Thailand’s Big 3 Banks Suspected Involved in $24M Bitcoin Scandal

According to a media report in the Bangkok Post, employees at 3 major Thai banks were suspected of involvement in the $24M investment scandal involving a 22-year-old Finnish investor.

Aarni Otava Saarimaa, 22-year-old Finnish man, bet He lost more than 5,500 Bitcoins in the last scandal, and also explained to the Crime Fighting Division (CSD) that he was somehow convinced that he was sending Bitcoins for investment to Thai banks, making the case come to light.

The CSD report states that Bitcoins were never deposited for Saarima. and now 3 foundation banks; Bangkok Bank, Siam Commercial Bank, and Kasikornbank all said they were involved.

All three banks made transactions involving illegally obtained money, and several bank employees paid 2 million Baht( He did not report the money of 350,000TL). Some of this money was linked to the bank accounts of at least one Thai celebrity and several businessmen. The police are now trying to decide whether they should punish the banks and their employees.

Veerathai Santiprabhob, director of the national Bank of Thailand, stated that although he reiterated that illegality is a serious crime, the incident did not occur during crypto exchanges. He added that there have been other Bitcoin scandals where the money was used for wrong purposes.

Thailand’s Anti-Crime Division’s investigation continues in the high-grade fraud crime, where at least 8 suspects are being questioned.

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