Bangkok: Cyber police have arrested a Chinese man and a Thai woman, who were living a life of luxury, for their involvement in a money laundering operation connected to a cryptocurrency investment scam. The pair is implicated in 28 other cases, resulting in damages exceeding 30 million baht.
According to Thai News Agency, Pol. Lt. Gen. Trirong Phiwpaen, Commander of the Technology Crime Investigation Division, announced the launch of Operation Exit Scam to dismantle the cryptocurrency investment scam. Victims were lured into investing in digital currency through deceitful promises of high returns on the platform https://neccorpo.site/. Initially, victims could withdraw profits, which instilled trust and led them to invest more. Eventually, they were unable to withdraw their funds, resulting in losses exceeding 2 million baht for individual victims.
The investigation allowed police to secure arrest warrants for a 34-year-old Chinese man and a 21-year-old Thai woman, the primary suspects. The platform has reportedly affected 28 other victims with total losses surpassing 30 million baht. The suspects had a romantic relationship, with the woman managing a crypto account for the Chinese man. Despite an unsuccessful shoe business, they led an opulent lifestyle, driving luxury cars and collecting high-end items, believed to be financed through the scam.
Raids across five locations in Bangkok and Samut Sakhon Province led to the seizure of evidence, including luxury cars, branded goods, and 30 Bearbrick dolls, with a total value exceeding 20 million baht. The police pressed charges related to fraud, money laundering, and involvement in a transnational crime organization. The suspects, along with the evidence, were handed over to investigators for prosecution.
Further investigation of the suspects' mobile phones revealed over 5,000 money transfer slips in less than a year, with amounts ranging from 100,000 to 500,000 baht. This discovery suggests the network may have an annual turnover in the tens of billions of baht. The police are continuing their investigation to dismantle the criminal network and bring all involved to justice.