A Crypto Scammer Fleeing With 500 Million Baht. Bangkok, Thailand — The Thai capital of Bangkok is home to the world’s largest Buddhist temple. He has been apprehended in the country’s capital after being accused of being the mastermind. Behind a bitcoin investment scheme. A fake cryptocurrency scam that he created was used to recruit people to engage. With the promise of substantial financial gain in exchange for their participation. According to him, customers would obtain a 400 percent return on their investment. If they invested in his plan within 200 days. He claimed that this was possible.
In Thailand’s capital, Bangkok, on Saturday, a 50-year-old man was detained on suspicion. Of defrauding Thai and foreign cryptocurrency investors out of their money through deception. He is being held in police custody at the present time. He claims that he attempted to depart. With more than 500 million baht (about $15 million) in cash. According to a report published by the Bangkok Post.
As disclosed by Major General Montri Thetkhan, the CSD’s Deputy Commander, Mana Jumuang. Along with his Thai and Vietnamese friends, reportedly conspired to defraud investors. In the years 2018 and 2019.
He stated that Jumuang falsely represented himself as a cryptocurrency specialist. And exploited promises of large returns on investment to lure people to put their money. Into Onecoin’s cryptocurrency in order to gain control of the cryptocurrency. Investors obtained a 400 percent return on their money within 200 days of making the deal. According to the CSD’s Director of Investigations.
He and his associates claimed to have established storefronts to sell things. On a cryptocurrency trading platform in exchange for Onecoin. Including houses and automobiles, plots of land on which to construct mansions. Gold, nutritional supplements, cosmetics, and fashion.
It’s unclear if Jumuang’s phony crypto
According to current information, it is unclear whether Jumuang’s fictitious cryptocurrency. Scam is in fact linked to the famed Onecoin Ponzi scheme. Which was established by “Cryptoqueen” Ruja Ignatova and has since gone under. According to media reports, the plan is estimated to have produced around $4 billion. In total revenue worldwide. Because to their actions, the great majority of the Onecoin scheme’s leaders. Have either left the country or imprisoned during the last few weeks. When Ruja Ignatova vanished without a trace in 2017. It was impossible to find any evidence of her existence.
According to Thai officials, Jumuang paid dividends to its owners shortly. After the company’s operations were launch in 2003. While the total amount of investment exceeded 500 million baht. And the number of investors continued to grow. A crypto scammer co-conspirators were unable to identified or contacted.
Following the filing of complaints with police at a number of different stations. Throughout the country, an arrest warrant for Jumuang was issue. The man was haule into prison in May of this year. But he was release the next day on a $5,000 bond. He failed to appear in court during the next few days. And a new arrest warrant was issue for him as a result. According to sources in the local media, Jumuang is the subject of more than 14 arrest warrants. All of which have been issue against him. The suspect was successful in securing a place of residence on the outskirts of Bangkok. Where he was also apprehend on Saturday afternoon a crypto scammer.