Undercover Thai police expose ‘black dollar scam’ operated by 4 foreigners
Police arrested four foreign nationals in Bangkok after uncovering a “black dollar scam” that targeted wealthy investors by claiming ordinary paper could be turned into genuine US dollar banknotes using special chemicals.
Officers from the Metropolitan Police Bureau were conducting a crackdown on foreign drug-dealing networks in Soi Nana when the investigation led them to a group suspected of operating the black dollar scam.
According to police, investigators learned that the group targeted affluent people attending luxury events. Undercover officers therefore posed as wealthy investors and attended a high-end automotive exhibition where the suspects were reportedly seeking potential victims.
Police said the suspects approached the undercover officers and claimed they had earned money from illegal businesses overseas. They alleged that about US$6 million (approximately 200 million baht) in cash had been seized by customs officials.
The group told the undercover officers that the banknotes had been coated with chemicals and could be restored to normal. They claimed they needed 150,000 baht to pay customs officials to recover the cash and asked the undercover officers to provide the money in advance.
According to police, the suspects promised the undercover officers 40% of the recovered funds in return for the payment. They later arranged another meeting to demonstrate the process they claimed could restore the banknotes.
During the meeting, the suspects produced white sheets of paper cut to the size of US dollar bills, then washed them with a chemical solution, making them appear to be genuine banknotes.
Police said the demonstration confirmed the fraud, prompting undercover officers to identify themselves and arrest the suspects.
Searches were later carried out at accommodation in the Lasalle and Hua Mak areas of Bangkok. Officers seized about 60,000 blank paper sheets, counterfeit US dollar banknotes and chemical substances believed to have been used in the operation.
According to investigators, the group used iodine tincture to conceal genuine US dollar banknotes, making them appear blank. They then washed the notes with a solution containing vitamin C dissolved in water to restore their appearance, falsely claiming the process required a special chemical.
The four accused were identified by police as 35 year old Liberian national Remy, 40 year old Liberian national David, a 35 year old Cameroonian woman and a 21 year old Cameroonian woman.
Police said Remy denied the allegations, claiming he could not remember committing any offence. David allegedly admitted the group intended to defraud the undercover officers. The statements of the two Cameroonian women were not disclosed.
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