Chinese National Arrested in Bangkok Over $14M Crypto Ponzi Scheme
Thai authorities have apprehended Liang Ai-Bing, a Chinese national linked to an alleged cryptocurrency Ponzi scheme that defrauded investors of over 100 million yuan ($14 million). The operation, conducted with cross-border cooperation between Thai and Chinese officials, uncovered the suspect living in a high-rent Bangkok residence alongside an unlicensed firearm.
The scheme, operating under the name FINTOCH between December 2022 and May 2023, allegedly used mobile applications to solicit funds from unsuspecting investors. Four other suspects—Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun—remain at large, with Zuo having been previously arrested and released on bail.
Key details about investor counts, return mechanisms, and fund recovery remain undisclosed. The presence of a weapon at the scene adds a LAYER of complexity to what appears to be a sophisticated cross-border financial crime.
