rooster59 Posted December 29, 2017 Share Posted December 29, 2017 Thai man gets 13,275 years jail for 5 billion baht Ponzi scheme - but will do only 20 Image: Daily News A man who ripped off more than 1000 people to the tune of 5 billion baht has been sentenced to 13,275 years in jail. This was based on prison time for each offence. But due to the fact that he helped in the investigation and there is a limit on jail time Phudis Kittitharadilok, 34, will only serve a maximum of 20 years. The crimes were committed between August 2015 and September 2016 and involved conning investors organizing seminars in the name of two companies - The System Plug and Play Co Ltd and International Holding Co Ltd. He has also been ordered to repay 1.3 billion baht. Yesterday the criminal court in Rachada Phisek read the detailed judgment against Phudis before he was taken back to Bangkok Special Prison to begin his two decades behind bars. Source: Daily News -- © Copyright Thai Visa News 2017-12-29 Link to comment Share on other sites More sharing options...
surangw Posted December 29, 2017 Share Posted December 29, 2017 the sot did not keep enough aside to buy his way out of trouble ? Link to comment Share on other sites More sharing options...
jaywalker Posted December 29, 2017 Share Posted December 29, 2017 40 minutes ago, rooster59 said: The crimes were committed between August 2015 and September 2016 5 billion baht in 13 months? That's 384+ million baht a month! This guy had skills! Too bad he did evil instead of good with them. Link to comment Share on other sites More sharing options...
lazygourmet Posted December 29, 2017 Share Posted December 29, 2017 51 minutes ago, surangw said: the sot did not keep enough aside to buy his way out of trouble ? Sure that he did... Soon or later, he will commit suicide in jail and (another) body will be cremated on prison premises. Link to comment Share on other sites More sharing options...
Rhys Posted December 29, 2017 Share Posted December 29, 2017 ...well this is justice... ask the investors... Link to comment Share on other sites More sharing options...
speedtripler Posted December 29, 2017 Share Posted December 29, 2017 The Thai Bernie Madoff...... Link to comment Share on other sites More sharing options...
Basil B Posted December 29, 2017 Share Posted December 29, 2017 Me think unless they can trace all the money he will be out of prison in 20 years, probably less, living a life of Riley... Link to comment Share on other sites More sharing options...
observer90210 Posted December 29, 2017 Share Posted December 29, 2017 Scamming and cheating people of their money, probably also the elderly with their entire lives savings, deserves no mercy....the guy deserves to rot in jail !!...And let it serve as an example to other similar scum !.... I do not have the slightest ounce of admiration for such a criminal.... Link to comment Share on other sites More sharing options...
jerojero Posted December 29, 2017 Share Posted December 29, 2017 Excellent! 20 years later he was collects his billions and lives like a king into retirement. Sent from my [device_name] using http://Thailand Forum - Thaivisa mobile app Link to comment Share on other sites More sharing options...
Bluespunk Posted December 29, 2017 Share Posted December 29, 2017 7 hours ago, rooster59 said: He has also been ordered to repay 1.3 billion baht What about the other 3.7 billion baht he stole? Link to comment Share on other sites More sharing options...
ezzra Posted December 29, 2017 Share Posted December 29, 2017 49 minutes ago, Bluespunk said: What about the other 3.7 billion baht he stole? Duh, why do you think he'll only do 20 years out of the 13,275 he was given? just because he ' helped with the investigations"?.... Link to comment Share on other sites More sharing options...
Bluespunk Posted December 29, 2017 Share Posted December 29, 2017 (edited) 8 minutes ago, ezzra said: Duh, why do you think he'll only do 20 years out of the 13,275 he was given? just because he ' helped with the investigations"?.... He’s only doing 20 years as that is the maximum amount of time he can legally serve on the 2 charges he was convicted of, according the bbc article I read on this story. http://www.bbc.co.uk/news/world-asia-42518255 Edited December 29, 2017 by Bluespunk Link to comment Share on other sites More sharing options...
alfalfa19 Posted December 30, 2017 Share Posted December 30, 2017 (edited) doesn't make sense. i calculate 5 billion to equal about 166 million dollars. it says he conned 1000 investors. that would equal 166,000 dollars per sucker? i must be missing something. edit: ok, never mind. upon reading the article, it mentions 40,000 investors, which would work out to about 4000 dollars per sucker, which makes more sense. Edited December 30, 2017 by alfalfa19 just cuz Link to comment Share on other sites More sharing options...
chicowoodduck Posted December 30, 2017 Share Posted December 30, 2017 Seems about right for Thailand.....and for good behavior....??? Link to comment Share on other sites More sharing options...
Bob12345 Posted December 30, 2017 Share Posted December 30, 2017 9 hours ago, jaywalker said: 5 billion baht in 13 months? That's 384+ million baht a month! This guy had skills! Too bad he did evil instead of good with them. If only Thailand went back to the "cash days" then this guy would have to stop cause otherwise he would sleep in the street with his house filled up with 1.000 baht notes. Moving the cash on a daily basis, putting it in a pickup, securing it, driving it home, unloading it, would already take most of his day. And you cant hire Burmese to do that for you for 300 baht a day. All i want to say is that the amount of money is almost unimaginable to me. Link to comment Share on other sites More sharing options...
malcoml Posted December 30, 2017 Share Posted December 30, 2017 I need to meet this guy... As the founder of McDonalds said. ”Let’s franchise this” Link to comment Share on other sites More sharing options...
malcoml Posted December 30, 2017 Share Posted December 30, 2017 Oh forgot to mention.... somehow he he managed to escape on transit to the prison and was last see in Singapore or was that Dubai. on a serious note I wonder what the statue of limitations are on this. Link to comment Share on other sites More sharing options...
lucjoker Posted December 30, 2017 Share Posted December 30, 2017 3 hours ago, Bluespunk said: What about the other 3.7 billion baht he stole? that was to pay the arrangement : " 20 year term , change of name , out in a week , plastic surgery not needed ( nobody would dare to touch a big-shot who is protected) the rest of the money he can keep ( and he can earn some more if he wants, but this time he will not forget to share with the judges) Link to comment Share on other sites More sharing options...
klauskunkel Posted December 30, 2017 Share Posted December 30, 2017 After the government's grand idea to rehab prisoners convicted of making and modifying guns by giving them jobs in the military, I'd say this guy is definitely Finance Ministry material. Link to comment Share on other sites More sharing options...
soalbundy Posted December 30, 2017 Share Posted December 30, 2017 3 hours ago, Bluespunk said: What about the other 3.7 billion baht he stole? stop making trouble Link to comment Share on other sites More sharing options...
HuaHinHim Posted December 30, 2017 Share Posted December 30, 2017 Would do less time if he killed someone. If the maximum jail sentence is 20 years why do they bother with the theatrics of 13,000+ years? I’ll never understand it Link to comment Share on other sites More sharing options...
BuaBS Posted December 30, 2017 Share Posted December 30, 2017 He's ready to be a central banker , or a job on Wall str. Link to comment Share on other sites More sharing options...
KKr Posted December 30, 2017 Share Posted December 30, 2017 8 hours ago, observer90210 said: Scamming and cheating people of their money, probably also the elderly with their entire lives savings, deserves no mercy....the guy deserves to rot in jail !!...And let it serve as an example to other similar scum !.... I do not have the slightest ounce of admiration for such a criminal.... Whereas I agree with you that the admiration is misplaced, I would also like to point out that the many sentences concurrent is something that looks interesting. Moreover, and as a side observation, the sentencing, looking at some other cases that were recently in the news, indicates what has the higher value, a life or someone's wealth. Link to comment Share on other sites More sharing options...
Moti24 Posted December 30, 2017 Share Posted December 30, 2017 5 hours ago, Bluespunk said: What about the other 3.7 billion baht he stole? Who said crime doesn't pay! Link to comment Share on other sites More sharing options...
The Theory Posted December 30, 2017 Share Posted December 30, 2017 (edited) 12 hours ago, rooster59 said: will only serve a maximum of 20 years. 20 years max. Does not mean he will serve 20. Perhaps just a few years.? Edited December 30, 2017 by The Theory Link to comment Share on other sites More sharing options...
wavemanwww Posted December 30, 2017 Share Posted December 30, 2017 I think he spent 3.7 billion securing a place at CRYOGENICS to freeze his body as his lawyer said to him he may get 13,275 years jail time! Link to comment Share on other sites More sharing options...
12DrinkMore Posted December 30, 2017 Share Posted December 30, 2017 Quote The court fined his two companies the equivalent of $20m each. Pudit and the firms were ordered to repay around $17m to the 2,653 identified victims, with 7.5% yearly interest. - We have figures of 1,000, and 40,000 and now 2,653 "victims". - Only $17m back to tthe victims? But it is a bit of a bummer that the court takes fines of $40m, roughly 25% of the total amount stolen, surely this should be returned to the victims as well? As usual in Thailand accuracy of statements issued by the authorities and reporting standards fall short, with the population just lapping it up and not questioning anything except what's to eat. Link to comment Share on other sites More sharing options...
sammieuk1 Posted December 30, 2017 Share Posted December 30, 2017 The crime more serious than vaping found. Link to comment Share on other sites More sharing options...
TConthePC Posted December 30, 2017 Share Posted December 30, 2017 Must have had a great lawyer!!! Link to comment Share on other sites More sharing options...
Stoker58 Posted December 30, 2017 Share Posted December 30, 2017 "He has also been ordered to repay 1.3 billion baht." That's a bit optimistic. Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now