The gang targetted the wives of expat men living on Phuket because the wives sometimes run businesses and have access to larger sums of money.
The latest victim - owner of a beauty shop in Karon, on Phuket's west coast, and married to an expat - was fortunate.
Police had been closing in on the gang and caught a woman gang member fleecing the beauty shop owner through playing a tradition game of fan tan.
The beauty shop owner met the female Buffalo Gang member when she offered to broker the sale of the beauty parlor.
Often, other gang members will arrive during the game, playing different roles. The victim is usually allowed to win large sums before being fleeced in the end.
The woman and her four male accomplices set up the victim in Karon yesterday but the police intervened and spoke to the beauty shop proprietor when she left the card game to buy something to eat.
Alleged gang member Supanee Sanganan, 46, confessed and gave police the names of other gang members.
So far the four men arrested have denied being involved. They have been named as Kamon Boonrung, 50, Somchai Somsuk,46, Pairoj naboon, 34, and Thanapol Kochadate,35.
Karon police are continuing the investigation.