Bangkok:Police have arrested a group of individuals involved in a scheme that manipulated victims into romantic relationships before enticing them to invest in a fraudulent stock trading application, resulting in losses exceeding 200 million baht.
According to Thai News Agency, the Central Investigation Bureau (CIB), with the help of the Crime Suppression Division, arrested 16 suspects across various locations including Bangkok, Samut Prakan, Rayong, and several other provinces. The suspects allegedly operated an online romance scam, targeting wealthy, older victims by creating a fake Facebook account under the name "Nong Fah" to establish romantic connections. Once trust was established, the victims were persuaded to download a counterfeit stock trading app with promises of exorbitant returns.
The fraudulent scheme involved creating false profits within the application to convince victims of its legitimacy. However, when victims attempted to withdraw their funds, they encountered obstacles such as demands for fines, taxes, and additional fees, leading them to repeatedly transfer money in hopes of reclaiming their investments. The criminal group reportedly laundered money through 36 corporate dummy accounts to evade detection by authorities.
Further investigations led to the issuance of 75 arrest warrants for charges related to conspiracy to defraud the public, fraudulent lending, and violations of the Computer Crime Act. Out of these, 33 arrest warrants have resulted in the detention of 16 individuals, while nine suspects are already imprisoned under 18 warrants. One main suspect, Ms. Pornnapa, who managed the primary bank account for receiving funds, faces four arrest warrants. There are still 15 suspects at large with 26 warrants against them. Authorities are continuing their investigation to identify additional members of the network and pursue further legal actions.