OAG ready to seize 597 million baht from Chinese gang’s assets

In a significant move against financial crime, the Office of the Attorney General (OAG) is primed to seize assets amounting to nearly 596.58 million baht (US$16 million), previously impounded from a prominent Chinese gang on December 7, as stated by Wirun Chanthananan, the director-general of the OAG’s Department of Special Litigation (DoSL).

The Anti-Money Laundering Office (AMLO) has a timeframe of 90 days since the initial freezing of the assets by the secretary-general, pending further investigation, to officially proceed with the confiscation. This implies a deadline of March 5, reported Bangkok Post.

Exercising his authority under the OAG’s regulations on civil case prosecution, Wirun designated a team on Tuesday, charged with the responsibility of confiscating the assets. Nirad Nantalit, the head of DoSL’s Division 3, will lead this team, which also includes two other high-ranking OAG prosecutors, Phanthip Khunthong and Chantha Damrongrat.

The assigned team will draft an asset confiscation petition and present it to the court, requesting permanent seizure of all the temporarily held assets, according to Wirun.

This action comes as a recommendation from the AMLO following their detailed investigation into the gang’s financial dealings, revealing their involvement in several cryptocurrency scams totalling 129 million baht. Furthermore, the gang was found to have laundered the illicit funds in Thailand and beyond.

Throughout its investigation, Amlo traced 3,390 assets, roughly valued at 8.7 billion baht, held by the gang and several associated individuals, Wirun revealed.

The investigation was initiated in response to legal action taken by the Technology Crime Suppression Division (TCSD) against 13 suspects connected to the Chinese gang, with Xu Qi identified as the ringleader.

The Thai and Chinese suspects named in the TCSD’s probe include Chakrina “Kiki Maxim” Chukhaosi, Li Lo, Atchara Lao-ketkam, Suphawini Phet-iam, Natthinan Phao-chit, Sawitri Angkhabut, Phatsara Lao-ketkam, Lawan Thawi-aphiradipun, Sumali Sae-phung, Xu Qi, Cai Pengfei, Zhang Jie, and Bian Qi.

According to the TCSD, the suspects allegedly lured individuals into investing in a counterfeit cryptocurrency venture operated via an online application named Cboe Global Markets.

The exposure of the gang’s activities was triggered by a wave of complaints from scam victims in Thailand to the TCSD.

Furthermore, the TCSD discovered links between the gang and Chinese call centre gangs operating in Thailand and other countries.

In related news, the Economic Crime Suppression Division (ECD) arrested 26 suspects, including four Chinese leaders, for running a fake gold shop and investment scam, seizing cryptocurrency and assets related to the scheme.