Chinese suspect in crypto fraud arrested
published : 24 Nov 2022 at 12:55
writer: Wassayos Ngamkham
Police have arrested a seventh member of a gang that allegedly duped people into investing in a fraudulent cryptocurrency scheme.
Baoxun Zhan, 35, a Chinese national, was detained outside the Government Complex on Chaeng Wattana Road in Thung Song Hong area on Wednesday after the Samut Prakan Provincial Court approved an arrest warrant.
Mr Baoxun faces charges of collusion in public fraud and putting false information into a computer system, Pol Maj Gen Athip Phongsiwaphai, commander of the Technology Crime Suppression Division, said on Thursday.
Six alleged accomplices, two Chinese nationals and four Thais, were previously arrested.
The suspect and his accomplices jointly opened accounts on Facebook and the Tinder dating app, posting decoy photos of good-looking people in their profiles, to attract people into investing in the crypto scheme.
The suspect and his gang told potential victims they had become wealthy from this investment. Victims transferred money to the gang and only later suspected they had been swindled when they could not withdraw their funds or promised returns, Pol Maj Gen Athip said.
A group of them complained to police that they had lost a total of 3 million baht.
Subsequently, arrest warrants were issued for those involved, and six gang members were arrested.
During questioning, Mr Baoxun denied any involvement, he said. However, investigators believed he was a leading member of the gang. The suspect was handed over to Samrong Nua police station for legal action.