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Thai Police conducts raids for crypto scammers nationwide

June 29, 2023 Thailand Crime & Legal

Thai Police conducts raids for crypto scammers nationwide

Thailand’s Cyber Crime Investigation Bureau conducts a nation-wide search operation for those involved in crypto fraud. One such operation in an upmarket condo yielded a Chinese couple from Sathorn district allegedly involved in the worldwide scam.

The Cyber Police, led by Damrongsak Kittiprapas and Roy Ingpairoj led a task force in 10 locations across Bangkok, Samut Prakan, and Chon Buri.

The team stormed into a 37-floor luxury condo in the Sathorn district, worth an estimated 128 million baht (US$3,635,693). The dwelling, decked out in exorbitant fittings, was home to Abin Ye, the husband of Keyi Ye, also known as Ki Yee Ye.

The couple, who were Chinese nationals, were the primary suspects in an ongoing cryptocurrency scam investigation. The couple was apprehended following an arrest warrant issued by the Criminal Court on May 26, for their involvement in defrauding the public and money laundering.

Abin had also been declared an international fugitive by Interpol for his alleged participation in deceiving Chinese citizens out of more than 180 million yuan (880 million baht). An initial examination of the raided property resulted in several key pieces of documentation and electronic equipment that had been left behind, all of which were seized for further investigation.

In addition to the Sathorn condo, the commandos also raided several other luxurious residences, each valued at 60 to 80 million baht. These properties, situated in Samut Prakan and Chon Buri, were reportedly bought in the name of Chinese-funded corporations. The police thus seized these properties for further procedures under the law.

This operation is an expansion of the first part of the ‘Trust No One’ mission, during which six premises in the Sriracha district were searched, and two Chinese suspects, 31 year old Saosian Zhu, and 25 year old Ki Yi Yee were arrested. These cryptocurrency suspects had allegedly lured victims through various social media channels using forged profiles. They enticed investments in fake platforms for trading digital currency or other assets, a hybrid scam that robbed victims of over 35 million baht.

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