BANGKOK - A gang of international fraudsters who duped European victims into investing eight million euros (S$12.5 million) in fake funds have been arrested in Bangkok, Thai immigration police said Friday.
The 15 foreigners, among them six Britons, two Americans, a South African and a German, told their victims they were brokers for high-return funds and lured them into transferring cash into a Swiss bank account.
They were arrested on Thursday in central Bangkok, according to Police Major General Preecha Thimamontri, of Thai immigration police, adding that they may have made millions more euros from the scam.
A statement from immigration police said the gang sourced their victims from research companies and told customers they "could make 65 per cent profit in (a) short time" by investing in gold and cash funds.
"Police seized 16 computers, printers, copy-machine and other equipment to connect to the Internet and documents with victims' information," the statement seen by AFP said.