[2018-11-07] Three Thai Siblings Accused of $24m Bitcoin Scam Plead ‘Not Guilty’

[cybersofts]

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



Three Thai citizens who are currently being prosecuted for allegedly swindling $24 million worth of Bitcoin (BTC) have pleaded “not guilty” in the Criminal Court of Bangkok, major Thai newspaper Bangkok Post reports Wednesday, Nov. 7.

During the hearings, Thai prosecutors accused the three defendants and six accomplices of defrauding 21-year-old Finnish investor Aamai Otava Saarimaa back in 2017. According to the investigation, he was persuaded to buy shares in Expay Software Co, invest in a gambling-focused crypto token Dragon Coin (DRG), and buy 500 million shares in DNA (2002) Co, which he consequently did by transferring crypto to the siblings’ wallets.

The prosecutors claim that after receiving the money, the Jaravijit family bought several blocks of land in Thailand. Saarimaa, in his turn, received no profit and later complained to the Thai Crime Suppression Division (CSD).

The three Jaravijit siblings, charged with conspiracy to defraud and money laundering, have recently pleaded “not guilty.”

Two of the siblings, Jiratpisit (a Thai actor known as “Boom”) and Supitcha, were arrested in August and then released on bail of $61,000 each. Their elder brother, Prinya Jaravijit, managed to flee to the U.S. in an attempt to avoid the charges.

However, in October, the Thai CSD revoked the Prinya Jaravijit’s passport — making his stay in the U.S. illegal — in order to force his return. After arriving in Bangkok, Jaravajit was then detained without bail and is currently being held in the Bangkok Remand Prison.


Source: https://cointelegraph.com/news/three-thai-siblings-accused-of-24-million-bitcoin-scam-plead-not-guilty

[Harlot]

They are really trying to test the waters here, with 24 million dollars in total value stolen this family will obviously have the prove to the court on how they bought several lands in their country. They need to show of course where the money came from and how did they earn it. This is an obvious way to know if they are lying and I think the court will use it against them. And of course the worst thing about this case is one of them could easily make a deal and confess to the crimes they really made.

[KryptoKai]

Proving the source of funds for property transactions is always going to be the sticking point for crypto. Proving that the money isn't laundered is a tricky one, unless they use monero which is fungible and can't be traced - although that might make it worse