International Crackdown Takes Down Nine Crypto Investment Scam Centers, Leads to Arrest of 276 Individuals

Law enforcement authorities arrested at least 276 individuals following an international crackdown that targeted scam centers engaged in cryptocurrency investment fraud schemes.

In a statement, the US Justice Department says that a cooperation between the FBI, Dubai Police Department and Chinese Ministry of Public Security led to the dismantling of at least nine crypto scam centers that targeted Americans.

Among those apprehended is Burmese national Thet Min Nyi who is believed to be a manager and recruiter for the Ko Thet Company that allegedly operated several scam centers. The coordinated effort also led to the arrest of Indonesia nationals Wiliang Awang, Andreas Chandra and Lisa Mariam. All four were charged with federal fraud and money laundering in San Diego on April 29th.

The DOJ says the defendants worked for and recruited others to work for Ko Thet Company, Sanduo Group and Giant Company that are allegedly connected with crypto scam centers engaged in pig butchering, a type of fraud that involves gaining the victims’ trust before persuading them to use their money on fake investments.

Says Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division, 

“Fraudsters who target Americans from overseas cannot operate with impunity, no matter where in the world they reside. The charges and arrests announced today reflect an international consensus that scam centers are unwelcome everywhere and must be rooted out. Scam center organizers and fraudsters who defraud Americans and others will face justice in American courts and in courts around the world.”

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