Thai police have apprehended a suspect involved in an online loan scam that swindled a prominent national footballer out of nearly 2.7 million baht.
The suspect, identified as 45 year old Wanchai, confessed to managing mule accounts for the criminal gang.
The crackdown, led by Police Major General Jirawat Payoongtham, took place today, November 2, when cybercrime officers, directed by Police Colonel Adichat Amornpradit, arrested Wanchai near his residence in Nakhon Sawan. This arrest followed a warrant issued by Thanyaburi Provincial Court, dated February 19. Wanchai’s charges include conspiring to defraud the public and introducing false information into computer systems.
The case traces back to December last year when the victim, a well-known midfielder from the Thai League, sought a loan via an internet search. He stumbled upon a fraudulent website masquerading as a legitimate financial service provider. Enticed by the promise of a loan, the footballer clicked on a link and connected through a LINE account named RATCHAPHRUEK CAPITAL.
The victim expressed a desire to borrow 600,000 baht. The scammers then instructed him to follow a series of steps to process the loan.
The deceit unraveled as the footballer was directed to communicate with individuals posing as company officials. Throughout this process, he was coaxed into transferring various sums of money under the guise of procedural fees. These included a loan protection fee of 33,600 baht, a credit insurance fee of 33,600 baht, an AI verification fee of 98,500 baht, a credit retrieval fee of 49,250 baht, a CVV code reissuance fee of 208,000 baht, document renewal costs of 200,000 baht, an account modification fee of 235,000 baht, a credit top-up of 550,000 baht, and a credit refund fee of 89,000 baht.
The fraudsters demanded a final deposit of 1 million baht to verify his identity. Trusting the process, the victim transferred the amount. However, when the gang requested further funds, suspicion dawned, leading him to realise the scam. In total, he had transferred money 12 times, amounting to nearly 2.7 million baht, before reporting the incident to the cyber police.
Key suspect
Following the report, the investigative team from the Cyber Crime Analysis and Special Tools Division pursued leads that identified Wanchai as a key figure in the scam. His role was primarily to set up mule accounts to facilitate the fraudulent transactions. After gathering sufficient evidence, the officers obtained an arrest warrant and subsequently detained him.
In preliminary questioning, Wanchai admitted to his involvement, corroborating the investigators’ findings. He was then handed over to the investigators at the Cyber Crime Division for further legal proceedings, reported KhaoSod.
Frequently Asked Questions
Here are some common questions asked about this news
Why do cybercriminals target high-profile individuals in scams?
High-profile individuals often have substantial resources, making them lucrative targets for cybercriminals seeking significant financial gains.
How do mule accounts facilitate online scams?
Mule accounts act as intermediaries, obscuring the money trail and enabling criminals to launder funds without direct involvement.
What if the footballer had verified the loan site’s legitimacy earlier?
Early verification could have prevented the scam, saving him from financial loss and highlighting the importance of due diligence online.
How do procedural fees play a role in online loan scams?
Scammers use procedural fees to exploit victims’ trust, demanding payments under the guise of necessary processes to secure loans.
What measures can authorities take to combat online scams more effectively?
Authorities can enhance cybercrime education, develop advanced detection tools, and foster international cooperation to track cross-border scams.
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