$24 Mln Thai Bitcoin Fraud Story Continues: Victim Takes Charges Off Two Suspects

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Wed, 09/05/2018 - 12:22
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Yuri Molchan
Aarni Otava Saarimaa, who lost 5,560 Bitcoins, backs on his charges against two suspects
$24 Mln Thai Bitcoin Fraud Story Continues: Victim Takes Charges Off Two Suspects
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The suspects who are now free to go are a local Stock Exchange trader and the major shareholder of the tech company Expay Software. Earlier this week, the Finnish victim of the fraud, Aarni Otava Saarimaa decided to take back the charges.

Instead, they have paid compensation in accordance with Thai laws. However, the amount that Saarimaa got paid is not disclosed.

Peace talk

The negotiations between the investor and the suspects took place last week, and Saarimaa called them very satisfactory, refusing to share any more details, though.

As a reminder, the Finnish investor submitted a complaint to the Thai law enforcement agency right after the New Year. Back then he lost about $24 mln after he had given this money in Bitcoins to a group of Thailand residents led by Prinya Jaravijit.

First Saarimaa got an offer to invest just $8 mln to buy stocks at the Stock Exchange of Thailand and then invest almost $3 mln into Expay Software Co. Jaravijit and his ‘subordinates’ also invited the man to buy Dragon Coin with $13 mln– a virtual coin for gaming.

Bitcoins were invested in the family

Once the Bitcoins were sent to Prinya’s wallet, he did not bother investing them. Instead, he made an investment into his close relatives– part of the money went to his brother, famous Thai film actor Jiratpisit Jaravijit, his father, mother and sister.

The whole family was on the run and, reportedly, ended up in the US. Prinya decided to give in. The hearing of his case was initially set for the second half of September but he asked through his lawyer to arrange for a postponement.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.