Thread: Ponzi scheme operators get over 12,000 years in prison

The Criminal Court sentenced a man and a woman to 12,640 years in prison each on Wednesday, after finding them guilty of operating a Ponzi scheme.


The sentences were based on 2,528 acts of fraud committed by Wantanee Tippaveth and her boyfriend Metee Chinpa between March 9th, 2019 and October 30th, 2020.


The losses incurred by investors in the “Mae Manee” Ponzi scheme reached billions of baht and the couple were ordered to pay compensation to the people they defrauded.


The scheme scammed hundreds of people by offering returns of up to 93% a month on their investments.


The Court dismissed the charges against seven other defendants, because they were just employees who had no knowledge of the scam.


The Court also halved the prison terms for the couple because they confessed.


Despite the extraordinary length of the sentences, under Thai law Wantanee and Metee will be imprisoned for a maximum of 20 years each.

Ponzi scheme operators get over 12,000 years in prison | Thai PBS World : The latest Thai news in English, News Headlines, World News and News Broadcasts in both Thai and English. We bring Thailand to the world

Originally Posted by misskit

12,000 years in prison

Golly, that's substantial!

6 years per count of fraud?

Originally Posted by misskit

The scheme scammed hundreds of people by offering returns of up to 93% a month on their investments.

Even at my age, having seen frauds of so many shades over the decades, I remain amazed that there are hundreds of people willing to believe that they are getting a great deal at 93% a month.
We need a new word, gullible doesn't go far enough.

As I keep saying, Thai are the stupidest, most credulous folk on the planet. I reckon they’d give Septics a good run for their money.

We need a new word, gullible doesn't go far enough.

the word you are looking for is chickenhead.

Originally Posted by Seekingasylum

As I keep saying, Thai are the stupidest, most credulous folk on the planet. I reckon they’d give Septics a good run for their money.

Yes , you do keep saying that.

Over and over. And here comes your wobbly head mate ,following you around. Hoping to be as miserable as you ?perhaps. That would take some beating i reckon

bld, do us all a favour and keep your repetitive and obsessive insults out of the news threads. Your mental health is of some concern, perhaps there are some pills lying around your house that you might helpful.