A Thai crypto scammer will have to spend more days in the US after the Thai Embassy revoked his passport. Mr. Prinya Jaravijit alongside others were implicated in a Bitcoin investment scheme in which a Finish investor lost $24 million. His passport was rendered useless making him unable to return to his homeland to answer to charges. Furthermore, as per now his stay in the US is illegal.
According to reports from the Crime Suppression Division, Mr. Jaravijit and his accomplices lured Businesswoman Chonnikan Kaewkasee and her partner Finnish millionaire Aarni Otava Saarima with promises of high returns. The two went ahead and transferred 5,564 bitcoins worth 797 million baht. The cash was to be used to purchases shares in three firms DNA 2002 Plc, NX Chian Inc, Expay Software and virtual currency Dragon coins. The two were taken to Macau Based casino where they were told the tokens would be used. Later on, after transferring the Bitcoins, Mr. Saarima didn’t receive any profits as promised. Moreover, he didn’t receive any documentation from the group that showcases he is a shareholder in the said firms. After realizing this Mr. Saarima logged a complaint with the CSD which lead to the arrest of Mr. Jaravijit accomplices many of whom are his family members.
Other Accomplice Arrested
Apart from Mr. Jaravijit facing criminal charges his brother a soap opera actor Jiravijit “Boom” Jaravijit was arrested in August by Thai police. Similarly, Mr. Jaravijit parents are set to appear in court to face money laundering charges after they received money from their son. Besides Mr. Jiravijit family members other accomplices are businessman Chakrit Ahmad and investor Prasit Srisuwan. Although the latter suspects are part of the group, they have already reached an agreement with the Finish investor on a compensation plan. As for Jiravijit’s family, the Anti Money Laundering Office on Tuesday visited them seized funds from his family and other people involved.
Furthermore, Jiravijit elder brother is set to appear in court next week to answer to money laundering charges. The seized funds are worth $6.4 million. Some of the confiscated assets include parcels of land and money from several bank accounts.
The rise in scammers in Thailand cryptocurrency industry has led to a lot of measures been put to help seal loopholes. It’s just recently that Thailand’s Anti-Money Laundering Office (AMLO) announced its setting up its AMOL wallet. Through the wallet, the agency will be able to hold cryptocurrency funds seized from crypto scammers.