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​Crypto cause Thai arrest stole 16 million dollars

2019-09-05 09:58 am | Resource: News Section | No Views : 33

​Crypto cause Thai arrest stole 16 million dollars A 48-year-old Thai man who called himself the "Crypto wizard" was arrested in Bangkok for his alleged role in a 500 million baht ($ 16.3 million) digital currency scam.
Police arrested Mana Jomwang, who has been under arrest warrant since Aug. 23 this year, while playing football in Bangkok's Huai Khwang district yesterday, the Bangkok Post reported Thursday.
According to Paul Mag Jane Giravob Fridet, commander of the Bangkok Police Crime Prevention Division, Jumwang is accused of belonging to a Thai-Vietnamese criminal group that targeted victims in at least 10 Asian countries, including South Korea and Vietnam.
Their scheme included persuading targets to invest in the digital currency through which each group member took responsibility for a particular role - such as opening bank accounts and committing as investors to Crypto assets.
The victims initially received returns on their investment, but contact with the group suddenly stopped, police said.
The total casualties reported by the victims are estimated at 500 million baht ($ 16.3 million) Jumuang himself is accused of spending some illegal money to buy land in Phichit province in Thailand.
The police are continuing to pursue other Thai suspects, while the four Vietnamese members are believed to have already fled the country, Paul Mag said.
While Mana Jumwang may have invented his famous title, a famous Thai man was arrested last summer for his alleged role in 797 million baht ($ 24.6 million) stealing Bitcoin investments.
Thai opera star Jiratpisit "Boom" Jaravijit, 27, was arrested for money laundering after working with six of his partners - including his brothers - to entice investors for allegedly investing digital currency in a gambling-focused token, without offering any View them with a return.
Fraud is one of the biggest problems facing the Crypto market today, as many investors are still unsure about the security of trading platforms or currencies in general.

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