Thailand begins criminal investigation into OneCoin

Alexandre Cazes

In what seems like a global crackdown on OneCoin pseudo-cryptocurrency Ponzi scheme, Thailand has also join the league countries increasing their venom on the scam ring.

Media reports from Thailand have confirmed that the Economic Crime Suppression Division, the Office of Consumer Protection has started a criminal investigation into the activities of OneCoin in the country.

Earlier this week, Bank of Thailand did issue a fraud alert on OneCoin warning its citizens to stay away from the scheme and its promoters.

The investigation which has started in due course will be overseen by the Department of Special Investigation are a division of Thailand’s Ministry of Justice.

Department of Special Investigation is said to be operating independently of the Royal Thai Police and is tasked with the investigation of certain “special cases”.

These include complex criminal cases, those affecting national security, those involving organised criminal organisations and those potentially implicating high-ranking government officials or police officers.

The DSI is often referred to as Thailand’s counterpart to the United States’ Federal Bureau of Investigation (FBI).

According to BehindMLM, one Juha Parhiala is the alleged top promoter of OneCoin in Thailand. His current location and other partners are not known. There are speculations that he fled to Dubai.

OneCoin was founded by Cr. Ruja Ignatova from Bulgaria. The Bulgarian government has been mute on its stance on OneCoin as to whether it is a legitimate investment scheme.

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