Popular Thai Actor Pleads Not Guilty To Crypto Fraud

A popular Thai actor has been arrested in conjunction with a massive cryptocurrency scheme that netted hundreds of millions of Baht, Thailand’s native currency. The actor, Jiratpisit “Boom” Jaravijit, and his two siblings, Prinya and Supitcha, are accused of defrauding a 21-year old Finnish Bitcoin investor of $24 million (797 million baht). The actor and his siblings plead not guilty to the charges in the Criminal Court of Bangkok.

The siblings reportedly convinced Aamai Otava Saarimaa to invest into three Thai companies, a casino, and Dragon Coin, an entertainment token. However, it appears that the siblings instead used the funds to invest in Thai real estate. Saarimaa then notified Thailand's Crime Suppression Division (CSD).

The assets, including both bank accounts and land plots, were seized by Thailand’s Anti-Money Laundering Office and are expected to be confiscated for 90 days.

Both Supitcha Jaravijit and Jiratpisit Jaravijit were arrested in August and released on bail. Prinya, the eldest and alleged mastermind of the fraud, is currently held in the Bangkok Remand Prison without bail after fleeing to the U.S and being forced to return after his passport was revoked.

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