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Chinese Man Arrested For 6-Million-Baht Investment Scam

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Picture courtesy of Daily News

 

Police have arrested a Chinese national accused of masterminding a investment fraud that caused losses of more than six million baht. The suspect allegedly hired a Thai woman to recruit “mule” account holders to launder money from victims deceived through a fake stock trading scheme.

 

On 28 October, Pol Col Pramote Chanboonkaew and investigators from Phetkasem Police Station detained Mr Ming Chao Yuan, a Chinese citizen wanted under a Thonburi Criminal Court warrant for public fraud and computer crime offences. He was apprehended at a rented house in Ban Du subdistrict, Mueang district, Chiang Rai province.

 

The arrest followed a complaint lodged on 24 April by a victim who told police she had been persuaded through an online investment application to join what appeared to be a legitimate stock trading firm. At first, the returns seemed genuine, but after 12 transfers totalling 6,385,000 baht, contact with the company abruptly ended. The woman then reported the loss to Phetkasem Police Station.

 

Investigators later discovered that the funds had been transferred into eight accounts belonging to individuals and companies. On 15 October, police executed a search warrant at a room in Popular Condo, Muang Thong Thani, Nonthaburi, and arrested Ms Arporn, who was found with several mule bank books, cash cheques, and documents encouraging others to open new accounts. Her accounts reportedly showed transactions exceeding one billion baht.

 

During questioning, Ms Arporn confessed that she had been hired by Mr Ming to obtain mule accounts for use under company names to receive investment transfers from victims. She said she was paid 1.5% of each transaction and that after collecting cash from the mules, she handed it to Mr Ming. He allegedly transported the money to the Golden Triangle before smuggling it back to China, later re-entering Thailand illegally via Myanmar and staying in Chiang Rai, where he could move undetected.

 

Mr Ming denied all allegations, claiming he was only visiting Thailand as a tourist. However, financial tracing linked him to the broader fraud network. Authorities believe he led the operation and that more victims may still come forward.

 

He has been handed over to investigators at Phetkasem Police Station for further legal action, while police continue to track down other account holders and associates involved in the scam.

 

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Key Takeaways

 

• Police arrested a Chinese suspect accused of leading a 6-million-baht online trading scam.

• A Thai woman admitted to recruiting mule account holders for 1.5% commissions.

• Authorities are pursuing additional suspects and victims linked to the network.

 

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Bangkok-police-arrest-three-Chinese-men-in-re-victimisation-scam

 

image.png  Adapted  by  Asean  Now from Dailynews 2025-10-29

 

 

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