A suspect was apprehended in Phuket and revealed to authorities that he was involved in a multi-million baht investment scam.
The Phuket Express reported that the Cyber Crime Investigation Bureau has received numerous reports from victims who had invested in a Crypto trading site.
A suspect contacted them on Facebook and convinced them to invest with big returns via the ‘Coinbase Wallet’ app. However, after placing their investment, they were unable to withdraw their funds.
The overall cost of the damages exceeded 1,400,000 million baht.
Police resumed their investigation and arrested Mr. Tei, 25, at a residence in Wichit, Mueang Phuket.
The arrest was made after the Songkhla Provincial Court issued an arrest warrant for him on suspicion of fraud and importing fake information into internet systems.
The defendant has confessed to the charge and also told police that he opened a horse account for someone else and got 800 baht from it.
According to the Phuket Express, the Cyber Crime Police have detained 11 perpetrators in this fraud so far.
According to the Phuket Express, new legislative amendments have made it illegal for persons to open bank accounts for others that are used for illicit conduct.
Police have repeatedly urged Thais not to open bank accounts for others, particularly strangers, because one can now be held legally accountable for everything the recipient does with the account.
