A Vietnamese fugitive was arrested in Bangkok over a massive investment scam in her home country.

Ngo Thi Theu, also known as 'Madam Ngo', 30, allegedly defrauded more than 2,600 Vietnamese nationals of 300 million USD through a massive Ponzi scheme.

She was said to be a key cog in a huge scam syndicate that lured victims into investing in bogus cryptocurrency and foreign exchange assets.

To appear legitimate, the network reportedly hired celebrities and influencers, promising risk-free, quick, and high returns. They also offered commissions for those able to recruit other people.

Victims were able to withdraw small profits at first, but were cut off after depositing large sums.

Thai police acting on intel from the Vietnamese government arrested Ngo and her two Vietnamese bodyguards at a hotel in Bangkok on Friday, May 23.

Police Major General Wittaya Sriprasertparb, commander of the Crime Suppression Division, said: 'She was wanted by Interpol and Hanoi police on charges of misprision.'

Ngo and her guards, Ta Dinh Phuoc, 38, and Trong Khuyen Trong, 41, were also charged with overstaying their visas.

During interrogations, Ngo allegedly confessed to the charges. She claimed she was an accomplice, and the gang ringleader managed the profits obtained from the fraud.

She reportedly confessed that her ill-gotten share was laundered through real estate investments in Vietnam. While in hiding, she continued to receive money through Vietnamese mule accounts that wired funds to accomplices in Thailand.

Authorities said the large-scale operation was led by a Turkish boss, with more than 1,000 employees working across 44 scam hubs in Vietnam and Phnom Penh in Cambodia.

Ngo was detained and awaiting extradition to Vietnam to face legal action.