Thailand Police Arrested Bitcoin Scammer

Thailand Police arrested Prinya Jaravijit after he returned to Thailand. Jaravijit is the main suspect in $34 million Bitcoin scam that happened in early August.

Bitcoin Scam

Prinya Jaravijit was a part of bitcoin scam that costed Aarni Otava Saarimaa from Finland more than 5500 BTC.

At that time, 5500 BTC was worth about $24 Million USD and it’s current value is around $34 Million USD.

Aarni believed that he was investing in another cryptocurrency, Dragon Coin and few other companies that were listed on Stock Exchange in Thailand.

However, it turned out that Prinya Jaravijit and his team did not invest funds as agreed, but stole most of it.

Arrested At The Airport

Bitcoin Scammer arrested at the airportAfter he returned to Thailand, Prinya Jaravijit was arrested by the police at the airport. He is currently being charged for fraud and the attempt of money laundering.

It looks like few other members of Prinya Jaravijit’s family were involved in the bitcoin scam. There are rumours that Prinya’s parents received part of the funds from Prinya. According to the Bangkok Post Prinya’s parents and his older brother were also investigated in regards to this case.

Charges were withdrawn against stock trader Prasit Srisuwan and Expay shareholder Chakris Ahmad last month after a settlement was reached.

Bitcoin Investing

This is just another example of bitcoin related scams and how investors should approach things with more caution. You should always get as much information from verified sources as you can before you decide to invest your funds.

News about scams like this one are potentially effecting Bitcoin price and cryptocurrency popularity. Usually, when there are negative news, about bitcoin related scams, prices can be effected as well.

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Bitcoin News Trader is keeping an eye on the bitcoin related news and uses it’s algorithms to enable traders to make profit when the bitcoin price is going up or down.