BANGKOK, Thailand – The Cyber Police have arrested a Chinese man and a Thai woman who were living a luxurious lifestyle while being involved in a money laundering scheme linked to a cryptocurrency investment scam. The duo has been connected to 28 cases, with total damages exceeding 30 million baht.
Pol. Lt. Gen. Trairong Phiewpan, Commissioner of the Cyber Crime Investigation Bureau, announced the “Exit Scam” operation, which targeted a fraudulent crypto investment ring responsible for scamming victims out of over 30 million baht.
The investigation began after multiple victims filed online complaints, reporting that they had been deceived into investing in digital currency. The suspects lured victims in by establishing trust before convincing them to invest through the platform https://neccorpo.site/, which falsely promised high returns. Initially, investors could withdraw small profits, such as earning 10,000 baht on an investment of several hundred thousand baht, leading them to believe the platform was legitimate. However, as they invested more, the platform displayed fake profit figures while preventing withdrawals, ultimately leading one victim to lose over 2 million baht.
Following an in-depth investigation, police obtained search and arrest warrants for the main suspects—a 34-year-old Chinese man and a 21-year-old Thai woman. Authorities discovered that the fraudulent platform had victimized at least 28 individuals, resulting in financial damages of over 30 million baht.
The suspects were romantically involved. The Thai woman, who worked as a vendor in the Pratunam area, had a secret relationship with the Chinese man, who was already married with a family. She opened a cryptocurrency account for him, and the two later established a shoe store in Yaowarat (Chinatown). Although the business struggled, they continued to live extravagantly, driving luxury cars, using designer goods, and collecting over 30 Bearbrick figurines. The Chinese suspect had been traveling in and out of Thailand for three to four years, with frequent visits to neighboring countries, leading authorities to suspect links to call center scams and illicit earnings from fraud victims.
During raids at five locations in Bangkok and Samut Sakhon, police seized multiple assets, including 30 Bearbrick figurines, 11 mobile phones, a BMW X1, a Toyota Alphard, a condominium title deed, designer clothing, and luxury accessories. The total value of seized assets exceeded 20 million baht.
The suspects face multiple charges, including public fraud by impersonation, computer crimes related to false information, and conspiracy to commit money laundering,
participation in a transnational criminal organization.
Authorities also uncovered crucial evidence on the suspects’ mobile phones, including over 5,000 money transfer records within a year, with individual transactions ranging from 100,000 to 500,000 baht. Investigators believe the scheme may have involved billions of baht in annual transactions. The police are continuing their investigation to identify and apprehend additional members of the criminal network. (TNA)
