Crypto Millionaire Lost 5,500 Bitcoins in Alleged Investment Scam
Last year in June, some group of citizens of Thailand enquired with Aarni Otava Saarimaa, a Finnish businessman, and proposed to invest in stocks, casino in Macao, and a new cryptocurrency titled Dragon Coin
More than 5,500 Bitcoins were lost in the alleged investment scam for the crypto millionaire from Finland. The scam was organized in Thailand and was disclosed to public due to some participation of a famous Thai movie star.
The report was provided by the Bangkok Post. Last year in June, some group of citizens of Thailand enquired with Aarni Otava Saarimaa, a Finnish businessman, and proposed to invest in stocks, casino in Macao, and a new cryptocurrency titled Dragon Coin.
The group alleged that the Dragon Coin could be used in the casino after release. They also brought Saarimaa to the casino in Macao to approve their messages. Saarimaa believed that the scheme was credible and transferred 5 564 BTC to scammers. However, later there were no revenues within the next few months after investments, and, eventually, Saarimaa made a complaint to Thailand's Crime Suppression Division (CSD) together with one of his Thai partner, who was entirely sure that the investment plan was a complete scam.
CSD started an investigation and revealed that the group did not make any investments on behalf of Saarimaa; instead, all Bitcoins were exchanged to Thai Baht and deposited into seven banking accounts, according to the investigation report. It is unknown, however, when scammers sold crypto, but CSD stressed that they received revenue of 800 M Baths, or $24 M.
In a month after the investigation was initiated, CSD started suspecting an actor Jiratpisit «Boom» Jaravijit, who allegedly was involved in the scheme and arrested him last Wednesday. Besides, CSD claims that actor’s relative, Prinya Jaravijit could be an initiator of the scam. However, the latter had left Thailand and travelled to the U.S. through South Korea. Currently, CSD works together with the U.S. authorities to track the lead suspect.
Recently, another investment scam happened in Vietnam with crypto involved. The head of mining startup disappeared with $35 of clients’ investments. He apologized in Facebook and explained that his quick departure is due to an attempt to save his life. Investors of the scam company Sky Mining, of which the scammer was in charge, signed a petition seeking for the extradition of the culprit. However, their attempts have mere chances for success since the U.S. and Vietnam have not signed an extradition treaty.
Another loud scam happened in India. There, politicians of a large party were accused in scams with Bitcoins worth of $736 M. Investigators presume that the scam is related to Bitconnect pyramid that is practically dead already.
As crypto-criminals become more and more active all around the globe, 5 countries have developed mechanisms to fight global financial scams involving crypto. Taxation authorities of the U.S. and the U.K. agreed to take charge of the international alliance with aim to fight global crimes in the field of finances, including operations with BTC and other cryptocurrencies.
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