Home » Thai Man Arrested Over $16 Million Crypto Scam

Thai Man Arrested Over $16 Million Crypto Scam

A Thai man has been arrested for involvement in a crypto scam scheme that fleeced investors for 500 million baht (over $16 million).
news - Thai Man Arrested Over $16 Million Crypto Scam

A Thai man has been arrested for involvement in a crypto scam scheme that fleeced investors for 500 million baht (over $16 million).

Mana Jumuang, 48, who dubbed himself the “cryptocurrency wizard”  was arrested as participant of a scheme which encouraged people to invest in cryptocurrencies, but after providing initial returns, disappeared with the money.

Victims of the scheme came from possibly more than 10 Asian nations, including South Korea and Vietnam, the report indicates.

The group of fraudsters included three Thai nationals and four Vietnamese. Police are still seeking two of the Thai members, while the Vietnamese have left the country. Mana is said to have spent some of investors’ money on land purchases.

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As previously reported, the kingpin of a bitcoin scam worth Rs 485 crore ($67 million) has been tortured to death by five of his associates in Dehradun, India. The attackers were beating Abdul Shakoor till he fell unconscious and left the body at the emergency ward of a private hospital here on Thursday night before fleeing. 

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