Thai Siblings Accused of $24 Million Bitcoin Fraud Plead ‘Not Guilty.’

Three citizens of Thailand, Prinya Jaravijit, Supitcha, and Jiratpisit, who are siblings, accused of allegedly defrauding worth $24 million of Bitcoin, have pleaded “not guilty” in the criminal court to money laundering charges, according to the reports of the newspaper of Bangkok on Nov 7.

The case involved in investing for gambling purposes focused fake crypto token called Dragon Coin, buy 500 million shares in DNA (2002) Co, as well as to buy shares in Expay Software Co., a software company. Aamai Otava Saarimaa, a 21-year-old investor, invested his BTC last year between June
and December, according to the investigation. A transaction of crypto subsequently laundered it to the different wallets of siblings.

The siblings’ parents involved in the direct laundering of the Bitcoin assets and now facing serious charges. Suspected, major Thai banks’ staff was also involved in the fraud.

The prosecutors claim that most of the money was used to buy blocks of land and real estate in various places in Thailand. Jiratpisit also was known as “Boom,” who is a younger brother among siblings, a 27 years old TV actor, spent $1.3 million to buy land in the Bangkok.

Reportedly, Saarimaa did not get any profit and complained to the Thai Crime Suppression Division (CSD).

Two of the siblings, Jiratpisit and Supitcha, were arrested in August and then free on bail of $61,000 each. The elder one of the siblings, Prinya Jaravijit, succeeded to escape to the U.S. to evade the charges. But in October, the CSD of Thai canceled his passport, forced him to return to Bangkok. Currently, he is in Bangkok Prison.

The next court date is set for December 24, when evidence and witness lists will be examined in
preparation for the trial.

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