BANGKOK — Three Chinese nationals were arrested in connection with cryptocurrency fraud as part of a citywide sweep on 25 locations across Bangkok, police said Tuesday.
Zhang Han Lin, 54, and his wife, Zhou Lu, 29, were arrested at a hotel in Rama IX area, while another suspect, Liu Jiayu, was arrested in a separate raid in Soi Sukhumvit 101, cybercrime police commander Worawat Watnakhonbancha said.
Pol. Lt. Gen. Worawat said the raids were part of what they called “Operation Trust No One.” an ongoing investigation into a cryptocurrency scam network that swindled over 10 billion baht from victims across the globe. Under the scheme, the scammers would use fake profiles to lure victims into investing in fraudulent cryptocurrency exchanges and other digital assets.
Police said the suspects were paid to launder cryptocurrency stolen from the victims and convert them into cash.
In the raid on a hotel in Rama IX area, police seized four million baht in cash, condominium title deeds, three luxury cars, luxury handbags, and over 100 sacks, which police said would be used to smuggle money out of the country. Chinese, Cambodian and Vanuatu passports were also found in the room.
