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5,564 BTC Investment Scam Occurred in Thailand

According to Bangkok Post on Monday, a 22-year-old crypto millionaire in Thailand has lost approx. 5,564 BTC in an investment scam where Thai film actor JiratpisitJaravijit involved.

The report mentioned a group of Thai people in June 2017 accosted and lured a Finnish businessman AarniOtavaSaarimaa for participating in numerous Thai stocks including Dragon coin which is one of the latest cryptocurriences and a casino in Macau.

“The gang of seven perpetrators trapped the victim to transfer 5,564 bitcoins to its e-wallet, claiming the payment was for the shares of three firms, including DNA 2002 Public Company Limited. But he never received the shares after making the transfer,” said Chimcherd.

Due to the promises that the group built at the time of selling the scheme that upon issuance, the Dragon Coin can be used at the casino the innocent people unknowingly fallen into a trap. Even to show their realism the group even taken Saarimaa to a casino in Macau to show the legitimacy of the plan. AarniOtavaSaarimaa believed in the scheme, transferred a total of 5,564 bitcoins to the group which he got to know later about the scam when he did not get any benefit out of it and transparency of the said promises. Saarimaa, later with his local business partner lodged a complaint in January to Thailand’s Crime Suppression Division (CSD).

Later Major General MaitreeChimcherd, chief of Crimes Suppression Divison revealed that the promises made to Saarimaa by the gang never materialized. After procuring BTC of approx. US$24 million they liquidated into THB before being moved to bank accounts belonging to Jaravijit’s siblings and later various other members of the gang of seven hoaxers.

Warrants of arrest have also been issued against the suspected sibling of the actor ParinyaJaravijit, alleged as a “ringleader” of the scheme who is currently overseas, left Thailand immediately for the U.S. said the report.

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