Authorities have taken out a Chinese-led group that deceived individuals into believing they were investing in gold worth a billion baht by using the name of a reputable jewelry company.
Chief of the Central Investigation Bureau Pol Lt Gen Jirabhop Bhuridej stated on Tuesday that 26 individuals, six of whom were Chinese nationals, had been arrested during raids on 21 locations in Bangkok, Chon Buri, and Chiang Mai over the previous week. In the case, there were fifty suspects.
He claimed that the con artists utilized the name of a well-known jewelry manufacturer, Aurora Design, to deceive people and that they were situated in Thailand.
The commissioner stated that Aixia Liu, 48, Long Huabiao, 38, Yangfeng Xiao, 29, Liang Wang, 28, and Sakuna Chansuk, 44, were the four Chinese nationals and the Thai woman who ran the gang. The Chinese suspects were captured in Chon Buri and Bangkok. There was no mention of the other two Chinese.
Under the fictitious Aurora Design Facebook page, the gang advertised investment returns of 20–30%. Investors were barred and communication stopped when they attempted to take their promised gains.
Most of the arrested defendants, according to Pol Lt Gen Jirabhop, denied all of the charges. When they discovered bitcoin worth roughly 28 million baht in their possession, police seized it for inspection.
“Investigators found that the group had more than 1.2 billion baht in circulation,” he stated.
Thai proxies ran three fake companies that processed the gang’s money.
The chief of the CIB claims that funds from the victims were moved into the accounts of foreigners via three tiers of Thai mule accounts.
A portion of the funds were used for purchases made abroad and in Thailand. The commodities were shipped to Laos and Cambodia, where they were exchanged for money. The victims’ funds were also utilized to purchase real estate or cryptocurrency investments.
This gang was situated in Thailand, unlike call frauds, which were run out of nearby nations, according to Pol Lt Gen Jirabhop. The inquiry was still going on.
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