Crypto Scammer Arrested in Bangkok After Fleeing With 500 Million Baht– Regulation Bitcoin News


A male supposedly behind a cryptocurrency financial investment fraud has actually been jailed in Bangkok,Thailand He tempted individuals into purchasing his deceitful crypto plan by guaranteeing high returns, informing financiers they might make a 400% return by purchasing simply 200 days.

Alleged Crypto Scammer Arrested in Bangkok

A 50-year-old male who supposedly scammed Thai and foreign cryptocurrency financiers was jailed on Saturday in Bangkok,Thailand He attempted to run away with over 500 million baht ($ 15 million), the Bangkok Post reported

Major General Montri Thetkhan, leader of the Crime Suppression Division (CSD), stated Mana Jumuang, in addition to his Thai and Vietnamese accomplices, supposedly conspired to scam financiers in 2018 and 2019.

He detailed that Jumuang declared to be a cryptocurrency master, deceiving financiers into purchasing Onecoin by guaranteeing high returns. The CSD chief kept in mind that the suspect informed financiers they might invest and make a 400% return in simply 200 days.

In addition, he and his co-conspirators declared to run shops to offer items on a trading platform for Onecoin, consisting of homes, vehicles, land plots, gold, food supplements, cosmetic items, and clothing.

It is unclear whether Jumuang’s deceitful crypto plan is in fact linked to the notorious Onecoin Ponzi plan established by“Cryptoqueen” Ruja Ignatova The plan is stated to have actually generated around $4 billion around the world. Most of the leaders of the Onecoin plan have actually now vanished or been jailed. Ruja Ignatova vanished in 2017.

According to the Thai authorities, Jumuang at first paid dividends to financiers. However, when the overall quantity of financial investment reached 500 million baht as the variety of financiers continued to increase, he and his co-conspirators might not be called.

The victims consequently submitted problems with cops at numerous stations, and a warrant was provided for Jumuang’s arrest. He was jailed in May 2019 however was launched on bail. He later on leapt bail and another arrest warrant was provided for him. According to regional media, Jumuang has more than 14 arrest warrants. He left the law to live at a home in Bangkok where he was jailed Saturday.

What do you think of this case? Let us understand in the remarks area listed below.

Kevin Helms

A trainee of Austrian Economics, Kevin discovered Bitcoin in 2011 and has actually been an evangelist since. His interests depend on Bitcoin security, open-source systems, network impacts and the crossway in between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This short article is for educational functions just. It is not a direct deal or solicitation of a deal to offer or purchase, or a suggestion or recommendation of any items, business, or services.

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