22 implicated with U Fund Ponzi scheme sentenced to 20-50 years

 

 

Twenty-two executives and officials of U Fund pyramid scheme were sentenced to jailterms ranging from 20 to 50 years after they were convicted with a string of charges ranging from public fraud, violations against Computer Crime Act and Transnational Crime Act.

 

Twenty-one other defendants were acquitted, including former Chart Thai Pattana Sirichoke Siriwattana.

 

94 people implicated in operating the Ponzi scheme have been arrested and the first group of 44 of them were indicated in the court while the case of the remaining is still pending investigation. Altogether 164 arrest warrants were issued.

 

Full Story: http://englishnews.thaipbs.or.th/22-implicated-u-fund-ponzi-scheme-sentenced-20-50-years/

 

-- © Copyright Thai PBS 2017-3-22

50 years for fraud, but for murder? Where are we?

Actually in prison,or out on bail.

regards worgeordie

13 minutes ago, worgeordie said:

Actually in prison,or out on bail.

regards worgeordie

...and already out of Thailand?

good to hear ....   these crooks wreaked many lives and families ..

This is very positive news, these people are scum systematically defrauding people of their savings

 

It will be good when some of this justice is dealt to the overseas boilerhouse scammers also operating from thailand

On 3/22/2017 at 8:22 PM, wakeupplease said:

50 years for fraud, but for murder? Where are we?

Money  crime. Dead people seem to have  only brief sentimental  value.

On 22/03/2017 at 8:22 PM, wakeupplease said:

50 years for fraud, but for murder? Where are we?

 

For premeditated murder it is the death sentence, this is Thailand.

8 minutes ago, Shawn0000 said:

 

For premeditated murder it is the death sentence, this is Thailand.

These guys stole loads of money hurt loads of people I am happy they get some punishment though 50 years is quite a lot but we all know they wont serve that much. 

They will serve five or so years, then the magical 'Pardon season"  arrives, but this does show the inconsistancies in sentencing  by the Thai Courts - how many get off with murder or sentenced to 6 - 7 years, or not at all because of their age (19 yo girl in vehicular homicide)  or the all famous "I was drunk defense"   Boggles the mind.

Edited March 24, 20179 yr by TunnelRat69