Crime German Man Held Over $1.1M Crypto Scam

[Georgealbert]

 

Pictures courtesy of Khaosod - arrested suspect Alex.

 

A retired Australian police officer has praised Thai police after they arrested a German national accused of swindling him and his Thai wife out of more than $1.1 million in a cryptocurrency scam.

 

Michael 65, expressed his gratitude at Udon Thani City Police Station on 2 August, thanking officers in Thai and presenting flowers to Police Lieutenant Colonel Pattanawong Janphon. “I’m very happy. The police are excellent,” he said.

Picture of the victims.

 

Michael and his 50-year-old wife, Areerut, filed a complaint on 17 July, alleging that the suspect, identified only as 38-year-old “Alex” from Germany, had defrauded them using a fake online trading platform that mimicked a legitimate cryptocurrency investment site.

 

The couple met Alex via social media over a year ago and later travelled to Phuket to meet him in person. Convinced by the professional appearance of the website and the promise of high returns, they invested heavily in the scheme.

Screenshot of the alleged website.

 

But when they attempted to withdraw funds and then lost contact with Alex, they realised they had been conned. The total loss included a significant portion of Michael’s police pension.

 

Police investigators traced the money trail and located the suspect, who had fled his Phuket residence. He was arrested by Immigration Police Division 6 at a fitness club in southern Thailand after failing to respond to a summons. An arrest warrant had been issued on 23 July.

 

Alex now faces charges of computer fraud and public deception. He denies the allegations, claiming his mobile phone was stolen and that he, too, was a victim.

 

Thai authorities are urging others who may have been defrauded by Alex to contact their local police or Udon Thani City Police on 042-221077.

 

  Adapted by Asean Now from Khoasod 2025-08-03

 

 

 

[gargamon]

I really, really, need to start investing in the crypto stuff. Scams everywhere. Home break-ins with torturing till you cough it up. Etc. Etc.

 

Is that Alex in the pic? Or the victim? Why so happy?

[save the frogs]

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

[PJ71]

1 hour ago, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

Does that make the scam ok?

[save the frogs]

11 hours ago, PJ71 said:

Does that make the scam ok?

 

No, but when you have too much money you don't know what to do with, there's more likelihood of some unscrupulous people picking your pockets. 

 

For one thing, ultra rich people often outsource to other people to manage their money because it's a full-time job to invest 10s of millions of dollars ... and then can you trust these people? 

 

[PJ71]

Just now, save the frogs said:

 

No, but when you have too much money you don't know what to do with, there's more likelihood of some unscrupulous people picking your pockets. 

 

For one thing, ultra rich people often outsource to other people to manage their money because it's a full-time job to invest 10s of millions of dollars ... and then can you trust these people? 

 

How do you know the wealth of this man, was it mentioned in the article?

 

It's not impossible for that amount to be his life savings, or a good chunk of it?