Thai police have arrested four African nationals in Bangkok for allegedly operating a fake dollar scam targeting wealthy investors by falsely claiming ordinary paper could be transformed into genuine U.S. dollar banknotes using specific chemicals.

The suspects were identified as Remy, 35, and David, 40, both Liberian nationals, as well as two Cameroonian women, Nagua, 35, and Kaesia, 21, following an investigation into the alleged criminal operation in the nation’s capital.

The group approached undercover officers who posed as wealthy investors at a luxury car exhibition, demonstrating how blank paper could be transformed into authentic U.S. dollar notes using chemicals.

They also claimed they could recover about $6 million that customs officials had supposedly seized from illegal activities abroad, if 150,000 baht was paid in advance, promising a 40 per cent share of the recovered funds.

Authorities said David admitted the group intended to defraud the undercover officers, while Remy denied the allegations. Reports also noted that about 60,000 blank paper sheets were recovered, alongside counterfeit U.S. dollar notes and chemical substances allegedly used in executing the scam.