- Pedro M., accused of $580M crypto and card fraud, was arrested in Bangkok.
- Authorities used facial recognition to confirm his identity.
- His arrest is part of Thailand’s ongoing crackdown on international crypto-related crimes.
A Portuguese man suspected to have organized cryptocurrency and credit card frauds in a number of nations has been apprehended in Bangkok. As per the local reports, the suspect was identified as 39-year-old Pedro M., who had been living in Thailand illegally since 2023. His arrest occurs after continued initiatives by Thai authorities to suppress crypto-related crime in the nation.
Arrest Follows Tip-Off at Bangkok Shopping Mall
Pedro M. was located at a luxury shopping mall in Bangkok after a Portuguese journalist recognized him during a personal trip. The journalist reported the sighting, prompting Thai police to deploy more than ten undercover officers to the location. Officers found Pedro while he was using his phone and appearing visibly tense.
Authorities used facial recognition and biometric verification to confirm Pedro’s identity. Local newspaper Khaosod reported that Pedro M. is believed to be Pedro Mourato, a figure previously linked to financial crimes in Portuguese media reports. However, his full identity remains unconfirmed by Thai officials.
Suspect Accused of Global Crypto and Card Fraud
Pedro is suspected of orchestrating a massive international fraud operation worth approximately €500 million ($580 million). Portuguese investigators connected him to multiple cases involving both cryptocurrency and credit card schemes. Crypto Hawk reveals that these alleged crimes span across Portugal, other parts of Europe, the Philippines, and Thailand.
Interpol records accessed by Thai police also associate Pedro with ongoing financial fraud cases in several jurisdictions. In Thailand, authorities say Pedro continued illegal activities while overstaying his visa. He reportedly defrauded local investors out of over one million baht (approximately $30,800).
Visa Violations and Ongoing Investigations
Pedro lawfully entered Thailand, however, he did not renew his visa or address the immigration authorities at his residential address. According to Thai authorities, his immigration status was made illegal in 2023, and soon after, he arrived in the country. Nevertheless, he was still active and still continued with fraudulent activities as he escaped.
After his arrest, Thai police affirmed that Pedro had evaded a prior warrant after he had first arrived in the country. Research is still bound to establish the extent of his operations in Southeast Asia. The arrest of Pedro is the latest in a list of crypto-related suspects arrested in Thailand this year.
In May, Thai officials detained a 30-year-old Vietnamese female who was tied to a $300 million crypto scam that fooled more than 2,600 customers. In August, A South Korean was caught in the act of laundering cryptocurrency into gold bars in the international airport of Bangkok. During the same month, another crypto suspect alleged to have been targeting celebrities was extradited to South Korea to be prosecuted.
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