Russian Phuket expat hunted as mastermind of B100mn crypto fraud

By The Phuket News

 

Gen Sarachate (centre) said his team had already found ’five to six’ other online trading schemes operating the same way. Photo: Tourist Police

 

PHUKET:-- A Russian expat living in Phuket is believed to be the mastermind behind the online foreign-currency exchange (‘Forex’) trading scam operated through the SiamOption.com website that has lured 1.4 million people to invest hundreds of millions of baht.

 

The news was revealed by Tourist Police Deputy Commander Maj Gen Surachate Hakparn yesterday (Aug 15) in announcing the arrest of 19 suspects involved in the scam in co-ordinated raids in Bangkok, Khon Kaen and Phuket.

 

Nine of the suspects were arrested in raids at six locations in Phuket, with the main raid at the office of Helix Thai Beach Co Ltd (Phuket) at 26/164 Chao Fa Rd East, Chalong.

 

Full Story: https://www.thephuketnews.com/russian-phuket-expat-hunted-as-mastermind-of-b100mn-crypto-fraud-68269.php#JsdIp4PivTwWK4hA.97

 

-- © Copyright Phuket News 2018-8-16

1 hour ago, snoop1130 said:

Gen Sarachate (centre) said his team had already found ’five to six’ other online trading schemes operating the same way. Photo: Tourist Police

 

PHUKET:-- A Russian expat living in Phuket is believed to be the mastermind behind the online foreign-currency exchange (‘Forex’) trading scam operated through the SiamOption.com website that has lured 1.4 million people to invest hundreds of millions of baht.

 

The news was revealed by Tourist Police Deputy Commander Maj Gen Surachate Hakparn yesterday (Aug 15) in announcing the arrest of 19 suspects involved in the scam in co-ordinated raids in Bangkok, Khon Kaen and Phuket.

 

Nine of the suspects were arrested in raids at six locations in Phuket, with the main raid at the office of Helix Thai Beach Co Ltd (Phuket) at 26/164 Chao Fa Rd East, Chalong.

Sometimes it´s Surachat Hakpan. In this article it´s Sarachete och Surachate Hakparn??? We all know that this man work as if he would be more than 3 persons, but I bet on that he only goes by one name. Oouch, sorry! Betting was illegal, right?

I think that everything just comes down to one Big Joke.

when reading about it this morning i thought that it seemed like something a foreigner must have set up, not because the thais wouldn't have the know how, just because a thai would never do such a thing.

The first scam starts with the inflated rate of the THB.....1 US$ should yield nothing less then 40 THB at least !!

Well if he didn't know they were onto him, he does now.

So, '1.4 million people were defrauded of hundreds of million baht'... That is how much, 300 baht or 9 bucks in real money for each 'investor'? - Yawn! ?

9 hours ago, observer90210 said:

The first scam starts with the inflated rate of the THB.....1 US$ should yield nothing less then 40 THB at least !!

Based on what?

10 hours ago, observer90210 said:

The first scam starts with the inflated rate of the THB.....1 US$ should yield nothing less then 40 THB at least !!

And why is that?