A Thai actor allegedly got involved in a crypto scam in Thailand that drew public attention and motivated a 22-year old millionaire of cryptocurrency to invest more than 5,500 bitcoins only to lose it in future.
The crypto scam
Back in June 2017, the Finnish businessman Aarni Otava Saarimaa was approached by a group to talk about profitable investments in a casino in Macau, several Thai stocks and Dragon Coin – a new cryptocurrency. The group claimed that Dragon Coin could be used at the casino when issued publicly. The businessman was also taken across the casino in Macau so that he could believe in the authenticity of the project. He was bought into the scheme by transferring a sum of 5,564 bitcoins to the group. In January 2018, Saarimaa filed a complaint to Thailand’s Crime Suppression Division (CSD) as he didn’t see any returns a month post his investment. His local business partner completely believed that the investment plan was a scam. And thus, even he approached the CSD for the complaint registration.
During the investigation, the CSD alleged that no investment had been made in the name of Saarimaa. Instead, all the bitcoins were converted into the local Thai baht and deposited into seven bank accounts. It is still unknown as to when the bitcoins were converted into currency by the fraudsters. However, one report alleges that the group made an approximate of $24 million by the bitcoins.
Moreover, popular Thai actor Jiratpisit “Boom” Jaravijit’s was also arrested on Wednesday for his alleged involvement in the scam. CSD is now collaborating with the US authorities to track the primary suspect.