency exchange classes in the northern province of Chiang Rai have been arrested for allegedly duping people into investing over 24 million baht in a fake Forex investment scheme.

A combined team of officers from the Metropolitan Police Bureau’s Investigation Division (IDMP) and the Police Cyber Taskforce (PCT) arrested Kanok, 36, and his wife Thanyachanok, 37, in front of a house in Chiang Rai’s Muang district, according to IDMB commander Pol Maj Gen Teeradet Thammasuthee. The surnames of the suspects were withheld.

The arrests were made in response to several complaints from victims who claimed Mr. Kanok and his wife had posted video clips on social media offering advice on Forex foreign exchange investment and speculating. Under the moniker “K1FX Trader Club,” the pair offered online financial classes, with the husband functioning as a main instructor. Many others had applied to learn from them.

In August 2019, the club announced on LINE and Facebook that it had established a fund firm that guaranteed a minimum monthly return of 5% on the principal with 100% capital protection. This enticed many victims to invest with the firm, resulting in approximately 24 million baht invested before the firm was closed down.

The pair, both Chiang Rai residents, were arrested when police initiated an inquiry.

Ms. Thanyachanok was wanted for public fraud, placing false information into a computer system, and fraudulent borrowing, according to an arrest warrant issued by the Nakhon Pathom Provincial Court on August 26, last year. According to Pol Maj Gen Teeradet, Mr. Kanok was wanted in an arrest warrant issued by the same court on March 17 this year on the identical charges.

During her interrogation, the woman rejected all charges, alleging that her husband used her bank account to receive money transfers from victims.

Mr. Kanok admitted to all counts. He informed investigators that he worked as a government servant before becoming interested in currency speculating. He later resigned from the federal service to operate a Forex trading firm.

He claimed that he had not planned to deceive the victims, but that he had suffered losses as a result of his own currency trading activity.

Ms Thanyachonok also has a criminal record and was wanted for fraud on another arrest order issued by Thanyaburi Provincial Court on August 17, 2021. According to Pol Maj Gen Teeradet, she was wanted for another offence in an area under the jurisdiction of Khu Khot police station.

Forex-3D fraud suspect arrested

About Forex

The process of buying and selling currencies in the worldwide foreign exchange market is known as forex trading, sometimes known as foreign exchange trading. It is the world’s largest and most liquid financial market, with an average daily trading volume in the trillions of dollars.

Banks, financial institutions, corporations, governments, and individual traders are the key participants in the forex market. Forex trading is often carried out through a decentralised network of financial centres located in several time zones, allowing trade to take place 24 hours a day, five days a week.

Forex trading scams are fraudulent activities that attempt to dupe people into investing money in bogus or illegal forex trading schemes. These frauds can take many different forms and can affect both skilled and new traders. Here are some examples of popular forex trading scams:

1. Ponzi Schemes: Ponzi schemes promise great returns on investments while using funds from new participants to repay previous investors. When there aren’t enough new investors to keep the plan going, it eventually fails.

2. Scam Signal Sellers: Scammers promise to offer profitable trading signals or methods that guarantee success in the forex market. These signals are frequently provided for a price, however they may be based on erroneous or altered data, resulting in losses for buyers.

3. Fake Forex Brokers: Scammers may set up phoney brokerage firms that appear authentic but are set up to steal money from investors. They may manipulate trading systems or refuse to enable withdrawals, trapping cash.

4. phoney Investment Funds: Scammers may set up phoney forex investment funds that claim to be managed by skilled traders and provide huge returns. However, these funds may not exist, and the crooks will just take your money.

5. Scam Trading Software: Scam trading software is frequently offered as a strategy that can make automatic gains in forex trading. These programmes typically involve an upfront investment, but they rarely deliver on their promises and may even result in losses.

Learning the Necessary Documents to Get a Forex License

Consider the following actions to protect yourself against forex trading scams:

1. Conduct extensive research: Before investing any money, confirm the legitimacy of brokers, investment firms, or trading systems. Examine for regulatory licences, user reviews, and independent evaluations.

2. Be wary of unrealistic promises: If an offer appears to be too good to be true, it most often is. Avoid investment programmes that promise large returns with little or no risk.

3. Be aware of unwanted offers: Be suspicious of unsolicited emails, phone calls, or social media messages advertising forex trading prospects. Legitimate brokers and financial firms rarely use aggressive marketing tactics.

4. Understand the risks: Forex trading is fraught with danger, and there are no surefire tactics or systems that can guarantee profits. Learn about forex trading, risk management, and common trading strategies.

5. Use regulated brokers: Select trustworthy brokers who are governed by respected financial bodies. Regulatory control ensures that brokers follow specific requirements while also protecting investors.

If you feel you have been a victim of a forex trading fraud, contact your local financial authority or police enforcement. It is critical to act fast in order to enhance your chances of recovering your monies and preventing others from becoming victims of the scam.

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Bangladesh Supreme Court to Rule on Controversial Job Quotas Amid Nationwide protests

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Bangladesh Supreme Court to Rule on Controversial Job Quotas Amid Nationwide protests

(CTN News) – The future of public service hiring regulations, which have provoked national conflicts between police and university students that have resulted in at least 133 fatalities so far, is set to be decided by Bangladesh’s Supreme Court on Sunday, or today.

Later in the day, the nation’s highest court will meet to declare its decision about the controversial job quotas—either in favor of or against their elimination.

This week’s protests over politically motivated admission quotas for highly sought-after government posts turned into some of the worst instability during Prime Minister Sheikh Hasina’s watch.

Due to the ongoing turmoil, a curfew has been in place since Friday. In addition, the government has declared a two-day holiday during which all offices and institutions would be closed.

After riot police were unable to restore order, soldiers are now policing cities throughout Bangladesh, and since Thursday, there has been a statewide internet blackout that has severely limited the flow of information to the outside world.

SEE ALSO: Nearly 1,000 Indian Students Return from Bangladesh Amid Deadly Unrest Over Job Quota System

Hasina made hints to the public this week that the plan will be abandoned, which comes after her opponents accuse her government of using the judiciary to further its own agenda.

However, a positive decision is unlikely to calm the nation’s simmering rage in the wake of the intensifying crackdown and growing dead toll.

Business owner Hasibul Sheikh, 24, told AFP, “It’s not about the rights of the students anymore,” while observing a Saturday street demonstration in the capital city of Dhaka against a statewide curfew.

“Our demand is one point now, and that’s the resignation of the government,” he stated.

A system that reserves more than half of civil service positions for particular groups, like as children of veterans of the 1971 war, is the driving force behind the upheaval this month.

Hasina, 76, has ruled the nation since 2009 and won her fourth consecutive election in January following a ballot in which there was no real competition, according to critics who claim the program helps families who support her.

Rights organizations accuse Hasina’s government of abusing state institutions, including as the extrajudicial assassination of opposition activists, in order to strengthen its grasp on power and quell dissent.

Bangladesh’s 170 million people lack access to sufficient employment possibilities, therefore the quota system is a major cause of anger for recent graduates who are struggling to find work.

“The government’s actions have made the situation worse, rather than trying to address the protesters’ grievances,” Pierre Prakash, Asia director of Crisis Group, told AFP.

After a week of increasing violence, Hasina canceled her intentions to depart the nation on Sunday for a diplomatic trip to Spain and Brazil.

Source: The Indian Express

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Pakistani Government Plans to Ban PTI

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Pakistani Government Plans to Ban PTI

(CTN News) – The Pakistani government has announced measures to outlaw Pakistan Terheek-e-Insaf (PTI), the party of imprisoned former Prime Minister Imran Khan.

Information Minister Attaullah Tarar made the declaration on Monday, only days after the Supreme Court declared the PTI eligible for a share of reserved seats in national and provincial assemblies.

After reviewing all relevant information, the government has decided to ban PTI. “We will file a case to ban the party,” he said, citing claims such as inciting violent protests last year and leaking confidential information.

Tarar stated that the case would be moved to the Supreme Court.

He also stated that the government intended to file treason charges against Khan and two other senior party leaders, former President of Pakistan Arif Alvi and ex-Deputy Speaker of the National Assembly Qasim Suri, as well as a review appeal against the Supreme Court’s ruling that the PTI should be allocated some assembly seats reserved for women and members of religious minorities.

According to Sayed Zulfiqar Bukhari, a top PTI politician and party spokesperson, the government’s action “betrays their complete panic”.

“After realizing that they could no longer threaten, compel, or blackmail judges, they decided to make this move through the cabinet. “All of their attempts to stop us have been declared illegal by the courts,” he stated.

Last week, the Supreme Court recognized the PTI as a political party and confirmed that the party’s lack of an electoral emblem did not affect its legal right to field candidates.

The verdict was in response to the PTI being barred from competing in parliamentary elections in February using its party emblem, the cricket bat, forcing it to field candidates as independents.

Despite the setback, PTI-backed candidates emerged as the largest parliamentary bloc, winning 93 seats.

After Khan declined to cooperate with his political opponents, the Pakistan Muslim League-Nawaz (PMLN) and Pakistan People’s Party (PPP) formed a coalition government with other smaller parties.

Ex-Governor Sindh Zubair, who formerly served in the PMLN, stated that the government’s action was in response to the Supreme Court’s ruling last week and warned of political upheaval ahead.

“The powers that be are trying to disenfranchise the largest majority of voters of the country, who voted for PTI,” he disclosed to Al Jazeera.

Khan was appointed prime minister in August 2018 but was dismissed from power in April 2022 after a parliamentary vote of no-confidence.

The cricketer-turned-politician has since faced a slew of legal issues, including charges of misplacing and leaking the contents of a confidential cable delivered to Islamabad by Pakistan’s then-ambassador in the US in 2022.

Khan has continually disputed the charge, claiming that the dossier contained evidence that his resignation as prime minister was orchestrated by his political opponents and the country’s powerful military, with assistance from the US administration. Both Washington and Pakistan’s army deny the accusation.

Despite multiple recent court verdicts in his favor, Khan has been in prison since August of last year.

Source: Aljazeera

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NAB Re-Arrests Imran Khan and Bushra Bibi After Iddat Case Conviction Overturned

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NAB Re-Arrests Imran Khan and Bushra Bibi After Iddat Case Conviction Overturned

(CTN News) – Former Prime Minister Imran Khan and his wife, Bushra Bibi, were acquitted in the Iddat case by a sessions court on Saturday, less than 24 hours after the Supreme Court ruled in favor of the PTI in reserved seats.

However, their relief was short-lived when Imran Khan was detained by the National Accountability Bureau (NAB) for selling official goods. Bushra Bibi was also rearrested in this case while being released from Adiala Jail’s Gate No. 3.

According to sources, the NAB detained Bushra Bibi after the bureau’s chairman issued arrest warrants for her and Imran Khan. Both are to be investigated in Adiala Jail.

Opposition leader Omar Ayub Khan condemned Bushra Bibi’s imprisonment and criticized the Adiala Jail administration. He also cautioned the jail superintendent of the repercussions and announced that a privilege motion would be filed against him.

Imran Khan and Bushra Bibi were acquitted in the Iddat case after Additional District and Sessions Judge (ADSJ) Mohammad Afzal Majoka reversed their previous verdict, which sentenced them to seven years in prison on February 3, five days before the general election.

Imran Khan’s lawyers, Usman Gill and Zaheer Abbas, were in court when the verdict was pronounced.

In the 28-page ruling, Judge Majoka rejected Khawar Fareed Maneka, Bushra Bibi’s ex-husband,’s arguments that Imran Khan and Bushra Bibi’s nikah was illegally performed and that Mr. Maneka was denied Buju (reconciliation rights) under religious law.

The court also rejected the allegation of fornication under provision 496-B of the Pakistan Penal Code (PPC), stating that no charge was filed under this provision against both Imran Khan and his spouse “because there was no evidence of a second witness”. The trial court heard only one witness, Mr Maneka’s domestic servant.

“In these circumstances, it cannot be said that the appellants committed fornication,” the judge wrote. Regarding the charge of contracting marriage fraudulently during the Iddat period, the judge found that in a video given as evidence during the trial, Mr. Maneka lauded his ex-wife, Bushra Bibi, and “deposed that his ex-wife is a pious lady.”

The magistrate inquired about “how this witness [Mr Maneka] can claim that the appellant No. 2 [Bushra Bibi] committed fraud with him” .

The court announced its decision: “From a perusal of Section 496 PPC and the above-mentioned esteemed citations, this court is of the view that the appellants have not gone through any marriage ceremony fraudulently or with dishonest intention because none of the parties claimed that nikah was not performed and fraudulently he or she was supposed to believe that marriage ceremony was solemnised.”

The court judgment added: “In the instant instance, it is the complainant’s case that the appellants’ nikah was done on January 1, 2018, followed by the second nikah in February 2018. By no stretch of the imagination, it was a marriage with dishonest or deceptive intentions.”

Regarding Mr. Maneka’s claim that he was denied reconciliation rights and so deceived by Imran Khan and Ms. Bibi, the court noted that during cross-examination, Mr. Maneka stated that he learned of the appellants’ marriage on the second day of their nikah.

Before submitting the complaint, the judge questioned why Mr Maneka had been silent on his reconciliation rights for six years.

The judge stated, “The complainant has failed to prove his case against the appellants.” As a result, both appeals filed by appellants No. 1 [Imran Khan] and No. 2 [Bushra Bibi] are accepted, the judgment of the learned trial court of February 3, 2024, is overturned, and both appellants are acquitted of the accusation.”

The court ordered their freedom unless they needed to be imprisoned in other cases.

Source: DAWN

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