Thai Police Arrest Suspect in $24 Million Bitcoin Scam

Thai police have detained 27-year old actor Jiratpisit "Boom" Jaravijit in an alleged $24 million cryptocurrency scam, Bangkok Post reported August 9.

Jiratpisit is reportedly one of the seven suspects in the alleged crime, including his older brother and sister. On July 26, the Criminal Court awarded a warrant for his arrest following a complaint from a Finnish man that he had fraudulently lured foreigners into investing 797 million baht (nearly $24 million) worth of cryptocurrencies. Jiratpisit has been detained on charges of money-laundering activity, which he denies.

The alleged cybercrooks reportedly promised to purchase shares in companies that invested in the cryptocurrency Dragon Coin. According to the Bangkok Post, investors did not receive dividends from their supposed investment or an invitation to a shareholders’ meeting. The Crime Suppression Division states that the criminals withdrew BTC from their e-wallets and then converted it to baht.

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