BANGKOK, THAILAND – Thai police arrested six suspects over an alleged investment scam that used forged Donald Trump documents to defraud investors of millions.
Nationwide raids on alleged investment ring
Under the command of Police Major General Thatphum Jarupat, head of the Economic Crime Suppression Division (ECCD), officers conducted coordinated raids on Thursday in Khon Kaen, Amnat Charoen, Ubon Ratchathani, Pathum Thani, Nonthaburi and Bangkok. The operation targeted locations linked to the alleged network that had promoted a supposed Nigerian oil investment fund.
The main suspect, Athinath (57), and five alleged accomplices were accused of luring victims with promises of participation in a Nigerian oil fund that was said to be personally backed by Donald Trump. According to investigators, investors were promised a 20-fold return on their initial capital.
Forged “release certificate” for $783.8 million
Police reported seizing eight mobile phones, three laptops, one tablet, 22 bank books and 33 foreign authorization documents during the raids. The most striking discovery was an alleged “release certificate” for 783.8 million US dollars, bearing what investigators said was a forged signature of Donald Trump.
Authorities stated that the group appeared to have had no qualms about exploiting the name of the former US president for its activities. All the documents examined by investigators were found to be forged.
Losses of more than 13 million baht
Officers estimated investor losses at more than 13 million baht (about 325,000 euros), taken from unsuspecting victims attracted by the promise of extraordinary returns. The funds were routed through 22 different bank accounts and were partly converted into digital assets.
Investigators described the structure of the alleged scheme as a carefully planned system that had now been exposed. The ECCD said the financial trail helped to link the suspects to the suspected fraud.
Fraud and computer crime charges
All six detainees were charged with fraud, fraudulent borrowing and entering false information into computer systems. Police said arrest warrants had already been issued before the raids took place.
The alleged members of the gang were expected to face court, with officers describing the evidence against them as overwhelming. The case was presented as a significant step in disrupting organized investment fraud.
Warning to investors as schemes grow more sophisticated
Authorities said the crackdown demonstrated the determination of Thai agencies to combat organized economic crime. Police Major General Thatphum stressed that such fraud schemes had become increasingly professional.
“Check every investment proposal carefully! And to all fraudsters: Thailand’s police are striking back!”
said Thatphum Jarupat, head of the Economic Crime Suppression Division.