BANGKOK – The Thai police say they have busted a 1.2 billion-baht online gold investment scam run by four Chinese nationals and 22 Thai accomplices.CIB investigators raided some locations in Bangkok and other Thai provinces, carrying arrest warrants for 50 suspects. They arrested 26 of the suspects and seized 30.9 million baht of assets.
The gang members allegedly used fake Aurora Gold Trading Facebook pages to lure victims into investing and promised high returns of 20 per cent to 30 per cent. When the victims found that they could not withdraw their money, the gang gave various excuses before blocking them from the pages.
In one of the methods, the gang would buy goods such as fertiliser, air-conditioners and auto parts, and use a nominee firm to export them to Laos and Cambodia.