BANGKOK – Technology Crime Suppression police have arrested six people over an investment scam that falsely claimed support from US President Donald Trump and promised returns of up to 20 times the original sum.
Pol Maj Gen Thatphum Jarupat, commander of the Economic Crime Suppression Division (ECCD), said officers carried out raids in Khon Kaen, Amnat Charoen, Ubon Ratchathani, Pathum Thani, Nonthaburi, and Bangkok on Thursday.
The main suspect, Athinath (surname withheld), 57, was arrested along with five alleged accomplices under warrants for fraud, deceptive lending, and uploading false data to computer systems.
During the raids, police seized eight mobile phones, three laptops, a tablet, 22 bank books, 33 foreign authorisation documents, and a claimed US$783.8 million “unblocking” certificate said to bear Mr Trump’s signature.
They also seized a certified document from HSBC Bank, China, showing a balance of US$900 billion to establish credibility, offering returns of up to 20 times the investment over three months.
The group promoted a fake Nigerian oil fund investment, drawing more than 13 million baht from victims. Investigators later found that all documents were forged. The money was moved through 22 bank accounts, and some of it was converted into digital assets.
The suspects would hold fundraising events at hotels in various provinces. They would then invite victims to join a LINE investment group and hold weekly online fundraising meetings, claiming taxes, fees, and international legal fees. Some victims were left penniless and forced to borrow money to continue investing, citing regrets over their losses.
In a separate case, Technology Crime Suppression police detained four suspects in Bangkok linked to another online investment scam, allegedly run for a Chinese organiser.
The suspects were named as Chaiyarin, 29, Warunee, 28, Siripatsorn, 34, and Peeraphong, 38. They face charges of fraud, inputting false information into computer systems, conspiracy, and money laundering.
According to police, the group operated a fake Facebook page called “Matcha Chatramue” to draw people into Line chat groups with about 350 members. They then persuaded those members to invest in bogus schemes.
Mr Chaiyarin and Ms Siripatsorn worked as cash withdrawers, earning between 1,000 and 1,500 baht per day.
Mr Peeraphong and Ms Warunee admitted that they helped organise the scheme. They told police they were paid by a Chinese boss known as “Amu” to recruit mule accounts and cash withdrawers, with stolen funds converted into USDT.
Thailand has become a major base for investment fraud in 2025, helped by its strong digital networks, tourism appeal, and proximity to scam centres in neighbouring Myanmar and Cambodia.
A report from the Global Anti-Scam Alliance (GASA) found that investment scams affected 66% of scam victims in Thailand, causing national losses of more than 115 billion baht each year, or about 3.4 billion US dollars.
Fraudsters often tempt victims with high-return offers promoted through social media, fake investment apps, and cryptocurrency platforms, targeting both Thai citizens and foreigners. The Royal Thai Police (RTP) logged over 166,000 cybercrime cases in the first half of 2025, and a large share involved investment scams.
The impact has been severe. Around 60% of Thais were scammed in the past year, losing an average of 12,956 baht per person. Young people are at clear risk, with 27% of parents reporting that children aged 7 to 17 had been targeted. Foreigners are also frequent victims, with stolen money often laundered through property deals or unregulated exchanges in Thailand and nearby countries.
