A suspected fraudster who was arrested in Bangkok, $580 million in stolen funds

A Portuguese man has been arrested in Bangkok, Thailand, suspected of adjusting credit card fraud worth $580 million (500 million euros).

The man identified as 39-year-old Pedro M is an English-language Thai newspaper Corawas first discovered in a gorgeous shopping mall by a Portuguese journalist who was on vacation in the city.

Pedro’s surname has not been confirmed Corahowever, his profile and images match the profile of Pedro Mourato, well known in the Portuguese media.

Thai authorities say they used facial recognition and biometric data to verify his identity. Police dispatched more than 10 mediocre investigators to search the mall. Pedro M. was reportedly found while calling his smartphone with the phrase “stiffness.”

Police say Pedro, born in Lisbon, has been living in Thailand since 2023. He was able to avoid the first warrant of arrest issued after he first entered the country and stayed there. However, he was there illegally after renewing his visa or not registering an official address.

He reportedly continued to act fraudulently in Thailand and allegedly scam investors worth more than 1 million baht ($30,800) while in Bangkok. Citing the Interpol database, Khaosod says that Pedro is involved in scams across the planets of Portugal, Europe, the Philippines and Thailand.

Thailand has returned to code refugees

Escape to Thailand may not be an effective strategy to avoid punishment for crypto crime. Southeast Asian countries have started running over the past year and have plagued many suspicious code criminals.

In May, a 30-year-old Vietnamese woman was arrested in Bangkok for her involvement in a cryptocurrency scam that allegedly deceived more than 2,600 victims and caused about $300 million in losses.

In August, Thai police arrested a 33-year-old Korean man at Bangkok’s Suvarnabumi airport on suspicion of role in washing cryptocurrency through gold bars for international criminals.

In the same week, another rigged plan, 34-year-old “mastermind” was handed over to his native South Korea. The scheme was believed to have scam K-Pop Star Jungkook, a member of BTS.