Three Thai Siblings Accused of $24 Million Bitcoin Fraud Plead ‘Not Guilty’

Article by · November 7, 2018 ·

Three citizens of Thai presently under prosecution for supposedly involving in $24 million worth of Bitcoin (BTC) fraud have pleaded “not guilty” in the Criminal Court of Bangkok, according to a report by major Thai newspaper Bangkok Post Wednesday, Nov. 7.

While the hearings were ongoing, Thai prosecutors accused the three accused and six accomplices of swindling cash from a 21-year-old Finnish investor called Aamai Otava Saarimaa since in 2017. The investigation reveals that the victim was convinced to purchase shares in Expay Software Co, fund a gambling-focused crypto token Dragon Coin (DRG), and also purchase 500 million shares in DNA (2002) Co, which he subsequently adhered to by sending crypto to wallets of the siblings.

According to the prosecutors, the Jaravijit family purchased numerous blocks of land in Thailand following the receipt of the money. On the other hand, Saarimaa did not receive any profit and thereafter reported to the Thai Crime Suppression Division (CSD).

The three Jaravijit brothers accused with conspiracy to swindle and money laundering just recently pleaded “not guilty.”

Jiratpisit (a Thai actor known as “Boom”) and Supitcha, two of the siblings were arrested in August and were bailed with the sum of $61,000 each. Their elder brother, Prinya Jaravijit, who is the eldest brother among the three was able to escape to the U.S. so as to dodge the charges.

But, the Thai CSD invalidated the Prinya Jaravijit’s passport in October, thereby making his stay in the U.S. against the law so as to force his return. Jaravajit was kept under custody without bail following his return to Bangkok and is presently being detained in the Bangkok Remand Prison.

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