Thailand authorities arrest five men in connection with $27 million fraudulent cryptocurrency investment scheme.
Authorities in Thailand arrested five foreign nationals linked with a fraudulent cryptocurrency investment platform that fleeced over $27 million from local investors.from the Bangkok Post, Thailand’s Cyber Crime Investigation Bureau arrested four individuals from China and one from Laos for orchestrating a fraudulent investment scheme that duped more than 3,200 locals.
The CCIB began investing the operation after affected investors came forward in late 2022, claiming that they had lost investments made through bchgloballtd.com with the assistance of the United States Homeland Security Investigations and other international law enforcement agencies. The five accused were arrested and charged for colluding to commit transnational crime, public fraud and money laundering.
The Office of the Attorney General in Thailand moved to prosecute the suspects in August 2022, before the anti-money laundering office confiscated 585 million baht worth of personal property from the accused. CCIB spokesperson Kissana Phathanacharoen said that investment schemes continue to cause the most financial damage of scams reported in the country. Victims are said to invest life savings into the schemes or take out finance on homes or property.for virtual asset service providers in the country aimed at increasing investor protecting and safeguarding user funds held by custody providers.
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