Chinese man arrested in Bangkok over alleged $14 million crypto Ponzi scheme

Liang Ai-Bing was arrested in Bangkok while living in luxury, having allegedly run a Ponzi scheme involving nearly $31.6 million in total losses. Authorities undertook a joint operation following intelligence sharing between Thai and Chinese police.

The FINTOCH platform, falsely claiming ties to Morgan Stanley, promised unrealistic returns and collapsed in May 2023, leading to significant investment losses. Investigations revealed other implicated individuals, highlighting extensive fraud in the crypto space.

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