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Chinese crypto fraud suspects held

Chinese crypto fraud suspects held

Police raids on 25 locations in Bangkok resulted in the seizure of several valuables, including cash and high-end vehicles, and the arrest of three Chinese nationals in connection with bitcoin fraud.

According to Pol Lt Gen Worawat Watnakhonbancha, head of the Cyber Crime Investigation Bureau (CCIB), two of the raids resulted in arrests.

In the first, two rooms at a posh hotel in the Rama IX neighborhood were searched, leading to the arrest of a Chinese couple, Zhang Han Lin, 54, and his wife Zhou Lu, 29.

More than 4 million Baht in cash, ownership papers for three luxury condo units worth 44 million Baht, three high-end vehicles (a Porsche Cayenne, a Mercedes-Benz, and a Mini Cooper), iPads, numerous designer bags, more than 100 sacks, Chinese, Cambodian, and Vanuatu passports were all taken from them.

Photo/Wassayos Ngamkham)

A Chinese woman named Liu Jiayu was detained during a raid at Sukhumvit Soi 101 in the Phra Khanong neighborhood, and numerous documents were taken from her.
In an earlier operation to target bitcoin scammers, Pol Lt Gen Worawat claimed a Chinese man and woman were arrested in the Bangkok neighborhood of Srinakarin. On May 26, the Criminal Court issued arrest warrants for the couple for fraud and money laundering.

According to Pol Lt Gen Worawat, the two had deceived victims online into investing in phony cryptocurrency assets by using false profile pictures, defrauding victims in numerous nations out of around 10 billion baht.

Using Thai citizens as their nominees, the suspects also established a corporation to launder the money they had stolen from their victims.

The most recent arrests happened when CCIB investigators expanded their search for those connected to the fraud network.

READ MORE https://consumer.ftc.gov/articles/what-know-about-cryptocurrency-and-scams

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