Thai Police Arrests the Prime Suspect $24 Million Bitcoin Fraud Case

Oct 12, 2018 at 17:30 Update Date :Oct 12, 2018 at 17:30 UTC

The mastermind of the Bitcoin fraud in which a Finnish investor lost around 5564 BTCs has been arrested by the Thai Police.

On October 11, the suspect, Prinya Jaravijit, that led Finnish national Aarni Saarimma to loss of $24 million US dollar (which is approximately 797 million baht) was arrested at the airport of Bangkok. The suspect was living in the U.S. before he was arrested. The mastermind left the U.S. after the arrest of his younger brother, who is a Thai television actor, Jiratpisit Jaravijit, who in the past was implicated in the conspiracy.

As per the investigation of Thailand’s Crime Suppression Division, the suspect, on Friday, was taken to the court where he faced objections by the police to his bail. The suspect faced charges of fraud and money-laundering.

The police arrested the culprit after giving surrender orders nearly a month before. Prior to surrender orders, the suspect was ordered to avail himself on September 14 for interrogation.

Chakrit Sawasdee, Deputy Commander of the Crime Suppression Division, said that Prinya was ordered to come on Monday and warned that if he ignores it, crime agencies will bring him to prosecution.

Prinya’s passport was cancelled by Thailand’s foreign ministry. He was staying in the U.S. without a valid passport that would lead to more charges against him. While his travel back to Thailand was organized by the Thai embassy.

Prinya and his associates accused of inviting the investor in investments that includes publicly listed companies that had roped in a stock trader. Suspects’ list includes most of his family members. This happened after Saarimaa reached a settlement.

Other members of family suspected in the case include younger sister Suspitcha. Suspect’s parents and brother are asked to appear in the court on money laundering charges.

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