A Chinese national was arrested in Bangkok on Thursday, after police moved on a search warrant tied to an alleged crypto Ponzi scheme that took in more than 100 million yuan — roughly $14 million.

The man, named Liang Ai-Bing, was found living in a three-storey house in the Wang Thonglang district, and officers recovered an unlicensed Beretta pistol with 20 rounds of ammunition at the scene.

Operation And Arrest

Reports have disclosed that Liang and four other suspects set up a platform called FINTOCH between December 2022 and May 2023.

Authorities say the group used mobile apps to attract money from investors. Names linked to the case include Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que and Zuo Lai-Jun.

Based on reports, all five reportedly left the country except Zuo, who was arrested

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