Raid arrests suspects in 2.7 billion baht cryptocurrency fraud.
Four Chinese nationals and one Lao citizen have been arrested in a massive cross-border operation for their alleged involvement in a multi-million dollar cryptocurrency scam that caused more than 2.7 billion baht ($76 million) in damages and losses, according to the Cyber Crime Bureau of Investigation (CCIB).
According to the Bangkok Post, the fraud scheme ensnared at least 3,280 victims through a deceptive cryptocurrency investment platform called BCH Global Ltd.
Victims began reporting to police in November last year that they had been tricked into investing their money in gold and the cryptocurrency USDT. Further investigation by CCIB revealed that many of the individuals running the fraudulent platform were linked to other similar scams. Their arrests were made possible through global collaboration between Homeland Security Investigations and other international law enforcement agencies.
The five suspects were charged with public fraud, conspiracy to commit transnational crime, money laundering and entering false information into a computer system, marking a major step forward in the transnational crime case.
The Attorney General's Office began prosecuting the suspects on August 10, and Anti-Money Laundering Office officials confiscated 585 million baht worth of property from the suspects on September 4, the Bangkok Post reported.
CCIB spokesperson Kissana Phathanacharoen stressed to the Bangkok Post that the bureau will continue to contact victims to ensure they understand their rights under the law. Victims can file complaints through the CCIB hotline or www.thaipoliceonline.com.
In a wider context, Phathanacharoen ranks investment scams as the most damaging scams reported to police. Many times, victims, many of whom have invested their life savings or taken out second mortgages on their properties, are lured into these schemes by strangers promising high, guaranteed returns in a short period of time.
To combat this growing threat, CCIB advises the public to remain vigilant, especially when dealing with online platforms and foreign mobile applications that attract investment. They further recommend checking the registration number of investment companies and verifying the authenticity of investment websites through www.checkdomain.thaiware.com. #TETHER #泰国
