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Chinese Ponzi scheme suspect arrested in Chiang Mai
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CHIANG MAI — Thai police have arrested a 50-year-old Chinese national wanted in China for allegedly operating a fraudulent investment platform that authorities say functioned as a Ponzi scheme.
Key facts
- CHIANG MAI — Thai police have arrested a 50-year-old Chinese national wanted in China for allegedly operating a fraudulent investment platform that authorities say functioned as a Ponzi scheme.
- The suspect, identified only as Hou, was detained at a housing estate in Nong Pa Khrang subdistrict, Mueang district, Chiang Mai, on 17 June after Thai immigration authorities revoked his permission to stay in the kingdom.
- According to the Crime Suppression Division, Hou is wanted by the Taihu County Public Security Bureau in Anhui Province, China
- Investigators allege he and associates established a company that operated a fake online investment platform to defraud investors.
Summary
The suspect, identified only as Hou, was detained at a housing estate in Nong Pa Khrang subdistrict, Mueang district, Chiang Mai, on 17 June after Thai immigration authorities revoked his permission to stay in the kingdom.
According to the Crime Suppression Division, Hou is wanted by the Taihu County Public Security Bureau in Anhui Province, China. Investigators allege he and associates established a company that operated a fake online investment platform to defraud investors.