Young Crypto Millionaire Loses Over 5,500 Bitcoins in Alleged Investment Scam
A 22-year-old Finnish crypto millionaire lost more than 5,500 bitcoins (BTC) in a fraudulent investment scheme in Thailand. The scam drew a lot of public attention due to the alleged involvement of a famous Thai actor.
Aarni Otava Saarimaa was approached by a group of Thai people in June 2017 with a plan to scam a fortune from him.
Saarimaa was convinced to send a certain amount of money in Bitcoin to a number of addresses that were linked to the companies within the business venture. The fraudsters claimed that upon issuance, the new cryptocurrency could be used at the casino. What more is that they even brought the millionaire with them to the casino to prove the legitimacy of their project.
Saarimaa believed he was investing in shares of three companies, a casino and a new cryptocurrency called Dragon Coins, but after seeing no returns at all, his business partner Chonnikan Kaeosali filed a complaint to the CSD.
The CSD then launched an investigation and alleged in its investigation report that the group did not make any investments for the businessman, but instead chose to liquidate all bitcoins into the local currency and deposited the fund into 7 different bank accounts.
The fact that bitcoins were involved did complicate matters for the investigators, though. “We had to carefully examine documents and trace the money trail (…) it took us almost seven months to get approval for the arrest warrants for the first group,” CSD deputy commander Pol Col Chakrit told Bangkok Post.
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