Police announced the results of the 'Dragon's Nest Raid' operation, expanding the "Mingchen Sun" case, revealing he is one of the masterminds behind transnational crime. His finances are linked to the "Chen Zhi" network, leading to the seizure of additional assets totaling nearly 600 million baht.
At 13:30 on 12 June, at the Technology Crime Suppression Division Headquarters (TCSD) in Muang Thong Thani, Pak Kret District, Nonthaburi Province, Police Lieutenant General Suraphol Prembutr, Commander of TCSD, together with Police Lieutenant General Naradet Thiprak, Commander assigned to the Royal Thai Police Office assisting TCSD, Police Major General Kantapong Chairungroeng, Deputy Commander assigned to TCSD, Police Major General Thinkorn Rangmat, Deputy Commander of TCSD, Police Major General Chatpandakan Klayklung, Deputy Commander of TCSD, and Police Major General Siriwat Deepho, Commander of TCSD Division 1, jointly announced results of the 'Dragon's Nest Raid' operation expanding the "Mingchen Sun" case, a Chinese national hiding an arms cache linked to scammers in the Prince Group network. The operation involved searches at 14 locations and asset seizures exceeding 583 million baht.
Police Lieutenant General Suraphol said this case began in 2021 when victims were deceived into investing via fake platforms in a Hybrid Scam. Perpetrators used social media to build relationships with victims before encouraging investments in digital assets and tricking them into transferring money through mule accounts. Investigations found victims had filed complaints in five separate cases across various jurisdictions: Din Daeng Police Station case no. 462/2021, Nong Kham Police Station in Chonburi case no. 727/2021, Bang Khen Police Station case no. 1471/2022, Sala Daeng Police Station case no. 452/2022, and an online complaint with TCSD Division 2.
Ongoing investigations revealed that although the five cases involved different fake platforms deceiving victims, the victims' funds were funneled into a complex money laundering system involving mule accounts, digital asset trading, and underground financial systems. These funds were then passed to financial managers and ultimately to top beneficiaries within the same network, proving that these cases across multiple locations were part of a single transnational criminal organization.
Further examination of financial routes and digital asset transactions related to suspects in the five Hybrid Scam cases uncovered evidence linking to "Mr. Mingchen Sun," a 30-year-old Chinese national who was involved in a car rollover accident in the jurisdiction of Najomtien Police Station, Sattahip District, Chonburi Province, on 9 May. A search at that time found a Glock 26 pistol, leading to further searches at his residence where numerous military-grade weapons and high-powered explosives were discovered. Subsequently, 11 individuals connected to this matter were arrested across seven cases. Additionally, links to 4,143 online crime cases were found, with total damages exceeding 815 million baht.
The Royal Thai Police assigned multiple agencies to conduct an in-depth financial investigation, uncovering that victims' funds were intricately linked with multiple bank accounts held by "Mr. Mingchen Sun." He received massive transfers from numerous individuals within the same network, totaling over 100 million baht. There is also evidence of financial connections to key figures in the case and individuals involved in asset ownership.
Continuous collection of evidence revealed that the financial data converge on Mr. Mingchen Sun as a beneficiary and one of the masterminds of the crime syndicate, along with several Thai and foreign persons involved. The trail leads to individuals and legal entities within the Prince Group network associated with Mr. Chen Zhi, believed to be the ultimate beneficiary of this transnational criminal network. Authorities obtained court approval to raid key targets in Bangkok, Samut Prakan, and Chiang Mai provinces.
Following this, Police Major General Thinkorn Rangmat, Deputy Commander of TCSD, Police Major General Siriwat Deepho, Commander of TCSD Division 1, Police Colonel Thianthawat Arjjanavethangk, Deputy Commander of TCSD Division 1, and Police Colonel Preeda Kongjad, Deputy Commander of TCSD Division 1, led over 100 police officers to conduct simultaneous raids at 14 locations linked to the case: 10 in Bangkok, 3 in Samut Prakan, and 1 in Chiang Mai.
The searches resulted in the seizure and freezing of numerous assets connected to the crimes, including a luxury condominium in the upscale Lumphini area of Bangkok valued at over 60 million baht; real estate such as a masterful luxury house in the Krungthep Kreetha area worth more than 75 million baht; a premium-level luxury house in Bangna, Bangkok, worth tens of millions; villas, land title deeds, luxury vehicles, bank passbooks, credit cards, financial documents, property ownership papers, electronic devices, mobile phones, computers, and extensive digital evidence. The total value of assets seized and frozen amounts to more than 583 million baht.
Subsequent examination of evidence seized from all 14 locations uncovered crucial information about proxy asset ownership, fund transfers, asset management, and links among individuals in the network. These findings are undergoing detailed verification and analysis. Authorities believe this will enable further prosecution of additional accomplices and have obtained court approval to issue arrest warrants for all individuals involved based on the gathered evidence.