Thai authorities have arrested a South Korean citizen accused of laundering 1.6 billion baht (~$50 million) for a call center gang. He exchanged cryptocurrency for gold bars.
Officers from the Technology Crime Suppression Division and the Immigration Bureau detained the suspect upon his arrival at Suvarnabhumi Airport.
A 33-year-old citizen with the surname Han is suspected of fraud, impersonating another person, and money laundering.
The case is linked to a wave of phone scams, complaints about which began to be reported to the Thai police in February 2024. People were lured by 'investment opportunities' promising returns of 30–50%.
Initially, victims were paid using other people's deposits, but as the amount grew, the funds were blocked.
The investigation has already led to the arrest of 10 other suspects, including those involved in money laundering and the owners of shell accounts.
During interrogation, Han stated that he studied in China for six years and then began working for a group in South Korea that specialized in laundering digital assets through physical gold. He allegedly managed cryptocurrency accounts where the victims' funds were deposited, which were then used to purchase precious metals from overseas suppliers.
According to authorities, from January to March 2024, approximately 47.3 million USDT passed through Han's accounts. In each round of laundering, over 10 kg of gold was involved along with 1 million USDT, law enforcement calculated.
