Thai Police Bust Massive Multi-Billion Baht Fraud Ring

[webfact]

Picture courtesy: Thai Rath

 

In a major victory against international online fraud, Thai police have dismantled a sophisticated scam operation run by a Thai-Chinese gang that defrauded victims of billions of baht. The Central Investigation Bureau (CIB) announced the arrests of ten suspects across Bangkok and other provinces. This culminated after extensive raids and investigations that began last week and concluded on Monday.

 

The operation’s scope is vast, with six Thai citizens—four women and two men—and four men from China now in custody. The arrested individuals, identified only by their first names, face serious charges, including public fraud, computer crime, money laundering, and illegal assembly. They formed part of a larger network of 32 suspects, including Thai mule account holders and alleged Chinese and Korean masterminds suspected of laundering money.

 

This sophisticated scam began by enticing victims via social media platforms with the simple task of clicking “likes” online to earn money. Once the bait was taken, victims were then convinced to invest, lured by the promise of lucrative returns between 30-50%.

 

Initially, these returns were realized, engendering trust, but payments soon ceased and victims were left in suspense. The web of deceit began unraveling last February when a victim lodged a formal complaint, triggering the investigative process.

 

Technological Crime Suppression Division commander Pol Maj Gen Athip Pongsiwapai disclosed that half of the arrested were allegedly laundering money, while others managed mule accounts. Authorities seized assets worth approximately 14 million baht, encompassing land deeds and high-end luxury items.

Among the arrested, Ms Atchara, along with the four Chinese nationals, denied the fraud charges. However, they conceded to converting cryptocurrency into cash for illicit Chinese operations.

 

Ms Atchara reportedly admitted her involvement in money laundering since 2023, during which she facilitated the exchange of tether cryptocurrency worth 6.5 billion baht. A staggering 2.9 billion baht had already been converted and expended on property acquisitions through front companies set up by Thai proxies.

 

In a related development, the Thai police also nabbed three additional Chinese nationals tied to Luckking Co, accused of orchestrating fake lucky draws. Operating out of the Sermsub Building in Bangkok, their scheme deceitfully harvested personal data from an estimated 88,000 individuals and sold it to other scam operations. The duo, Ye Wanyou and Li Weijie, were arrested in Bangkok, linked to a call centre scam in Cambodia, smuggling people through Thailand’s Mae Sot district.

 

This sweeping crackdown underscores the global reach of online fraud and the importance of international cooperation in combating such criminal enterprises, offering a glimpse into the complex operations of modern-day cybercriminals and the relentless pursuit of justice by law enforcement, reported Bangkok Post.

 

-- 2025-02-19

 

 

[Jim Blue]

No big shots then , just the small fry ..oh well sounds familiar 

[steven100]

good job,  shoot the bar_stards ....   thiefs are the lowest of the low. 

[MikeandDow]

All TAT Quality tourists

[drgoon]

Ahhh  there best friends...   Chinaaaaaaa 

[realfunster]

The Thai authorities appear to have dragged their heels on Chinese criminal gangs.

 

There were numerous reports during COVID times of undesirables settling in, away from Chinese COVID restrictions.

 

Here we are several years later and it's apparent that the undesirables either haven't left or have spread the word that Thailand is a comfortable base for criminal operations.

 

It's going to take a long and concerted effort to get this under control. Wouldn't be surprised to see more Chinese authorities getting involved, bit like the Chinese Minister who recently marched into the Burmese border town with the scam operations. 

[DrJack54]

Offensive post along with reply removed