On August 10, CryptoGlobe reported on the alleged theft of $25 million worth of bitcoin belonging to a Finnish investor. Two weeks after the arrest of Jiratpisit Jaravijit, the main suspect in the case, the National Post reports the Thai police are about to take their investigations to the next level.
As covered, it is alleged that Jiratpisit Jaravijit, a soap opera actor, along with his siblings and other suspects, tricked the Finn to send funds to invest in Expay Software Co. and a cryptocurrency-investing company. Subsequently, the bitcoins were converted into the local currency and deposited into accounts by the perpetrators.
It has since been found out that the funds were deposited into 51 bank accounts owned by 7 individuals. have also uncovered documents that show that Jaravijit actually bought shares in said companies. Other documents also show the actor and his siblings bought land near the Thai capital with the funds. The accused has, however, denied having acquired the assets.
New information now suggests some of the Finn’s money was to be invested in casino in Macau. He is said to have been promised huge returns from said investments as well.
According to details found in court documents, the young actor and his accomplices are being accused of money laundering and fraud involving $25 million worth of bitcoins received from Aarni Otava Saarimaa, the 22-year-old plaintiff from Finland.
Saarimaa, after several fruitless attempts to get the suspects to send him the returns on his investments, filed a complaint in January. Chonnikarn Kaewsalee, Aarni Saaremaa's Thai business partner helped file the complaint.
Warrants have also been issued for the arrest of the main suspect’s accomplices and siblings. Parinya Jaravijit, the actor’s elder brother has since eloped from the country. Police have also made it clear they would be querying more suspects in the case.
Controlling Thailand’s Crypto Space
In a bid to have more oversight and control over the rapidly growing crypto space, the Thai government imposed new crypto regulations in March. Industry specialists have, however, said there hasn’t been any strict enforcement of these new laws.
The governor of the Bank of Thailand, after clarifying the fraud case was about “misuse of money” and not crypto trading, told citizens to avoid jumping into crypto investments without first studying the basics of crypto investments.
It’s crucial that anyone who wants to invest in high-risk assets such as digital currencies and bitcoin educate themselves and fully understand it