Thai Police Crack Down on Major Scam Syndicate
BANGKOK, Dec 19 (Bernama) — Thai police have made significant progress in combating a major scam syndicate that laundered over 5 billion baht (100 baht = RM13.02) through fraudulent transactions.
Key Suspects Arrested
The Commander of the Economic Crime Suppression Division (ECD) under the Central Investigation Bureau (CIB), Pol. Maj. Gen. Puttidej Bunkrapue, revealed that the two key suspects involved in the large-scale money-laundering scheme were arrested. The 38-year-old Malaysian man, wanted under a warrant issued by the Criminal Court, was detained at the Sadao Immigration Checkpoint in Songkhla province as he entered Thailand on December 16. His Thai wife, also implicated in the scheme, was arrested at a different location on December 18. Both suspects face charges of collusion in money laundering.
Operation Details
The investigation, led by Pol. Col. Theeraphas Yungyuen, uncovered a highly organized network involving both Thai and foreign nationals. The syndicate laundered more than 5 billion baht through complex layers of fraudulent transactions. The arrested suspects were ringleaders in a sophisticated scheme, using multiple bank accounts to convert funds into USDT cryptocurrency. The use of digital assets significantly complicated efforts to trace the funds.
Investigation Timeline
The arrests followed complaints from numerous victims who were duped into investing through fake mobile applications, including "Nicshare" and "ComonApps", which falsely promised high returns from stock market investments. The CIB launched "Operation Ghost Company" and uncovered more than 200 shell companies across Thailand, many of which were non-operational but used to open mule bank accounts that facilitated money laundering.
Prosecution Plans
The CIB is determined to track down the remaining members of this criminal network and ensure that those responsible for creating shell companies and facilitating money laundering are prosecuted to the fullest extent of the law.
Conclusion
The Thai police’s efforts to combat the scam syndicate have brought significant progress, but more work remains to be done to ensure the prosecution of those responsible. The case highlights the importance of vigilance and cooperation in preventing and combating financial crimes.
Frequently Asked Questions
Q: How did the scam syndicate operate?
A: The syndicate used fake mobile applications to dupe investors, promising high returns from stock market investments. They then laundered the funds through complex layers of fraudulent transactions.
Q: How did the Thai police uncover the scam?
A: The police launched "Operation Ghost Company" and uncovered over 200 shell companies across Thailand, many of which were non-operational but used to open mule bank accounts that facilitated money laundering.
Q: How much money was laundered through the scam?
A: Over 5 billion baht (100 baht = RM13.02) was laundered through the fraudulent transactions.