Malaysian duo arrested over Thai scam
Thai police have cracked down on a scam syndicate and arrested nine suspects, including two Malaysians who allegedly lured more than 50 victims into an investment scheme, causing losses of about 800 million baht (RM105 million).
Economic Crime Suppression Division Commander Pol Major-Gen Puttidej Bunkrapue said a 42-year-old Malaysian man, believed to be the mastermind of the syndicate, was arrested in Sadao, Songkhla on March 6. Another man, a 26-year-old with a criminal record in Malaysia and his 30-year-old Thai girlfriend, were arrested in Bangkok the following day.
He said both Malaysians and the Thai woman are believed to be part of a transnational syndicate operating across Thailand, Malaysia and Cambodia.
“The syndicate is estimated to have more than five billion baht circulating within its network.
“Initial investigations found the syndicate lured and defrauded more than 50 victims, mostly women. Some of the victims transferred between 10 and 15 million baht at a time. A Thai elderly woman suffered the highest loss, at 50 million baht.”
The two Malaysians are facing charges that include fraud, computer crimes and technology crimes, which could result in prison sentences of up to five years. They may also face charges of transnational organised crime, which carries a maximum sentence of up to 15 years in prison.
Investigations revealed the syndicate’s reach spanned across multiple countries in Southeast Asia, including Cambodia, Thailand and Malaysia as well as Hong Kong.
The 42-year-old suspect frequently travelled between Malaysia, Thailand and Cambodia. Investigators also found IP addresses and financial transactions linked to the syndicate in Hong Kong. Puttidej said police seized 84 bank accounts containing more than 20 million baht as well as 20 cryptocurrency accounts.
“Police also seized 33 computers, 65 mobile phones and a collection of luxury goods, including cars, branded bags and watches.”
He said the court issued arrest warrants for more than 50 suspects, including eight Malaysians and one Indonesian who were allegedly involved in the syndicate.
“We are seeking cooperation from Malaysian police to hunt down more suspects.”
The victims were lured to invest through an app called “Nichare”, that promised easy profits and allowed initial withdrawals, to build trust. However, when victims attempted to withdraw large amounts, they were met with restrictions. The scammers then pressured them to pay additional fees to unlock their original investments.