Chinese scam boss arrested in Thailand with millions in crypto transactions
A Chinese scam boss was arrested in Thailand with millions in crypto transactions.
Wei Huang allegedly acted as a financier for the cyber fraud network before he was arrested at a house in Chiang Mai, northern Thailand, on August 17.
Officers seized cash, a Ford Ranger Raptor pickup truck and an Audemars Piguet watch, and froze the funds in his bank accounts. The assets were handed over to the Anti-Money Laundering Office.
Wei was detained and charged with joint money laundering and conspiring to commit money laundering.
Police today, September 16, announced the results of the raid, which is part of the 'Highway Scam Hunter EP4' operation.
They said 26 suspected fraudsters who had caused more than four billion baht in damages have been arrested in the crackdown.
The operation was launched after a former civil servant lost 1.4 million baht in a cryptocurrency scam.
Officials then dismantled mule account networks as they traced the money laundering scheme through stock trading applications and language school accounts.
The expanded investigation led to arrest warrants being issued for two Chinese masterminds, Ah Tao and Lao Chong, and Police Captain Nov Sopheak, a Cambodian police officer.
Authorities said the network operated with a systematic division of roles, comprising call-centre scammers who defrauded victims and money-laundering units.
They converted the funds into off-exchange USDT cryptocurrency tokens before transmitting them back to the source.
As for Wei, he was a allegedly financier and seller of USDT crypto to Ah Tao's group.
Police Colonel Phakaphon Suchon, superintendent of Highway Police Sub-Division 2, said Wei's financial trail was linked to more than 16 online fraud cases, with circulating cryptocurrency transactions reaching more than 7.2 million USDT, or 238 million baht.
He added: ‘We charged him with money laundering and conspiring through an agreement between two or more persons to commit the offence of money laundering.
‘Further investigations are being expanded into the financial trails and network connections to prosecute accomplices, as well as trace assets derived from the offence for further legal proceedings.'
Thailand has become a notorious base for Chinese crime gangs operating fraud and human trafficking operations in neighbouring Cambodia, Laos, and Myanmar.
Many operate from heavily guarded compounds in remote border regions, generating billions through fraud schemes targeting victims worldwide.
