Immigration Officials Arrest Taiwanese Gang for Operating Stock Manipulation Company, Defrauding People of 23 Billion Baht

[webfact]

 

Immigration authorities have apprehended the leader of a Taiwanese gang involved in operating a fraudulent pharmaceutical company amidst the COVID-19 pandemic. The gang manipulated stock prices and deceived over 10,000 individuals, resulting in damages totaling 23 billion baht. The accused individual was found to have an arrest warrant from Taiwan.

 

During a press conference on May 26, 2023, Pol. Lt. Gen. Pakphoomphiphat Sajjaphan, Immigration Commissioner, along with several other officials, announced the arrest of key suspects involved in the case.

 

The Taiwanese gang leader, identified as Mr. Huang (pseudonym), a 61-year-old Taiwanese national, orchestrated the scheme to deceive people by establishing a pharmaceutical company and manipulating stock prices. The number of victims exceeded 10,000, and the total damages amounted to more than 23 billion baht.

 

Following orders from the Royal Thai Police's Immigration Office, Police Major Sittimon Soi Phu Raya, together with investigators, conducted a thorough investigation and successfully apprehended Mr. Huang.

 

It was discovered that Mr. Huang held a Vanuatu passport and entered Thailand on February 5, 2021, using a THAILAND PRIVILEGE CARD visa.

 

Picture: Thai Rath

 

He was residing in a luxury condominium in the Pratunam area. The investigation also revealed that Mr. Huang was the subject of an arrest warrant issued by the Republic of China (Taiwan). As a result, his temporary permission to stay in Thailand was revoked.

 

During the search, conducted with the presence of Mr. Huang as a witness, authorities discovered 1 million baht in cash, 5 mobile phones, a Singapore ID card, and multiple credit cards. Mr. Huang confessed to fleeing to Singapore before acquiring a Vanuatu passport and escaping to Thailand.

 

The Criminal Investigation Bureau of the Taiwan National Police Agency assisted in the investigation and brought Mr. Huang back to the Royal Thai Police for further legal proceedings.

 

Picture: Thai Rath

 

The gang's modus operandi involved establishing a pharmaceutical company during the COVID-19 pandemic and disseminating false reports to deceive the public into purchasing shares. They manipulated the stock price to reach an exorbitant rate of 500,000 baht per 1,000 shares.

 

After individuals purchased the shares, the gang transferred the funds abroad and subsequently closed the company. As a result, the damages exceeded 10,000 victims and amounted to over 23 billion baht.

 

Further investigations by the Taiwan National Police Agency led to the seizure of an additional 60 million baht from the accused, and warrants were issued for the arrest of 29 more individuals involved in the operation, with 27 of them already in custody.

 

Top Picture: Thai Rath

Thai Rath contributed to this report

 

-- © Copyright  ASEAN NOW 2023-05-26

 

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[ezzra]

For such a person who fooled so many people with such large amount I'd offer him a job at the finance ministry, surly he teaches them a thing or two.

[stoner]

:) many on here spout off about btc being a scam and how stocks are something real and tangible

[mikebell]

1 hour ago, webfact said:

Immigration authorities have apprehended the leader of a Taiwanese gang

 

1 hour ago, webfact said:

The Criminal Investigation Bureau of the Taiwan National Police Agency assisted in the investigation and brought Mr. Huang back to the Royal Thai Police for further legal proceedings.

 

1 hour ago, webfact said:

Further investigations by the Taiwan National Police Agency led to the seizure of an additional 60 million baht from the accused,

So in fact the only thing the Thai authorities did was to arrest the criminal on their turf; all the donkey work was done by the Taiwanese?

[sammieuk1]

Arrest warrant issued by the Republic of China (Taiwan). Must be fake it should read Taiwan nr (China) ???? 

[Thingamabob]

1 hour ago, sammieuk1 said:

Arrest warrant issued by the Republic of China (Taiwan). Must be fake it should read Taiwan nr (China) ???? 

Wrong. An arrest warrant issued by The Republic of China (ROC) on Taiwan is recognized internationally. Likewise, an arrest warrant issued by The Peoples' Republic of China (PRC) on mainland China is also internationally recognized.

[webfact]

Taiwanese man sought over 23 billion baht fraud arrested in Bangkok

 

 

Thai immigration and Taiwanese police have apprehended a Taiwanese businessman, who allegedly cheated more than 10,000 investors in a fake pharmaceutical company, which he and his associates founded during the COVID-19 pandemic in Taiwan, out of an estimated 23 billion baht.

 

The suspect, only identified by Taiwanese police as “Huang”, was taken into custody at a condominium in the Pratunam area of Bangkok during a raid yesterday (Friday). A search of his room uncovered one million baht in cash, five mobile phones, a Singaporean ID card and several credit cards.

 

Thai immigration police said that Huang and his associates set up a pharmaceutical company during the pandemic in Taiwan and then listed the company on the Taiwanese stock exchange. They then set up several shell companies abroad, to engage in the trading of the shares, in order to manipulate the stock price, which skyrocketed to 500 baht per share. Over 10,000 Taiwanese citizens were lured into buying the company’s shares.

 

Full story: https://www.thaipbsworld.com/taiwanese-man-sought-over-23-billion-baht-fraud-arrested-in-bangkok/

 

-- © Copyright Thai PBS 2023-05-26

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information.

[humbug]

These kind articles, last few years, and they are many, all should be taken with a large pinch of salt, a sprinkle of truth, and over exageratted lies

 

The military thru use of psyops usung the media with ISOC(Internal Security Office) the master, and media, police, immigration, government depts the puppets

 

Always in my mind the recent arrests of 2 philipinas, who probably did no more than walk the steets, without passports, in a area full of regional migrant workers, and lots of securiry forces, and published article on their arrest, states how these 2 career criminal were on interpols red notice, what a coup to arrest such infamous criminals, turns out there were no, zero, nada philipinas on the interpol red notice lists anywhere, just blatant lies

 

And what a co-incidence a week after the chinese backed military and their businesses, who hate Taiwan and Move Forward and Taksin, then wow, big surprise arrest a Taiwan criminal mastermind, who is really China, but is Taiwan, who knows, as we all know Taiwan is not China, on an Elite card, printed in capitals, just so everyone knows

 

wow just what are those odds, one week after the elections, talk about sour grapes, last rites, jeez

 

Edited May 27, 2023 by humbug

[cncltd1973]

many Chinese 'businesses' on the NYSE were found to be charlatans of the same sort. from the roadside it all looks correct, but some shortsellers did the legwork and saw there wasn't traffic or workers going in or out, just a security guard who keeps nosy westerners away. if I remember correctly, a total of $1 trillion was invested in these stocks (US$ sent to China) when China was the new, hot investment, now lost forever by those foolhardy for a gamble. the shortsellers made out well, tho

Edited May 27, 2023 by cncltd1973

[AustinRacing]

It’s time for Huang to be hang around prison for a loooooong time. 

[John Drake]

9 hours ago, webfact said:

It was discovered that Mr. Huang held a Vanuatu passport and entered Thailand on February 5, 2021, using a THAILAND PRIVILEGE CARD visa.

Maybe this is something the new government should look at reforming?

[fusion58]

11 hours ago, webfact said:

The Criminal Investigation Bureau of the Taiwan National Police Agency assisted in the investigation and brought Mr. Huang back to the Royal Thai Police for further legal proceedings.

Don't drop the soap!