Thai authorities have arrested six people accused of running an elaborate investment scam that falsely claimed endorsement from former U.S. President Donald Trump. The scheme promised unusually high returns—up to 20 times the initial investment—successfully attracting victims who believed the venture had legitimate international backing.
Police Major General Thatphum Jarupat, head of the Economic Crime Suppression Division, said coordinated raids were carried out across Khon Kaen, Amnat Charoen, Ubon Ratchathani, Pathum Thani, Nonthaburi, and Bangkok, reflecting the group’s extensive operations.
The alleged ringleader, a 57-year-old man named Athinath, was arrested along with five accomplices under court-issued warrants. Charges include fraud, misleading financial loan activity, and inserting falsified information into computer systems.
During the raids, officers seized a trove of evidence: eight mobile phones, three laptops, a tablet, 22 bank account books, 33 foreign authorization letters, and a fabricated “unblocking certificate” valued at US$783.8 million, which falsely displayed what appeared to be Donald Trump’s signature.
Investigators said the group claimed to be connected to a Nigerian oil fund and used this story to persuade victims to transfer more than 13 million baht. All documents used to support the scheme were later confirmed to be counterfeit.
This case comes amid Thailand’s increasing crackdown on financial crime. In another recent incident, police arrested a Russian national in Bangkok’s Sukhumvit area for allegedly scamming a Chinese-Thai business owner out of nearly 12 million baht through a fake online investment platform.
Officers recovered bank books, ATM cards, and digital evidence showing how money was funneled through 22 different bank accounts before being partially converted into digital assets in an attempt to obscure the financial trail, according to the Bangkok Post.
