Thai police say 125 million baht in assets seized from two gambling sites linked to a cryptocurrency fraud scheme will be returned to the victims.
Late last year, officers from the Cyber Crime Investigation Bureau (CCIB) raided two betting websites ufabet-JC and plat.beer777 and seized 117 million baht in cash and luxury cars worth about 8 million baht.
At a recent media briefing attended by the Anti-Money Laundering Office (Amlo) and the Ministry of Digital Economy and Society, CCIB Commissioner Lieutenant General Pol Worawat Watnakhonbancha announced the arrests of numerous individuals related to these illegal enterprises.
The CCIB received complaints from five individuals who lost 527 million baht after being caught up in a fraudulent cryptocurrency scheme in a gaming network crackdown.
After a thorough investigation, investigators were able to trace the source of funds to the online gambling sites, revealing a complex web of illegal activity.
The CCIB chairman claimed that international criminal organization money laundering suspect Kanniphit was also involved in funding cryptocurrency fraud networks.
As the investigation progressed, arrest warrants were issued for 23 suspects on charges of conspiracy to commit public fraud, entering false information into a computer system and money laundering.
CCIB has reported the asset seizure to Amlo. Pol Lt Gen Worawat said seized assets worth 125 million baht will be returned to fraud victims.
Advisor to the Minister of Digital Economy and Society Sutthikiart Veerakitpanit authorities will expedite the process to return the seized assets to the victims to alleviate their problems.
Witthaya Neetitham, head of Amlo's legal department, admitted that the seized funds are currently being assessed and assured that a formal notification regarding the release of these funds to fraud victims will be published in the Royal Gazette.
