Five More Arrested in Thailand Over Scam Funds Allegedly Converted Into Gold
Five More Arrested in Thailand Over Scam Funds Allegedly Converted Into Gold
BANGKOK, October 31, 2026 — Thai cyber police have arrested five additional suspects in two alleged scam-related money laundering networks, including individuals accused of converting victims’ money into gold before passing the proceeds to Chinese handlers.
The arrests were announced on November 2 at the Technology Crime Investigation Bureau Division 2 headquarters. Police said investigations were continuing to trace the financial transactions and identify Chinese financiers and other people allegedly involved in the networks.
Scam proceeds allegedly converted into gold
The first operation expanded on an earlier crackdown known as “Arresting Shadows Above Mule Accounts”, which resulted in eight arrests.
Police have since detained two additional suspects accused of controlling mule bank accounts: Apiwan, 33, who was arrested at her home in Bang Bua Thong district, Nonthaburi, and Thanphisit, 47, who was detained at Popular Condo in Pak Kret district.
Investigators alleged that the network impersonated employees of a mobile-phone company and officers from Mueang Ranong Police Station to deceive victims.
In one reported case, a student was allegedly threatened and tricked into transferring more than 2 million baht.
Police said the money was subsequently moved through mule accounts, with account holders allegedly instructed to purchase gold using the proceeds.
The gold was then reportedly sold to gold-smelting shops and converted back into cash to conceal the financial trail before the money was forwarded to Chinese handlers.
The two suspects face initial allegations of supporting public fraud, importing false information into a computer system, procuring or trading mule accounts, and jointly laundering money.
Three arrested over fake olive-tree sales scheme
In a separate investigation, cyber police arrested three more suspects accused of participating in an online fraud operation involving a fake Facebook page advertising olive trees for sale.
According to investigators, victims were persuaded to transfer money to participate in promotional discount activities. The system was subsequently locked, and victims were told to make additional payments to restore access.
Police said the scheme caused total losses of 6,481,165 baht.
The Nonthaburi Provincial Court issued arrest warrants for six suspects, three of whom have now been detained.
Those arrested were identified as Tingkorn, 38, accused of withdrawing cash; Khattiya, 35, accused of receiving cash; and Orauma, 31, accused of withdrawing money and converting it into gold.
They face allegations of jointly committing public fraud by impersonating another person and importing false information into a computer system.
Police said they would continue investigating both networks, tracing the movement of the money and pursuing other individuals suspected of involvement.
