A 37-year-old Chinese man wanted by authorities in China allegedly ran a money-laundering network in Bangkok linked to a transnational crime syndicate.
Thai immigration police arrested him on 16 Oct at a luxury home in Ramkhamhaeng, in Bangkok’s Saphan Sung subdistrict and Saphan Sung district. Police said they had built the case through financial records and digital trails.
The man’s name has not been released. Police allege that he managed a network which hired people to open bank accounts, then used cryptocurrency and foreign-currency exchanges for criminal groups across more than 133 accounts.
Transactions through the network exceeded 500 million yuan ($75 million), police said.
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Investigators also allege that he arranged visas for members of international crime groups connected to other money-laundering cases.
The arrest followed more than three years in Thailand after his visa expired, according to police. They said he used forged documents to report his residence and changed vehicle registration plates in an effort to avoid detection.
The People’s Republic of China had sought him over alleged involvement in a loan sharking ring.
Thai police charged him with being a foreigner in the kingdom after permission had expired, under Section 81 of the Immigration Act B.E. 2522 (1979). He also faces allegations related to money laundering and operating an unlicensed currency exchange service under Thai law.
The money-laundering allegation remains to be tested through formal charges and court proceedings. Thailand’s Anti-Money Laundering Act allows penalties of up to 10 years in prison and fines for people convicted of laundering proceeds.
He is in custody while the case remains at an early stage. Thai authorities plan to coordinate his return to China to answer the outstanding warrant, after legal proceedings in Thailand.
Thailand has been described as a transit point for illicit digital-asset flows originating from China.
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