17 Held in Major Online Store Scam Bust

Thai police have dismantled a fraudulent investment network that lured victims into opening fake online stores under the name “Style Cycle,” arresting 17 suspects and seizing assets worth more than 23 million baht. Officers carried out coordinated raids at 19 locations across 11 provinces, arresting 17 suspects wanted under warrants, Pol Lt Gen Natthasak Chaowanasai, the head of the Central Investigation Bureau (CIB), said on Friday. The suspects were divided into three groups: three alleged ringleaders responsible for directing operations and laundering money, seven cash couriers and money handlers, and seven mule-account holders. Assets seized included mobile phones, bank passbooks, electronic payment cards, cash in many currencies, 45 baht-weight of gold bars (worth about 2.9 million baht at current prices), six luxury vehicles, amulets, jewellery, designer handbags and shoes, luxury watches and diamond rings. The total value of the confiscated assets exceeded 23 million baht. Pol Lt Gen Natthasak said the investigation began after victims were persuaded through a Facebook page to open online stores, before being invited to join a Line OpenChat group called “Buy-Sell Style Cycle Market”, which appeared credible due to the presence of more than 1,000 “members”. The victims were then persuaded to register online stores through the STYLE CYCLE website. The scammers claimed that store owners needed to increase their shop credit balance before they could withdraw earnings from sales. The victims were persuaded to transfer money for so-called credit top-ups and inventory circulation tasks. The victims transferred money on 25 occasions, with payments ranging from hundreds of baht to millions, resulting in losses exceeding 14.75 million baht. They later discovered they were unable to withdraw any funds from the system. Following complaints, investigators traced a complex money trail involving large cash withdrawals, transfers used to purchase goods exported to Cambodia, and gold purchases intended to disguise the origin of the illicit funds, said Pol Lt Gen Natthasak. The investigation found that a woman identified as Preeyada operated a front company in Mae Sot district of Tak province to launder money for Chinese scam networks based in Myanmar and Cambodia. She reportedly received a 25% commission on the laundered funds. Another male suspect, identified only as Cheewan, was said to have collected cash and forwarded it to Chinese members of the network in exchange for a 5% commission. Investigators found that the network handled 149 million baht in transactions in 2025 and was linked to at least 226 online fraud cases involving combined losses of more than 17 million baht. After accepting the offers, they were taken to open multiple bank accounts before being smuggled across the border into Poipet, Cambodia. Upon arrival, their mobile phones and identity documents were confiscated. They were allegedly detained in a compound surrounded by steel fencing and guarded by armed men carrying firearms and electric stun devices. They were then forced to work as online scam operators targeting Thai victims and required to scan their faces repeatedly to authenticate financial transactions. Police have initially charged the suspects with fraud, fraud by impersonation, importing false information into a computer system, money laundering, and participation in a secret criminal association. The suspects and the seized assets have been handed over to investigators from the Technology Crime Suppression Division for legal proceedings.