In a recent development from Thailand, authorities uncovered a massive crypto scam targeting local investors, with damages amounting to more than $27 million.
In collaboration with international bodies, local enforcement agencies went after a fraudulent investment platform, leading to multiple arrests and property seizures.
Decoding The Deceptive Web: A Scheme Unveiled
A report from the Bangkok Post highlighted the expansive nature of this scheme, which had successfully duped over 3,200 Thai locals.
Orchestrated by five foreign nationals, including four from China and one from Laos, the platform bchgloballtd.com acted as a façade, pulling unsuspecting investors into its trap.
Efforts by Thailand’s Cyber Crime Investigation Bureau (CCIB), with support from the United States Homeland Security Investigations and several other international law enforcement agencies, began when aggrieved investors approached the authorities towards the end of 2022.
These investors expressed distress over considerable losses, with many having placed their life’s savings or mortgaged properties into the platform, only to see them evaporate.
Acting on the gathered evidence, Thailand’s Office of the Attorney General pursued prosecution in August 2022. Consequently, the five suspects faced severe charges, including conspiracy to commit transnational crimes, public fraud, and money laundering.
As a testament to the gravity of the crime, the Anti-Money Laundering office seized pers
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Author: Samuel Edyme
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