The combination of Thailand and bitcoins is making news for sometime for both positive and negative reasons. In a recent addition to this saga, is the $24 million bitcoin fraud surfacing in Thailand news outlets.
The reason for such a buzz around this scam is the alleged involvement of famous Thai actor Jiratpit ‘Boom‘ Jaravijit. Not only him, but his siblings and parents are allegedly accused of money laundering and fraud.
The actor reportedly pleaded innocence against the charges made for the fraudulent transaction in his latest investigation appearance. The actor also denied any acknowledgment about the trading account registered on his name used to accept bitcoin deposits.
The investigations are made by Crime Suppression Division (CSD) of Thailand as part of their 800 million bitcoin investment scam investigation.
Famous actors, Jiratpisit Jaravijit along with sister and elder brother are among the main accused of this case. The list extends to stock exchange investor Prasit Srisuwan.
The arrests trace their roots on the complaint made by Finnish businessman, Aarni Otava Saarimaa. He alleged that Srisuvan along with the Jaravijit siblings made him invest 5564 bitcoins ($24 million)against a shareholding of DNA 2002 Plc company. Main suspect Prinya Jaravijit reportedly owns the company. The promise was made to transfer 500 million shares in DNA 2002 at rate price of 0.50 baht each.
Subsequently Boom was arrested from a shooting set on August 8, 2018. He was charged with money laundering and fraud.
The CSD chief said that the only way to withdraw these charges is if the victim accepts a compensation settlement and withdraw his charges voluntarily.
The parents Lertchatkamon Jaravijit and Suwit Jaravijit are also on the verge of being arrested for money laundering Activities. They are allegedly involved in the activity of transferring of money obtained by fraud to various accounts. They are to be summoned by the investigation authorities sooner or later.
This investigation is an alarm for both investors and traders to be aware of crypto-frauds. It also portraits a good image of Thailand law enforcement against Cryptocurrency related scams.