A Chinese couple has been arrested in Thailand for allegedly scamming investors out of more than 41 million USD.

Suspected boiler room fraudsters Wang Pu and Shang Yu reportedly lured their victims into a Ponzi scheme by promising them large returns on their investments through the fake fundraising company 'Tianjin Wusetsu'.

They were reported to have defrauded some 1,500 people out of 300 million yuan or around 41 million USD before they were arrested by the Thai Immigration Bureau.

In an August 29 press conference, the bureau said the arrest came following an extradition request from Chinese authorities. They found that the couple had entered the kingdom on valid visas which have now been revoked.

Wang was caught at a luxury hotel in Pattaya, Chonburi province, and his car was confiscated. While Shang was arrested at a house in Bangkok, where she was living with her new Chinese boyfriend.

Both were detained at the Immigration Bureau pending further legal proceedings.

Fed-up Thai officials have made attempts to control undesirables from China, which has become a nuisance in recent years by flooding its neighbours with drugs gangs, money launderers, call centre fraudsters and corrupt businessmen.