Phichit Community Fund Crisis: 55 Million Baht in Damages

Matichon•Society•1d ago

Reader Briefing

A community fund in Phichit Province is unable to repay over 1,430 members after luring them with high dividends, leaving the institution with only about ten thousand baht.

•The Ban Huay Hang Community Fund Management Institution in Wachirabarami District failed to return deposits to over 1,430 members.
•Initial complaints from 331 members report total damages exceeding 55 million baht.
•Kitipon Wechakul, Deputy Governor of Phichit, found the institution's account balance has only ten thousand-plus baht remaining.
•Provincial authorities have established a special task force to gather evidence and take legal action.

Overview

•The Ban Huay Hang Community Fund Management Institution attracted members by offering annual dividend returns of 5-6 percent.
•Some members deposited up to 5 million baht, including life savings and retirement funds, which they are now unable to withdraw.
•As of July 20, 331 members have signed complaints totaling over 55 million baht in requested withdrawals.
•Kitipon Wechakul and officials from the Phichit Provincial Justice Office and Damrongdhama Center held a complaint reception at Nong Lum Subdistrict Administrative Organization meeting hall on July 20.
•Kitipon Wechakul reported that the institution's current account balance is only ten thousand-plus baht.
•Officials will continue accepting complaints from the 1,430 members until Friday, July 24.
•Phichit Province has appointed a special task force to investigate, collect evidence for legal proceedings, and assist the affected citizens.

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Source: Matichon (Original)

Key Entities

Person

Kitipon Wechakul(กิติพล เวชกุล)

Deputy Governor of Phichit Province who is overseeing the investigation into the community fund crisis.

Sommai(สมหมาย)

A representative of the villagers affected by the financial institution.

Organization

Ban Huay Hang Community Fund Management Institution(สถาบันจัดการเงินกองทุนชุมชนบ้านห้วยห้าง)

A financial institution in Wachirabarami District that failed to repay deposits to its members.

Phichit Provincial Justice Office(สำนักงานยุติธรรมจังหวัดพิจิตร)

The provincial agency that joined the complaint reception for affected villagers.

Phichit Provincial Damrongdhama Center(ศูนย์ดำรงธรรมจังหวัดพิจิตร)

The provincial agency that assisted in receiving complaints from the affected villagers.

Nong Lum Subdistrict Administrative Organization(องค์การบริหารส่วนตำบลหนองหลุม)

The organization whose meeting hall served as the site for the complaint reception.

Place

Phichit(พิจิตร)ℹ️

The province where the financial crisis occurred.

Wachirabarami District(อำเภอวชิรบารมี)ℹ️

The district where the Ban Huay Hang Community Fund Management Institution is located.