A burgeoning cryptocurrency fraud case took a major flip as a 25 yr outdated man was apprehended by the Cyber Crime Investigation Bureau (CCIB) in Phuket. Suspected of being a money mule inside a criminal operation, authorities allege the man, named Toei, opened a checking account aiding a cryptocurrency fraud enterprise scamming over 1.4 million baht from unsuspecting individuals.
The arrest occurred within the vicinity of Wichit, based on an account given by CCIB late last week. The precise timestamp of apprehension has not been disclosed by officers. Toei was detained underneath a warrant issued by the Songkhla Provincial Court, citing allegations of fraudulent actions. A CCIB spokesperson said…
“In essence, the charges embody jointly defrauding the common public and inputting false information into a pc system in a method that’s prone to trigger injury to other individuals or the general public.”
Decisive motion by the police followed multiple victim complaints of bogus funding opportunities in cryptocurrencies, as elaborated by the CCIB report. Fraudsters focused victims on Facebook, offering excessive yields on investments funnelled via a Coinbase Wallet utility. Unusually excessive returns initially greeted minuscule investments, coaxing victims to extend their financial commitments. However, the unsuspecting traders have been robbed of their entry to the funds sooner or later.
The subsequent investigation into the cryptocurrency fraud unveiled the depth of the deceitful financial quagmire. The scamming cooperative had six separate financial institution accounts spread across a number of monetary institutions, serving as conduits for siphoning off victims’ funds. The CCIB report confirmed all six accounts had been interlinked.
“Toei confessed to his part in the embezzlement operation.”
Reportedly, two months prior, Toei opened a bank account for a confederate, receiving a measly 800 baht for handing over the financial institution particulars and ATM card.
Panithan Yamanon, Deputy Superintendent of CCIB Region 5 department, said…
“Officers will expedite their investigation into the operation to track down and arrest all remaining offenders.”
Panithan added that arrest warrants have been issued for 11 different individuals in connection with the net fraud.
Toei’s apprehension trails the latest seize of another suspect known as Ekapol, arrested at Free dom Beach. Ekapol admitted to opening two bank accounts for a pal from Myanmar, pocketing a modest 2,500 baht per account.
Investigation authorities, led by the Central Investigation Bureau (CIB), initiated a probe into an alleged investment rip-off in 2022, getting wind of it from sufferer testimonials at Tao Poon Police Station in Bangkok. As the victims found, they’ve been ensnared in what was finally a fraudulent investment scheme costing them hundreds of thousands of baht..

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