SUVARNABHUMI -- Thai cybercrime police arrested a 31-year-old Russian man at Bangkok's Suvarnabhumi Airport on Friday evening, accusing him of leading an online investment scam that defrauded a Thai businessman two years ago, authorities said.
The suspect, identified by police as Gabriel, was detained as he arrived at the airport. Investigators said he had been living in Chonburi province on a student visa and had repeatedly entered and exited Thailand since 2023 while allegedly carrying out fraud operations targeting victims in the country.
The case stems from a complaint filed by a businessman from Nakhon Sawan province, who told police he was deceived in 2023 by scammers posing as an attractive woman who built a romantic relationship with him online. The scammer later persuaded him to invest in short-term gold trading through a fraudulent platform called "ATFX," falsely claiming the investment offered fast and high returns with minimal capital.
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Police said the victim initially received small withdrawals that appeared to be profits, prompting him to transfer increasingly larger sums of money. He later became unable to withdraw his funds and realized he had been defrauded, after which he filed a police report.
Investigators said the scam ring used a complex network of nominee bank accounts to move the stolen money. Funds were transferred through 10 accounts -- eight belonging to Thai nationals and two held by the Russian suspect, whom police described as the ultimate beneficiary. Thai account holders allegedly withdrew cash from ATMs before converting the money into digital currency and transferring it to other members of the group.
Authorities said arrest warrants were issued by the Nakhon Sawan Provincial Court for 10 suspects. Seven have now been arrested, and about 2 million baht ($64,500) has been frozen in related bank accounts.
Gabriel has denied the allegations, but police said financial records show extensive transactions consistent with money laundering through digital currency linked to the scam network.
He has been charged with conspiracy to commit fraud by impersonation and with opening or allowing others to use bank accounts while knowing or having reason to believe they would be used for technology-related crimes.
Police warned the public to remain vigilant against romance scams that lure victims into unrealistic investment schemes and advised people to invest only through credible and verifiable financial institutions.