A Singaporean man, 32, was part of a group that created an application resembling cryptocurrency platform Tidex. He allegedly opened digital wallets to store money from his victim, according to an arrest warrant issued by Bangkok’s Phrakhanong Criminal Court, The Straits Times reported.
The fake application managed to persuade people to transfer over 22.4 million baht. At least 17 money transfers had been made without any actual investments being made, Thai police said.
13 people in four Thai localities: Bangkok, Chiang Rai, Rayong and Phuket have been arrested by the police for their involvement with the ring, Thailand’s Central Investigation Bureau said on Dec. 3. Among them were Chinese, Thai, Singaporean and Vietnamese people, The Star reported.
A luxury house, cars and land title deeds valued at over 14 million baht had been seized by the police.