Crypto Fraudster Linked to $580 Million Scam Arrested in Bangkok

Thai police in Bangkok have arrested a 39-year-old Portuguese national suspected of orchestrating large-scale cryptocurrency and credit card fraud schemes worth $580 million. The man, who according to media reports matches the profile of Pedro Mourato, had been living illegally in Thailand since 2023 and allegedly continued his criminal activities while in the country.

Luxury Hideout Ends in Arrest The suspect was caught in a luxury shopping mall, where he was unexpectedly recognized by a Portuguese journalist on holiday. Police later used facial recognition and biometric data to confirm his identity. More than ten plainclothes investigators were deployed to track and detain him while he was on a phone call. According to Thai authorities, the man had been evading an arrest warrant since 2023, when he first entered the country. He failed to renew his visa or register an address, making his stay illegal. During this time, he reportedly defrauded local investors of over 1 million baht (about $30,800).

Global Fraud Network from Europe to Asia Interpol reports that the suspect is connected to extensive fraud operations in Portugal, across Europe, the Philippines, and Thailand. Portuguese authorities suspect him of organizing schemes that in total cost victims more than half a billion euros. The Thai English-language newspaper Khaosod highlighted that his fraudulent activities have been long-running and well documented in both European and Asian databases.

Thailand Cracks Down on Crypto Criminals This case adds to a series of recent Thai crackdowns on crypto criminals. Over the past year, multiple offenders from different countries have been arrested in the country. In May, police in Bangkok detained a Vietnamese woman accused of scamming over 2,600 victims with losses of about $300 million.In August, Thai police arrested a South Korean man at Suvarnabhumi Airport for allegedly laundering money through gold bars.Days later, another South Korean was extradited in connection with a fraud scheme that reportedly targeted K-pop star Jungkook of BTS. Thailand is making clear it will not become a safe haven for international crypto criminals, stepping up cooperation with Interpol and foreign authorities.

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