Five Arrested Over Alleged Scam and Gold-Laundering Network

Five Arrested Over Alleged Scam and Gold-Laundering Network

Thai cyber police arrested five suspects linked to an alleged Vietnamese-led network accused of defrauding 18 victims of more than 12 million baht. Officers seized 14 gold bars valued at over 1.7 million baht as two Vietnamese suspects were reportedly preparing to sell them at a gold shop. The investigation began after a 61-year-old man lost nearly 1.8 million baht to callers posing as electricity authority employees who persuaded him to reveal one-time password codes. Police said stolen funds were transferred through several bank accounts, used to purchase gold and later converted back into cash. Warrants were issued for seven Vietnamese and Thai suspects in total, with five arrested and two still being sought.