Thai Suspect In Bitcoin Scam Arrested

Maja Mazur
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The last member of the Jaravijit family gang, Prinya, has finally been caught at the airport after returning to Thailand. In August he fled the country after a multi-million crypto crime has been discovered by the Thai police.

Thailand’s aspirations

Thailand is relatively new to the crypto scene, but they make up for the lost time quickly enough. New regulations and initiatives come up by the minute. Maybe the country wants to follow South Korea’s footsteps and become the new East crypto power? We will certainly hear about that in the next year or so.

Gigantic bitcoin scam

This time around, these Thai citizens haven’t made their homeland proud, though. A few months ago the piece of information about a huge Bitcoin fraud spread through the Thai media. The main suspects were the Jaravijit brothers – Prinya, Jiratpisit and Thanasit. The group was accused of luring Finnish investor Aarni Otava Saarimaa to transfer 5,564 bitcoins, equivalent to about 797 million baht, to a virtual wallet. The fraudsters claimed that it was supposed to be an investment in the shares of three firms. The victim obviously hasn’t received the shares.

Family scheme

Later during the investigation, it turned out that other members of the Jaravijit were also involved. The older sister Suphitcha knew all about the scam plan and she decided to surrender to the police. Jiratpisit and Tanasit had been arrested not long before that. In the meantime, the siblings’ parents received a juicy transfer into their bank account worth reportedly 90 million bahts.

Caught at the airport

Prinya, unlike his older sister, apparently wasn’t feeling guilty because during the investigation he fled to the United States. All of that happened in August and there was no sign of Mr. Prinya whatsoever, up until now. A few days ago the last of Jaravijit brothers was finally been caught on Suvarnabhumi airport in Bangkok, after his return to the country. He was flying Asiana Airlines from South Korea, as a connecting flight from the US. He returned because his longer stay in North America would cause legal sanctions. Now that all the suspects have been arrested, the police can finally continue the investigation.

The scam is believed to be one of the hardest and most challenging cases of financial crime that has ever been reported in Thailand.

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