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Man held for B500m crypto scam

BANGKOK: A 50-year-old man accused of duping Thais and foreigners into investing in cryptocurrency and later fleeing with over B500 million was arrested in Bangkok on Saturday morning (Dec 25).

crimepolicetechnology
By Bangkok Post

Sunday 26 December 2021, 12:07PM


Suspect Mana Jumuang (centre) reads a warrant shown to him by Crime Suppression Division officers who arrested him in front of a house on Ram Intra Soi 34 in Bang Khen district of Bangkok on Saturday. Photo: Wassayos Ngamkham

Suspect Mana Jumuang (centre) reads a warrant shown to him by Crime Suppression Division officers who arrested him in front of a house on Ram Intra Soi 34 in Bang Khen district of Bangkok on Saturday. Photo: Wassayos Ngamkham

Mana Jumuang was arrested in front of a house at Ram Intra Soi 34 in Bang Khen district, said Pol Maj Gen Montri Thetkhan, commander of the Crime Suppression Division (CSD), reports the Bangkok Post.

Mr Mana was wanted on an arrest warrant issued by the Phichit Provincial Court on Dec 23 for colluding in public fraud.

The suspect allegedly colluded with Thai and Vietnamese accomplices to swindle people in 2018 and 2019 by claiming to be digital currency traders, said Pol Maj Gen Montri.

Mr Mana claimed to be a cryptocurrency guru and promised high returns to attract victims. He once told them that if they invested for just 200 days, they could earn a 400% return, said the CSD chief.

The perpetrators persuaded people to invest in a digital currency called Onecoin and claimed they ran stores to sell goods on a trading platform for the currency. The goods on offer included everything from houses, cars and land plots to gold, food supplements, cosmetic products and clothes.

Internal - Phuket Live Radio 89.5

With promises of high and attractive returns in the form of gold, Mercedes-Benz sedans and houses, many people, both Thais and foreign nationals, invested with the suspect, said Pol Maj Gen Montri.

During the initial stage, the suspect paid dividends to investors. But as the number of investors kept rising and the amount invested totalled B500mn, the suspect and his colleagues could not be contacted.

The damaged parties filed complaints with police at several stations. A warrant was issued for Mr Mana’s and CSD officers caught up with him in late 2019.

He was brought to court and released on bail but later jumped bail and another warrant was issued for his arrest, said the CSD commander.

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Pooliekev | 30 December 2021 - 13:52:49

Fools and their money are easily parted.

Capt B | 28 December 2021 - 14:21:37

Whats really amazing, after all this time the Bulgarian OneCoin Criminal Scum are still operating.

Foot | 27 December 2021 - 12:35:37

As was once said .... "You can't cheat an honest man."

Capt B | 27 December 2021 - 07:04:47

I got screwed by OneCoin to the tune of EUR 124K. Currently taking legal action against "The Crypto Queen". A lot of the stolen funds were laundered in Bitcoin in the Seychelles etc etc. Just do a search on Jonathon Levy OneCoin & all will be revealed.

 

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