San Diego’s streets are about to get a whole lot grimier, as at least 276 scammers have been taken down in a massive international crackdown on cryptocurrency investment fraud schemes. The operation, led by the Dubai Police, has left a trail of destruction in its wake, with millions of dollars in losses suffered by unsuspecting Americans.
At the center of the scandal are five alleged managers and recruiters, including Thet Min Nyi, a 27-year-old Burmese national. Nyi, along with Wiliang Awang, Andreas Chandra, and Lisa Mariam, all Indonesian nationals, have been charged with federal wire fraud and money laundering charges in the Southern District of California. The charges were unsealed on April 29, 2026, and the suspects are now facing the music.
According to investigators, the scam centers targeted vulnerable individuals with promises of high returns on cryptocurrency investments. But instead of getting rich, victims were left with nothing but a pile of worthless digital coins. The scheme was so brazen that it caught the attention of authorities in the United Arab Emirates, China, and Thailand, who joined forces to take down the scammers.
The Dubai Police were instrumental in apprehending three of the suspects, including Nyi, Chandra, and Mariam. Meanwhile, the Royal Thai Police took down Awang, bringing the total number of arrests to at least 276. The suspects are now facing serious consequences, with federal charges that could land them in prison for years to come.
As the investigation continues, authorities are warning Americans to be on the lookout for similar scams. With the rise of cryptocurrency, these types of schemes are becoming increasingly common, and it’s up to law enforcement to crack down on the perpetrators. In this case, the international cooperation between authorities has sent a clear message: if you’re going to scam Americans, you’ll have to answer to the law.
Source: Department of Justice
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