Mob Beats Couple And Torches Home After Alleged Online Scam

After investors couldn’t cash in shares they accused the couple of swindling them.

By Network Media Group

Thursday, May 23, 2019

A couple was beaten and their house attacked on May 22 by an angry mob that torched it after looting some of its belongings in Mon State. Their relatives’ homes were also attacked by the mob.

Ko Oo and Mi Khaing Yin Mon from Lamai, in Ye township, were sent to the hospital for treatment.

Locals allege the couple took advantage of them in an online saving and buying scheme that involved purchasing shares in the company. When hundreds couldn’t cash in their shares they accused the couple of swindling them.

The confrontation at their home happened after they allegedly cheated the majority of the residents of Lamai town that all invested in the scheme, which also provided loans, locals say.

Ko Mon Htaw, who is a shareholder, told NMG the couple was selling shares for a year without any problems. After the trouble started he said they didn’t try to run away.

Many others in townships across Mon State also bought into the scheme, even attracting investors from as far away as the migrant community in Thailand.

Ma Shwe Khaing said she lost MMK 5 million kyats (about US $3,255) after investing in a share she couldn’t withdraw.

At press time, police in Ye township hadn’t opened case against the couple.

Police couldn’t confirm how much money is at stake.

“We are trying to solve this problem. I can’t tell you any details,” said Khin Nyo, a police major in Lamai.