Actor gets Bt2m bail for alleged role in Bt800m Bitcoin scam

[rooster59]

Actor gets Bt2m bail for alleged role in Bt800m Bitcoin scam

By The Nation Weekend

 

 

The Criminal Court has approved Bt2 million bail for the temporary release of actor Jiratpisit Jaravijit, who is allegedly involved in a Bt800 million Bitcoin scam, as police are set to seek court approval on arrest warrants for more suspects.

 

Meanwhile, the Anti-Money Laundering Office (Amlo) has frozen the bank accounts of 51 suspects in the multi-million-baht digital currency fraud. 

 

In addition, Amlo seized title deeds for 15 tracts of land worth a combined Bt176 million as they were allegedly acquired using ill-gotten gains.

 

According to investigators, Jiratpisit, his brother, and other suspects were allegedly involved in cheating a Finnish person out of Bitcoins worth nearly Bt800 million. 

 

The digital units were later transferred into the electronic wallets of seven persons who then converted the units into Thai baht deposited in several bank accounts.

 

Jiratpisit’s elder brother, Parinya, who is still a fugitive, has a bank account worth Bt111.9 million, while his elder sister, Supitcha, has a bank account worth Bt140.1 million. 

 

Other bank accounts belong to Jiratpisit (Bt21.6 million), a person codenamed Tor (Bt146.3 million), a person codenamed Chor (Bt162.9 million), a person codenamed Chat (Bt96.1 million), and a person codenamed Por (Bt66.5 million).

 

Altogether, Bt745.7 million was transferred into multiple bank accounts while the plaintiff told police a total amount of Bt797.4 million was stolen.

 

Jiratpisit told investigators he was innocent and that his bank account was used by his fugitive elder brother.

 

Pol Colonel Charkit Sawasdee, deputy chief of Crime Suppression Bureau, said Supitcha has contacted police and wanted to talk to investigators.

 

Prasit Srisuwan, one of the suspects, also reported to police yesterday and denied any wrongdoing.

 

Parinya was found to have opened several companies in Thailand and Hong Kong in connection with the case. Finnish Bitcoin owner Aarni Otava Saarimaa was lured into transferring Bitcoins worth almost Bt800 million to Thai suspects for further investment in Thai and other securities as well as for use in Macau casinos.

 

Meanwhile, the Securities and Exchange Commission (SEC) said in a statement that all investors should exercise caution while considering investing in digital assets, while publishing the list of firms which may act as brokers if they apply for licences by August 14.

 

SEC secretary-general Rapee Sujaritkul said there have been investment scams involving digital assets and resulting in significant damages. An executive decree on digital asset regulations is now in force requiring brokers to be properly licensed to minimise investors’ risks.

 

The SEC said no issuer of ICOs, or Initial Coin Offerings, or ICO portals in Thailand have been licensed so far. 

 

If investors are persuaded by brokers, trading centres or any person to invest in digital assets, they should exercise caution and cross-check the list of licensees on the SEC website.

 

The SEC is also working with other authorities on the ongoing investigation into the alleged Bitcoin scam and will file charges if anyone has violated the SEC law.

 

Due to the growing popularity of Bitcoins and other digital currencies, there have been reports of unscrupulous networks luring innocent investors into scams. However, authorities do not want to completely ban all crypto-currencies because the new technology has a wide range of useful applications needed to drive the digital economy.

 

Source: http://www.nationmultimedia.com/detail/Economy/30351918

 

 

-- © Copyright The Nation 2018-08-11

[RotMahKid]

and off he goes and for sure will enjoy some of the millions somewhere abroad.

[sammieuk1]

Next weeks headline fleeing 800 mil bitcoin scammer on slightly red Interpol notice ?

[z42]

With the sheer amounts of money being talked about here, and the plaintiff being stuck in Finland, and the bank accounts with no names attached with multiple millions of usd in, my guess is that this bloke they just bailed has already bolted to an ill gotten life of luxury abroad. Scandalous.

 

Also a scary amount of intellect demonstrated by the Finnish guy, obviously should know that holding bitcoins is the way to go, and that Thais are hardly bastions of prudent investment advice. A whole lot of facepalming going on right now that's for sure

[GaryAdriaenssens]

He should contact the Red Bull org. how to escape the country and never ever getting prosecuted. Must be easy!!

[PatOngo]

9 minutes ago, z42 said:

With the sheer amounts of money being talked about here, and the plaintiff being stuck in Finland, and the bank accounts with no names attached with multiple millions of usd in, my guess is that this bloke they just bailed has already bolted to an ill gotten life of luxury abroad. Scandalous.

 

Also a scary amount of intellect demonstrated by the Finnish guy, obviously should know that holding bitcoins is the way to go, and that Thais are hardly bastions of prudent investment advice. A whole lot of facepalming going on right now that's for sure

I don't think he'll bolt, he's still young and would miss mummy too much if he had to leave!

[brianp0803]

The people I know buying Bitcoin are trying to hide money from the government.  I don’t think most people are reporting any profit and paying taxes from Bitcoin transactions.

[Development at Khaoyai]

He probably is banking on leniency here, so will stick it out!

[thaistocks]

The local and international community will follow this case closely, if it just drags on and goes nowhere, it will very seriously further dent the justice/reputational case around Thailand.  Too many white color crimes here and far too little real jail sentences.

[rodney earl]

Welcome to the land of scams.!!

[thaistocks]

Scams happen everywhere! The big question is do they put these to jail!  Large investors considering a country these days increasingly look at how many went to jail for insider trading or other scum white color crimes, if the answer is few...they turn the page in discust.

Edited August 11, 2018 by thaistocks
typo

[grumbleweed]

Anything monks can do, I can better

 

[rodney earl]

Yes. But some governments call this place the land of scams. I will now turn the page in disgust.!!

[Naroge]

38 minutes ago, z42 said:

With the sheer amounts of money being talked about here, and the plaintiff being stuck in Finland, and the bank accounts with no names attached with multiple millions of usd in, my guess is that this bloke they just bailed has already bolted to an ill gotten life of luxury abroad. Scandalous.

 

Also a scary amount of intellect demonstrated by the Finnish guy, obviously should know that holding bitcoins is the way to go, and that Thais are hardly bastions of prudent investment advice. A whole lot of facepalming going on right now that's for sure

Well, as most bank accounts apparently are frozen, he cannot access them. Not so much to enjoy. Yet.

[upu2]

Is the system so incompetent that a guy who is a flight risk is given bail? Where is the logic in that?

[suzannegoh]

14 minutes ago, upu2 said:

Is the system so incompetent that a guy who is a flight risk is given bail? Where is the logic in that?

I doubt that it's incompetent, more likely that he has far more than 2M baht needed for bail remaining from the swindled amount and is sharing it.

[inThailand]

2M THB? That is his pocket money. Was it paid from stolen money and did they take his check? I hope I get this judge if ever needed. 

[Horace]

Why are these sorts of scams so successful here in Thailand?  Let's look at the supply slide.

 

People pay large sums of money to fortune tellers for advice on their future.   And I am not just talking about the average Joe (Somchai?), but also highly placed politicians, business leaders, university professors and even medical doctors.  They'll pay vast sums for job promotions, business success, an advantage over a romantic rival - anything.  And the news media will report on this as if there is nothing unusual about any of it. Just speculating and certainly not suggesting anything?, but do you think there just might be a connection (a) this sort of superstitious nonsense and (b) Thailand's role as a major supply source of suckers for scams? 

[Horace]

1 hour ago, thaistocks said:

Scams happen everywhere! The big question is do they put these to jail!  Large investors considering a country these days increasingly look at how many went to jail for insider trading or other scum white color crimes, if the answer is few...they turn the page in discust.

True.  High risk countries, such as Thailand, require a higher return to justify an investment.  A bad score on the corruption indices deters investment.  https://www.imf.org/external/pubs/ft/issues12/index.htm

[mikeymike100]

Did they confiscate his passport???

[Media1]

Corruption is at its absolute peak since the regime partners stepped into this privately owned company lol

 

[Media1]

24 minutes ago, Horace said:

True.  High risk countries, such as Thailand, require a higher return to justify an investment.  A bad score on the corruption indices deters investment.  https://www.imf.org/external/pubs/ft/issues12/index.htm

You need brain scans to invest here

[Media1]

1 minute ago, mikeymike100 said:

Did they confiscate his passport???

Don't be silly pleaae his going on holidays 

[FitnessHealthTravel]

We are going to hear much more of this digital currency scamming, this is just the beginning.

[Petchou]

never understood why they bail people but never remove their passports to make sure they don't fly out of the country.

[thaistocks]

29 minutes ago, Horace said:

True.  High risk countries, such as Thailand, require a higher return to justify an investment.  A bad score on the corruption indices deters investment.  https://www.imf.org/external/pubs/ft/issues12/index.htm

There are different kinds of risks. Regulatory risk, business risk, political risk, currency risk...but if you add lack of lack of court justice, i.e. unpunished rogue dealings risk with no remedies, it quickly sinks to abyss.

[The Deerhunter]

2 hours ago, GaryAdriaenssens said:

He should contact the Red Bull org. how to escape the country and never ever getting prosecuted. Must be easy!!

With that amount of money he will use the same lawyers as Boss does, Messrs. "Dollar & Euro & Pound," barristers and solicitors. I think they are based in Bangkok.

[nodomino]

Methinks this is a case that will take At Least 40 years to prosecute. Lots of loose bahts still hovering about......

[The Deerhunter]

1 hour ago, Horace said:

Why are these sorts of scams so successful here in Thailand?  Let's look at the supply slide.

 

People pay large sums of money to fortune tellers for advice on their future.   And I am not just talking about the average Joe (Somchai?), but also highly placed politicians, business leaders, university professors and even medical doctors.  They'll pay vast sums for job promotions, business success, an advantage over a romantic rival - anything.  And the news media will report on this as if there is nothing unusual about any of it. Just speculating and certainly not suggesting anything?, but do you think there just might be a connection (a) this sort of superstitious nonsense and (b) Thailand's role as a major supply source of suckers for scams? 

It seems the victim was Finnish, not Thai and may not have been (perhaps never been) in Thailand.  But he presumably was a gambler!!!!    "Finnish Bitcoin owner Aarni Otava Saarimaa was lured into transferring Bitcoins worth almost Bt800 million to Thai suspects for further investment in Thai and other securities as well as for use in Macau casinos."   What is it thay say about a fool and his money?  I wonder where Aarni got that sort of loot honestly, with Finland's tax rates?  That is a lot of money for anyone to splash around so carelessly.   Is it possible that a "scammer was scammed?"

Edited August 11, 2018 by The Deerhunter

[Jimbo in Thailand]

"A fool and his money Bitcoins are soon parted."

 

Obviously some things in life never ever change, only the type of currency involved.  Had this not happened in Thailand it certainly would have somewhere as the Finnish 'victim' is obviously a complete <deleted> dumba$$.  ?

 

Hmmm... considering the large amount of money involved I doubt this was from the Nordic chump's life savings.  Instead, seems this $$$ might be courtesy of some ill-gotten gains, no?