The cyber police have dismantled a criminal network that deceived Thai retirees into investing online, resulting in losses exceeding 200 million baht.
They arrested 30 suspects, including key figures who acted as admins, recruiters and mule account providers within the network. The suspects have implicated Chinese investors as the masterminds behind the scheme.
Pol. Lt. Gen. Worawat Watnakornbancha, Commissioner of the Technology Crime Suppression Division held a press conference on the “Day Hunter” operation, involving raids on six locations in Bangkok, targeting a network that posed as Thai celebrities to deceive retirees into investing in Thai stock trading businesses.
Over 40 retirees reported through the online complaint system that they were scammed into investing through applications named Penfold and IBTM, with total damages exceeding 200 million baht.
The perpetrators created fake Facebook accounts impersonating well-known investment figures and infiltrated legitimate Facebook investment groups. They identified potential targets, primarily retired government officials, and lured them into investing through fraudulent apps. The scammers repeatedly asked for transfers to participate in investments but provided excuses to prevent withdrawals, ultimately leaving the victims unable to retrieve their money.
Pol. Lt. Gen. Worawat revealed that after receiving complaints, he ordered an immediate investigation by Technology Crime Suppression Division 3.
The police identified six targets in Bangkok and planned the raids, resulting in the arrest of 30 suspects. Among them were key figures, who were closely associated with senior Chinese members of the organization. They were responsible for recruiting mule account holders and employees through Facebook job postings.
The authorities seized 14 computers, 6 phones, job application documents, bank books, financial documents, pre-prepared scripts for deceiving targets, and other related evidence,
Initial interrogations revealed the involvement of two Chinese suspects directing operations from a neighboring country. The police are actively investigating and pursuing these individuals to bring them to justice in Thailand.
The police said that this type of fraud is known as a hybrid scam, which builds credibility through online media and uses simulated programs to deceive victims into transferring money. Currently, there have been reports of 60,000 victims with losses amounting to 22 billion baht. The cyber police are working to eradicate this network.
All suspects have been detained and handed over to investigators on charges of public fraud, organized crime, computer-related fraud, money laundering, and conspiracy to launder money. (TNA)
