Suspect Apprehended in Coastal Resort Town
Authorities have detained a French national, identified as “Mr. Dogan,” at a pool villa in Cha-am district. The arrest, which occurred on Saturday, was based on an Interpol red notice and followed arrest warrants issued by both France and Turkey.
Allegations of International Fraud
The detained individual is suspected of playing a significant role in a large-scale Ponzi scheme operated by a syndicate based in the United Arab Emirates. This organization reportedly established a “digital finance firm” in 2022, boasting purported ties to major financial entities in Dubai.
Luring Investors with Unrealistic Promises
The scheme targeted individuals, primarily Turkish nationals residing in countries including France, Belgium, Switzerland, and New Zealand. Investors were allegedly persuaded to contribute between 20,000 and 300,000 euros. The group promised extraordinary returns, including a monthly profit of 15%, an annual profit five times the initial investment, and a 10% bonus for each new investor successfully recruited.
Widespread Financial Losses Reported
Initial reports indicate that approximately 900 victims have been affected by the alleged scheme. The total financial losses are estimated to be around 200 million euros, equivalent to approximately 7.5 billion Thai baht.
Extradition Proceedings Underway
The suspect is currently undergoing extradition proceedings. Further investigations are expected to uncover the full extent of the operation and the involvement of other individuals.
