'Cryptocurrency wizard' arrested in B500m fraud case

'Cryptocurrency wizard' arrested in B500m fraud case

Police arrest Mana Jumuang, 48, seated right, at a football field in Huai Khwang district, Bangkok, on Wednesday evening for alleged B500m cryptocurrency fraud. (Photo supplied)
Police arrest Mana Jumuang, 48, seated right, at a football field in Huai Khwang district, Bangkok, on Wednesday evening for alleged B500m cryptocurrency fraud. (Photo supplied)

A 48-year-old man wanted for his role in an alleged 500 million baht cryptocurrency exchange fraud was arrested in Bangkok on Wednesday evening.

Mana Jumuang was arrested while playing football at a field on Rama IX Road in Huai Khwang district, Pol Maj Gen Jiraphop Phuridet, commander of the Crime Suppression Division, said on  Thurday.

He was wanted under an arrest warrant the Phichit provincial court issued on Aug 23.

Mr Mana is accused of being part of a Thai-Vietnamese gang that conned thousands of people in at least 10 Asian nations, including South Korea and Vietnam. The gang comprised three Thais and four Vietnamese, Pol Maj Gen Jiraphop said.

Their victims reported losses totalling about 500 million baht, he said.

Over the past two years the gang had persuaded people to invest in digital currencies through them. Gang members had individual roles, such as opening bank accounts and claiming to be digital asset investors.

Mr Mana termed himself the "cryptocurrency wizard" and allegedly spent some of the investors' money buying land in Phichit province.

Victims had received returns only initially, and were then unable to contact any of the gang members, the CSD chief said

Police were hunting for two other Thai suspects. The four Vietnamese suspects had already fled the country, Pol Maj Gen Jiraphop said.


Do you like the content of this article?
COMMENT (11)

Coronavirus keeps Chinese visitors away from HK during Golden Week

The shine is gone from the annual Golden Week holiday that begins on Oct 1, and Hong Kong's hotels, restaurants, shopping malls and attractions can only look back wistfully at the better times of years gone by.

19:55

Belarus opposition holds 'people's inauguration' protest

MINSK: Belarus police on Sunday arrested several people before an opposition march in support of protest figure Svetlana Tikhanovskaya days after the country's leader was secretly sworn in despite historic protests.

19:45

Virus world update

Overnight curfew in Australia's second city to be lifted as coronavirus cases spike in New York global coronavirus toll approaches one million dead.

19:00