Crypto Scam Busted: Thai and Chinese Duo Caught Laundering $900k

[snoop1130]

Picture courtesy of KhaoSod

 

In a major bust, cyber police arrested a 34-year-old Chinese man, Zhao, and his 21-year-old Thai partner, Naritsara, for their role in a cryptocurrency investment scam racking up losses over 30 million baht ($897,640). The operation may have processed transactions totaling 10 billion baht ($299,213) annually.

 

The criminals lured victims via social media using enticing profiles and promises of high returns on the website neccorpo.site. Initially showing profits, withdrawals soon failed, exceeding individual losses of 2 million baht ($59,832).

 

The duo, romantically involved, led luxurious lives, using deception in 28 known fraud cases, operating a failing shoe store in Yaowarat, and living extravagantly with luxury cars and rare collectibles.

 

On February 22, police raided five locations across Bangkok and Samut Sakhon, seizing 20 million baht ($598,372) in assets, including luxury cars and Bearbrick dolls. Officers also discovered the suspects' phones filled with 5,000 transaction slips in a year, spanning between 100,000 to 500,000 baht ($2,990 to $14,960).

 

 

Police suspect connections to broader criminal networks, with Zhao having traveled frequently between Thailand, China, and Cambodia. Both suspects deny all charges of conspiracy, fraud, and money laundering.

 

Authorities warn against investing in uncertified platforms and falling for online schemes that might form part of a wider scam. They emphasize investment through regulated channels like the Securities and Exchange Commission.

 

Despite recent successes in combating call center scams, cases of technology-related fraud are climbing. In response, police continue to push crackdowns on fraudulent online activities, aiming to protect potential victims, reported The Thaiger.

 

-- 2025-02-24

 

 

[Jim Blue]

Bear brick dolls ??