A high-profile crypto case involving a well-known actor and model has come to public attention in Thailand following the enforcement of the country’s crypto regulations. Over 5,564 BTC were reportedly stolen from a bitcoin millionaire. The alleged ringleader has fled to the U.S. Thailand’s main crypto regulator is cooperating with the police on the case.
High-Profile Crypto Case
A high-profile crypto fraud case has recently gained public attention in Thailand following the implementation of the country’s cryptocurrency regulations. The case involves a well-known, 27-year-old soap actor and model, Jiratpisit Jaravijit, also known as “Boom”.
The actor, his sister, brother, and six others allegedly defrauded a 22-year-old Finnish bitcoin millionaire out of 5,564.4 BTC, the Bangkok Post reported.
According to police, Aarni Otava Saarimaa and his business partner were “lured into buying shares in three companies and investing in a casino and new cryptocurrency known as Dragon Coins but had seen no returns at all on the money they put in,” the publication elaborated, adding:
They also talked the victims into believing the Dragon Coins would be used at a casino in Macao, which they took them to visit to add weight to their claim. After receiving the bitcoins from the victims, the gang sold the cryptocurrency and transferred the money into various bank accounts.
Arresting the Gang
Boom was arrested last week at a filming location in Bangkok’s Chatuchak district after police found that he received part of the swindled money; he was later released on bail, the news outlet detailed.
His brother and the alleged ringleader, Prinya Jaravijit, already fled the country to the U.S. via South Korea. The Thai police’s Crime Suppression Division (CSD) which is investigating the case is asking U.S. authorities to help track him down. Boom’s sister will be turning herself in on Wednesday, according to INN News.
The CSD learned of this case in January when Saarimaa’s Thai business partner, Chonnikan Kaeosali, filed a complaint, the Bangkok Post conveyed. The Finnish bitcoiner was approached by the fraudsters in June last year.
Led by deputy commander Pol Col Chakrit Sawasdee, the CSD began gathering evidence to request arrest warrants for Boom, his siblings and six other suspects. “The Jaravijit siblings face charges of money laundering after investigators found they had purchased a number of plots of land recently,” the publication described, adding that they are likely to face fraud charges too.
“This case is complicated. We had to carefully examine documents and trace the money trail. We collaborated with Amlo [the Thai Anti-Money Laundering Office] and it took us almost seven months to get approval for the arrest warrants for the first group,” Pol Col Chakrit was quoted by the news outlet. He elaborated:
A total of 51 bank accounts have been frozen and 14 plots of land worth 176 million baht [~US$5,291,403] have been frozen as the investigation into the scheme proceeds…The money needs to be frozen and brought back to the victims.
Thai SEC’s Warning
As the case unfolds, the Thai Securities and Exchange Commission (SEC), the main regulator of cryptocurrencies in the country, issued a statement warning the public of crypto-related frauds.
On August 9, Voice TV reported that Mr. Rapee Sucharitakul, Secretary-General of the Thai SEC, commented that Boom’s case may be a violation of the country’s new crypto regulations or a criminal act. Nonetheless, the SEC will collaborate with the police on the case, he confirmed.
The SEC also urged the public to be cautious when approached to invest in cryptocurrencies or crypto-related projects, emphasizing that some schemes do not involve real investments.
For initial coin offering (ICO) tokens, the regulator revealed that currently no permit has been granted to any token issuers or ICO portals.
Companies already operating crypto businesses prior to May 14 that have applied for a temporary license by August 14 are allowed to keep operating temporarily until further notice. New businesses must obtain approval prior to starting crypto operations, the regulator clarified.
What do you think of this Thai crypto fraud case? Let us know in the comments section below.
Images courtesy of Shutterstock, Thai SEC, Instagram, and Mgr Online.
Need to calculate your bitcoin holdings? Check our tools section.
The post High-Profile Thai Crypto Case: Bitcoiner Lost Over 5,500 BTC – Ringleader Fled to US appeared first on Bitcoin News.
from Bitcoin News https://ift.tt/2BnqE1Z High-Profile Thai Crypto Case: Bitcoiner Lost Over 5,500 BTC – Ringleader Fled to US