A man about 48-year-old arrested for his part in a 500m baht exchange fraud in Bangkok this Wednesday evening.
The man named Mana Jumuang was found playing football at the time of arrest in a field by Rama IX Road in the district of Huai Khwang. The news came out from the commander of crime suppression division, Pol Maj Gen Jiraphop Phuridet late on Thursday this week. The man was arrested under a warrant from the Phichit court of the province which was released on August 23rd.
Mr. Mana is also blamed for having played a role Thai-Vietnamese group of gangsters that had killed hundreds of people around at least ten of Asian nations, that consisted of South Korea & Vietnam. The group had three from Thailand, and four from Vietnam reported Pol Maj Gen Jiraphop.
Through the last two years, the group had nagged people to put in their money in virtual currencies via their interface. The members of the gang played individual parts from, opening accounts in banks to impersonating to be investors of digital assets.
Mr. Mana called himself the wizard of cryptocurrency and possibly wasted a part of investors’ sum in lands in the province of Phichit. The CDS chief reported that Victims were only reimbursed of initial amounts and after that lost all contacts with all of the members in the group.
Police were after two other suspects from Thailand. The four from Vietnam had reportedly fled the premises to foreign lands, said Pol Maj Gen Jiraphop.
Cryptocurrencies are out as evil virtues in Thailand and are growing concerns among the businesses and governments alike. All kept aside, it still is a lucrative investment opportunity, especially for younger generations. There are also various licensed firms working in the crypto landscape with Banks in Thailand and approval from the finance ministers. Several eyes look upon Thailand & Bangkok as good places for trade opportunities in the industry.
However, it is these incidents of money laundering and exchange frauds that invite criticism from the officials and the governing bodies, particularly financial and criminal investigation bodies against the successful regulation of cryptocurrencies within the states.