Thai police said today that 13 foreigners, mostly Australians and Britons, have been arrested for organizing an online investment scam that defrauded people of at least $1,2 million.
Police said the Australian Federal Police (AFP) notified Thai authorities last year of a fraud ring led by an Australian and a Briton, and a joint investigation was launched.
The alleged fraudsters operated from Thailand to scam victims in Australia and other English-speaking countries through online advertisements and phone calls to entice them to invest in long-term bonds with the promise of big profits.
Senior AFP officer Christy-Lee Cressey said at least 14.000 Australians had fallen victim to this scam.
Police said they had been monitoring a rented house in Samut Prakan province for several months and had seen the men coming and going at times that coincided with working hours in Australia. They said they had confiscated numerous phones, computers and other electronic devices allegedly used in the scam.
"The group has raised at least A$1,9 million ($1,2 million) from Australian victims in the short time it has been operating," said Lee Cressey.
Australian authorities believe the two ringleaders had been running the scam for years and operated in several countries, including Indonesia, where they evaded arrest before being found in Thailand. Immigration officials said they entered Thailand on various types of visas, including retirement and education visas.
Police said they were initially charged with racketeering and operating in Thailand without a permit. Further investigation could lead to more serious charges, including fraud and involvement in transnational organized crime.
A UN report in April said that transnational organized crime groups in East and Southeast Asia are expanding their lucrative fraud operations.
Bonus video:
