Thai police arrested 39 people and seized assets worth more than 500 million baht in a transnational investment scam and money-laundering operation, authorities said Tuesday, October 13, 2026. The Anti Cyber Scam Center (ACSC) and the Central Investigation Bureau (CIB) carried out searches at 27 locations in 11 provinces, confiscating luxury property, vehicles and cryptocurrency. Police also said the alleged fake trading scheme defrauded victims of more than 173 million baht. Police accused the suspects of running a fake stock-trading operation through an app identified as eto-th dot com, which investigators described as a fraudulent trading application. Victims were allegedly contacted via Facebook with promises of high returns, then added to Line groups where proxy accounts operated by call-centre scammers promoted the scheme. Targets were directed to download ETO TH and were allegedly provided by people posing as “expert instructors”. Police said victims transferred money into 13 corporate bank accounts controlled by the network. When victims tried to withdraw “profits”, they were allegedly hit with demands for extra fees, but they were still unable to receive their money after paying further charges. The investigation was sparked after authorities compared Thailand Privilege visa holders named in online crime complaints with suspicious transfers into accounts held by Chinese visa holders. Warrants issued by the Criminal Court were used to arrest 39 suspects, including 30 Thai nationals, eight Chinese nationals and one Myanmar national. Police listed eight luxury properties worth more than 330 million baht, land title deeds and condominium units in the Rama IX area worth more than 90 million baht, and a luxury residential property in Krungthep Kreetha worth more than 60 million baht. Seizures also included 10 luxury vehicles, Thai and foreign currency worth more than 4.2 million baht, Tether (USDT) digital assets, jewellery, luxury watches and designer handbags. Investigators said the network moved proceeds through other bank accounts, cash withdrawals at ATMs, informal remittance and currency-exchange networks, and payment gateways. Some funds were allegedly converted into USDT and transferred to digital wallets to obscure the trail, then converted back into baht via legally operating exchanges. Police said those exchanges were not involved in the alleged crimes. Police reported that a Chinese suspect admitted laundering at least 3 billion baht since 2022 for senior partners in a scam centre in Poipet, Cambodia. Officers also said they had not established direct financial links between the suspects and the individuals believed to be the actual occupants of the luxury properties. Thailand police said they are strengthening Thailand Privilege visa screening with relevant agencies and carrying out retrospective checks on visa recipients. The case remains under investigation.