Bitcoin Scam Costs Finnish Man $34 Million

Source: ETHNews, originally published on .

https://www.livebitcoinnews.com/bitcoin-scam-costs-finnish-man-34-million/.

Police in Thailand arrested a popular actor after allegations of his involvement in a Bitcoin scam that cost a Finnish man $34 million.


It’s a common practice for businesses to use famous celebrities to entice people to buy their products. This goes for everything from cars to food to even financial services. While there is always the possibility of someone not getting what they paid for, this issue is compounded when cryptocurrency comes into play. The vast amount of wealth found in the cryptocurrency sphere can lead to some major heartbreak for individuals, as one man found out in a recent Bitcoin scam involving a popular actor in Thailand.

Lights! Camera! Bitcoin Scam!

Late last week, Thai police arrested Jiratpisit “Boom” Jaravijit, a popular actor. He is accused of being part of a money laundering scheme involving a staggering amount of BTC, all of which came from a single individual.

Aarni Otava Saarimaa is a 22-year old man from Finland. He was convinced to invest in a venture touted by the actor and other principals. The overall nature of this “investment” was that the Finnish man would send a large amount of BTC to wallets belonging to various individuals associated with the companies that were part of this business venture. The companies were supposed to take the BTC and invest in Dragon Coin, a cryptocurrency used in gaming and entertainment platforms.

Aarni Otava Saarimaa invested over 5,500 BTC in the project. Needless to say, he never received any dividends from his investment, nor did he receive any answers to his queries. He contacted law enforcement, who found that the BTC had been removed from the wallets and converted into Thai baht.

A popular Thai actor is part of a Bitcoin scam that stole over 5,500 BTC from a man in Finland.

Free on Bail

After his arrest for his part in the Bitcoin scam, Jiratpisit “Boom” Jaravijit was eventually released on bail. The conditions of his bail was a bond of 2 million baht and not being able to leave the country.

Police are looking to arrest 5 to 6 more suspects in this Bitcoin scam. Among the suspects is the 35-year old brother of the actor, who has a previous arrest warrant for embezzlement, and his 32-year old sister.

Upon further investigation, law enforcement found that the pilfered BTC has been used to fund a land business investing in Bangkok, Nonthaburi, and Chon Buri.

It should be noted that Dragon Coin has no part in this Bitcoin scam. The defendants used the promise of investing in the coin to lure the Finnish man into sending over $34 million in BTC to them. There’s no word on how much money the police will be able to recover for the victim.

Have you ever been burned by a Bitcoin scam? Let us know in the comments below.


Images courtesy of Shutterstock.

The post Bitcoin Scam Costs Finnish Man $34 Million appeared first on Live Bitcoin News.

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