Jaravijit Siblings to Plead “Not Guilty” in Bitcoin Money-Laundering Case Involving $24 Million Theft
“Not Guilty” Plea in Money-Laundering Case Involving a $24 Million Bitcoin Theft
According to the Bangkok Post, the three Jaravijit siblings that are accused of money laundering chargers – Prinya, Supitcha, and Jiratpisit – have decided to plead “not guilty.” The trio appeared in Criminal Court last week, charged with collusion and conspiracy to launder money. These charges come from a case involving a theft of 797 million baht ($24 Million USD) in Bitcoin.
The case involves the three defendants named above, along with six accomplishes, who were accused of “luring Finn Aamai Otava Saarimaa into investing with them between June to December last year.” At the time, according to the case, Saarimaa ended up buying 500 million DNA Co. shares, investing in an NX Chain Inc. project called Dragon Coin, and purchasing Expay Software Co. shares.
During the investment period, he dedicated investments to the electronic wallets of the defendants multiple times, though the group ultimately decided to sell the digital assets. They were worth 797.41 million baht at the time, which they deposited into their accounts, and no investment was fulfilled.
Jiratpisit spent 43 million baht from the theft to buy land in Chatuchak on October 6th. Over the course of four different dates – October 11th, 12th, 19th, and November 29th last year – Prinya used 124 million baht to purchase seven different blocks of land, which are located in the Chatuchak and Din Daeng districts in Bangkok, along with the Nonthaburi province. On December 6th, Supitcha used 8.5 million baht for the registration fees involved with the sale of land.
Considering all of the money was spent on personal purchases, Saarimaa has not seen any profit. Eventually, the lack of follow-through brought him to file a complained with the Thai Crime Suppression Division (CSD).
Jiratpisit and Supitcha were arrested in August, with a bail of $61,000 each. However, Prinya sought protection in the United States, fleeing Thailand to avoid the charges. When the Thai CSD revoked his passport, it became illegal for him to reside in the United States, leading to his return and subsequent arrest. He was given no option of bail from his current stay in the Bangkok Remand Prison.