Immigration police escort a French national suspect following his arrest in Cha-am over an alleged multi-billion-baht international investment fraud case.
PHETCHABURI, Thailand – Immigration police have arrested a 33-year-old French national wanted by authorities in France, Turkey, and Interpol in connection with a large-scale cross-border investment fraud network involving losses estimated at over 200 million euros (approximately 7.5–8 billion baht). Police officers from Immigration Investigation Division 3, led by Pol. Col. Suriya Puangsomboon, conducted the operation following the revocation of the suspect’s permission to stay in Thailand, ordered by senior immigration officials.
Acting on intelligence, officers tracked the suspect to a luxury villa in Cha-am district, Phetchaburi province, at around 3.00 p.m. on June 20. He was taken into custody after officers confirmed his identity during a passport inspection. Authorities confirmed that the suspect fell under prohibited person status under Thailand’s Immigration Act B.E. 2522 (1979), Section 12(7), leading to the revocation of his stay permit and immediate detention for legal processing.
Investigations revealed that the suspect, working with five accomplices, established a “digital finance” company in 2022, falsely claiming links to a major financial institution in Dubai, UAE. The group allegedly solicited investments from victims, particularly Turkish nationals residing in France, Belgium, Switzerland, and New Zealand, with investment amounts ranging from 20,000 to 300,000 euros. The scheme promised unusually high returns, including monthly profits of 15%, annual returns of up to five times the investment, and additional bonuses for recruiting new members, fitting the characteristics of a Ponzi-style investment fraud. Police said the network is believed to have affected more than 900 victims worldwide. The Immigration Bureau will proceed with deportation procedures to return the suspect to the requesting country for prosecution under international legal processes.
