Chinese stock-manipulating gang busted

BANGKOK, June 27 (TNA) – Police arrested a gang of 21 Chinese people who used Thailand as their base to manipulate Chinese stocks and trick compatriots in China and Thailand. Deputy tourist police chief Surachate Hakparn said the suspects were arrested at house No 1/46 in Nakarin housing estate on Supapong 3 Road and house No 49 on Supapong 1 Road off Srinakarin Road. Police also apprehended Piraya Techinsirikul, 45, who owns the house No 49. According to him, the Chinese suspects used WeChat and QQ chat software applications to lure Chinese victims into investing in the Chinese stocks they manipulated and defrauded the victims of their money. In the raids, police seized 194 mobile phones, 3,680 SIM cards and 21 computers. The Chinese suspects visited Thailand as tourists and later applied for student visas. They did not study in Ayutthaya province as they claimed but worked as illegal stock brokers while manipulating cheap Chinese stocks. Police revoked the visas of the Chinese suspects and charged them with illegal stock brokerage. Ms Piraya was charged with illegally accommodating the Chinese people. She told police she innocently leased her house to them for 100,000 baht a month and found the other house for the suspects with the monthly rent of 30,000 baht. (TNA)