A Bangkok-based trade association, the Thai-Asia Economic Exchange Trade Association, has confirmed that Wang Yicheng, a Chinese businessman previously featured in a Reuters investigation on crypto-investment fraud, is no longer on their board. According to the group, Wang had served as the vice president.

He departed more than three months ago, citing personal reasons and a failure to pay membership dues. The association conducted background checks on Wang when he applied for membership, revealing no criminal record at that time. Further checks following the Reuters report reaffirmed no criminal record in Thailand or other countries. The association disavowed connections to criminal organizations, emphasizing its focus on fostering economic and cultural exchanges between China and Thailand, largely funded by voluntary member donations.

The association clarified relations with Thai government officials, stating they serve as advisors and friends with common interests but hold no business or financial interests with the association or its members.