Thai man gets 13,275 years jail for 5 billion baht Ponzi scheme - but will do only 20

[speedtripler]

16 hours ago, Bluespunk said:

What about the other 3.7 billion baht he stole?

Cocaine and hookers.... 

[bristolgeoff]

he has allready got good behaviour time for prison.bonus

[wazzupnow]

On 12/29/2017 at 10:41 PM, 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.

any chance of hiring him? he is my hero

[padgebkk]

On 12/29/2017 at 10:29 PM, surangw said:

the sot did not keep enough aside to  buy his way out of trouble ?

I'm sure he did.

But check out the amount and number of people he scammed ... average of about 5,000,000 baht each for 1,000 people ... You don't think the people he scammed had influence too?

[marquis22]

On 12/30/2017 at 4:58 AM, jerojero said:

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
 

Only 3.7 bill as he ripped off 5 billion baht, but the poor fella has been ordered to repay 1.3 billion baht.  

[Jim walker]

Was his sentence halved for him cooperating with the investigation can he apply for bail after 12000 years 

[GOLDBUGGY]

On 12/29/2017 at 10:41 PM, 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.

I was sort of thinking the same thing.

 

That is 5 Billion on 1,000 Investers. That is 5 Million apeace. I don't even know 5 guys who have 5 Million on them to invest let alone 1,000 of them.  

[car720]

On 12/30/2017 at 5:36 PM, biplanebluey said:

I'll have to look that one up ???????????

Thou shalt not get caught.

[GOLDBUGGY]

18 hours ago, marquis22 said:

Only 3.7 bill as he ripped off 5 billion baht, but the poor fella has been ordered to repay 1.3 billion baht.  

Let's say he was able to stash away B 3.7 in some hidden bank account. Let's do some simple math. But first I find it difficult to believe that  guy with all these Billions will spend the full 20 years in prison. With unlimited legal aid. 

 

But anyway having B 3,7 and if he did spend 20 years in prison, he would have in the bank 185 Million Baht for every year he spent there. In otherwards about $113 Million Dollars in total. I also think that in prison and with this kind of money he can buy certain things to make his life more pleasant there. Like better food. Maybe even better accomodations? 

 

Can't say I would do this for 20 years in prison, as I wouldn't live long enough to enjoy the benefit. But some younger guy,  and perhaps getting out a lot sooner???

[sanemax]

6 minutes ago, GOLDBUGGY said:

Let's say he was able to stash away B 3.7 in some hidden bank account. Let's do some simple math. But first I find it difficult to believe that  guy with all these Billions will spend the full 20 years in prison. With unlimited legal aid. 

 

But anyway having B 3,7 and if he did spend 20 years in prison, he would have in the bank 185 Million Baht for every year he spent there. In otherwards about $113 Million Dollars in total. I also think that in prison and with this kind of money he can buy certain things to make his life more pleasant there. Like better food. Maybe even better accomodations? 

 

Can't say I would do this for 20 years in prison, as I wouldn't live long enough to enjoy the benefit. But some younger guy,  and perhaps getting out a lot sooner???

The nature of Ponzi schemes involves paying out to investors  with that money coming from newer investors , so, its highly likely that he paid that 3.7 Billion to older investors .

   Im not saying that he didnt secretly stash some money away , but ponzi schemes collapse when theres no new money coming in to pay off the older investors and then they start to ask for their money back

[GOLDBUGGY]

29 minutes ago, sanemax said:

The nature of Ponzi schemes involves paying out to investors  with that money coming from newer investors , so, its highly likely that he paid that 3.7 Billion to older investors .

   Im not saying that he didnt secretly stash some money away , but ponzi schemes collapse when theres no new money coming in to pay off the older investors and then they start to ask for their money back

Good Point.

 

It would be a total aggeration on my part to think he did walk away with B 3.7 Baht. 

 

But it would not be an aggeration to say that not all older investors complained to the police when they did not get there money back. Nobody wants to be known for being a fool! Especially the Rich and Famous. I also highly doubt that this type of organization cares too much about Money Laundering.

 

A Ponzi Scheme does involve having the new investors pay the older ones (at first) to attract new investors. But if they continued to do this and then run out of Investors, there is no money to be maded by the Schemer. Which of course goes against the whole major plan. 

 

Somewhere along the way, and usually when the bottom of this Pyramid is large enough, he takes this money and puts it into his own bank account. Thus not investing this money or paying the older investors. So it is not like he takes the first Investors money, and then uses the next to Investors to pay him off, and so on. He does at first to keep the game alive, but his big take comes at the end, and not the beginning. 

[sanemax]

8 minutes ago, GOLDBUGGY said:

Good Point.

 

It would be a total aggeration on my part to think he did walk away with B 3.7 Baht....... 

 

 

Maybe the money that hes been ordered to pay back  1.3/7 million Baht is the outstanding money that was given to him by investors  and not paid back .

   Its highly unlikely that the authorities will allow him to profit out of this scheme , thats not to say that he didnt secretly stash some of the money away somewhere

[ZAKY]

He should get a reward for being so clever; can you imagine? He tricked 1000 people!