Police from the Cyber Crime Investigation Bureau (CCIB) raided about 20 locations in Bangkok today (Wednesday), to crack down on a major crypto currency trading scam, which has allegedly cheated many investors out of billions baht.
The police arrested the couple on fraud charges and seized more than a million baht in cash in their possession at a luxury residence in the Srinagarind area.
Police also raided 10 other houses in the same estate, each of which is estimated to have cost between 35 and 60 million baht.
Land title deeds for all the houses and condominium units in the Sukhumvit area, which were also seized by the police, are estimated to be worth about 200 million baht, according to the CCIB.
The coordinated raids follows complaints filed with the CCIB by investors, who claim that they were lured by online scammers to invest in fake crypto currency trading platforms, which promised easy and lucrative profits.
Police say that the dozens of victims include two from the United States and one from Britain.
