RTP seize 7.9 million baht assets from hybid-scam network

In a sweeping operation dubbed “The Purge,” Royal Thai Police (RTP) officers from Mueang Thong Thani, in collaboration with relevant agencies, made significant strides in the battle against transnational crime on April 17. RTP officers seized assets worth over 250 million baht (US$7.9 million) from hybid-scam networks, a substantial blow to these criminal operations.

The hybid-scam network involved tricking unsuspecting victims through social media platforms, persuading them to invest in cryptocurrency trading. The catch was that the victims had to transfer their money into so-called mule accounts to convert it into digital currency for trading on bogus platforms, said one of the officers involved in the operation.

“The victims were not aware that they were being duped. The platforms were fake, and their investments were simply siphoned off by the criminals.”

As investigations unfolded, the cyber police identified a prime suspect: Shaoxian Su, a Chinese national, and his accomplices. They also discovered links to Thai nationals who acted as nominees, investing in various assets, including real estate, under Thai identities.

This discovery led the police to further intensify their operations. Under the banner Trust No One, they searched 72 locations across Thailand, apprehending three Chinese nationals. Luxury condominiums, sports cars, cash, and other assets totalling over 1.9 billion baht (US$60 million) were seized from these locations, said the officer.

“Upon investigation, we found financial activities tied to Singaporean individuals also involved with the Hybid-Scam network.”

The Purge operation was a resounding success, with over 26 individuals implicated in the scam. The RTP secured arrest and search warrants to bring these individuals to justice, reported Pattaya News.

Furthermore, the authorities reported that the hybid-scam network was also connected to transactional crimes in call scams and online gambling networks. These networks, it was found, had a financial turnover of 30 billion baht (US$947 million) per year.

This operation marks a significant victory in the fight against transnational crime.