In brief
- Authorities in Portugal are investigating Pedro M., 39, for allegedly masterminding a massive fraud involving cryptocurrencies and credit cards. The alleged scam totals €500 million and spans multiple countries, including Portugal, other European nations, the Philippines, and Thailand.
- A Portuguese journalist spotted the suspect at an upscale shopping center in Bangkok. Thai law enforcement apprehended him using advanced facial recognition technology.
- Police reports indicate the suspect has been residing unlawfully in Thailand since 2023.
A Portuguese national, suspected of orchestrating a vast cryptocurrency and credit card scheme valued at approximately $580 million (equivalent to €500 million), has been taken into custody in Bangkok, Thailand.
The individual, identified as 39-year-old Pedro M. by the Thai news source Khaosod English, was initially recognized by a Portuguese reporter vacationing in the Thai capital while at an exclusive shopping complex.
While Khaosod did not disclose Pedro’s full surname, details and images correspond to Pedro Mourato, a figure familiar to the Portuguese media.
Thai officials confirmed his identity through facial recognition technology along with biometric data. Over ten undercover officers were deployed to the shopping center, ultimately locating Pedro M. allegedly engaged in a phone conversation with a noticeably “tense” demeanor.
According to police, Pedro, a native of Lisbon, has been residing in Thailand since 2023. Despite an initial arrest warrant upon his arrival, he remained in the country, staying illegally after failing to renew his visa or properly register his place of residence.
Reports suggest he continued illicit activities within Thailand, purportedly defrauding investors of over 1 million baht (roughly $30,800) while in Bangkok. Citing Interpol records, Khaosod indicates Pedro’s involvement in fraudulent schemes across Portugal, Europe, the Philippines, and Thailand.
Thailand Crackdown on Crypto Fugitives
Seeking refuge in Thailand is proving to be an ineffective strategy for individuals attempting to evade consequences for cryptocurrency-related offenses. Over the past year, the Southeast Asian nation has apprehended several suspected crypto criminals on the run.
In May, a Vietnamese woman, age 30, was arrested in Bangkok in connection with a crypto scam that allegedly victimized over 2,600 individuals, resulting in approximate losses of $300 million.
In August, Thai authorities detained a 33-year-old South Korean man at Suvarnabhumi Airport in Bangkok for his suspected involvement in money laundering through cryptocurrency, facilitated via gold bars, on behalf of international criminal networks.
During the same week, the 34-year-old “mastermind” behind another fraudulent scheme was extradited back to South Korea. This scam is believed to have defrauded K-pop celebrity Jungkook from BTS, amongst a multitude of others.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.