Foiled in gold: Chinese-led scam gang’s Aurora of deception comes to light
A Chinese-led gang operating an elaborate gold investment scam, falsely using the name of a trusted jewellery manufacturer, Aurora Design, has been busted by Thai police. The scheme is reported to have an estimated 1.2 billion baht in circulation.
Over the past week, police conducted raids on 21 locations across Bangkok, Chon Buri, and Chiang Mai, arresting 26 suspects, among whom six were Chinese nationals. The total number of suspects in the case is believed to be 50, according to Central Investigation Bureau chief, Jirabhop Bhuridej.
The fraudulent operation was based in Thailand, and run by four Chinese nationals, 48 year old Liu Aixia, 38 year old Huabiao Long, 29 year old Xiao Yangfeng, 28 year old Wang Liang, and a 44 year old Thai woman, Chansuk Sakuna. Two other Chinese suspects were also involved but are yet to be named.
The gang operated by creating a counterfeit Facebook page under the name of Aurora Design, promising high investment returns of 20 to 30%.
When investors attempted to withdraw their profits, they were abruptly blocked, and all communication ceased. Despite the evidence, most of the arrested suspects have denied all charges. Police have seized cryptocurrency worth approximately 28 million baht from the suspects for further investigation.
The operation was cleverly structured, with Thai intermediaries running three decoy companies to process the gang’s funds. Victims’ money was funnelled through three layers of Thai mule accounts before it reached foreign accounts, said Jirabhop Bhuridej.
“The funds were then used in Thailand and for purchasing goods abroad. The goods were then shipped to Cambodia and Laos, where they were sold for cash. The victims’ money was also used to buy into cryptocurrencies or to buy property.”
Unlike typical call scams originating from neighbouring countries, this operation was based within Thailand, making it a unique case. Investigations into the matter are ongoing, reported Bangkok Post.
In related news, police arrested six Chinese men for selling fake gold to rich Thai people resulting in a profit of more than 10 million baht. The suspects were reported to be former members of a scam call centre gang based in Indonesia.
The gang confessed that their criminal act was inspired by a television series about scammers. Read more about this story HERE.
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