Swedish man arrested in Thailand – for million dollar bitcoin fraud

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The man, who is in his 40’s, helped con people out of $11 million.


The Swede was wanted by the United States for working with some ten accomplices, conning more than 3,500 people. In questioning, the man said he wanted to help people invest in bitcoin. When the con was revealed, the man fled to Thailand with about $1,4 million, reports Swedish newspaper Aftonbladet.

Thailand plans to extradite the man to the US, where he risks 20 years of imprisonment for the fraud. If he is also sentenced for money laundering, which he is suspected for, he risks another 20 years in prison.

The Swedish Ministry of Foreign Affairs is aware of the matter

“The Ministry is aware that a Swedish citizen has been arrested in Thailand. The embassy in Bangkok follows this matter”, says Sofia Nahringbauer, press officer at the Ministry of Foreign Affairs, to Aftonbladet.

This is not the first time a Swede takes refuge in Thailand after a crypto-related fraud. In March, Trijo News reported on a 42-year-old man hiding in the country after being part of the Onecoin pyramid scheme.

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