The suspects were accused of luring $266 000 from 18 women before they were arrested Monday at a Bangkok apartment.
They Nigerians chatted with their victims for more than a month to persuade the women they loved them, Panu said.
The suspected men then told their victims they had shipped valuables to them as gifts, posting photos and fake invoices of the expensive items. The accomplice then then allegedly posed as a government official and told the victims they had to pay customs duties for clearance.
The victims were instructed to pay the duties via bank transfer.
Panu said the internet fraud ring was believed to have 70 members and their leader was based in Malaysia.
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