Bangkok: The Criminal Court has sentenced Prasit Chiawkook to an unprecedented 1,210 years in prison for defrauding the public, with his close associate receiving a 111-year sentence.
According to Thai News Agency, the Ratchada Criminal Court delivered the verdict in a high-profile case where the Public Prosecutor's Office for Economic and Resource Crimes 1 brought charges against Nuerlok Co., Ltd., represented by its authorized director Prasit Chiawkook (Defendant 1); Web Sawasdee Co., Ltd. (Maha Chon), also represented by Prasit (Defendant 2); Prasit himself in his role as the former chairman of the "Returning the Land to the People" project (Defendant 3); along with other individuals (Defendants 4, 5, and 6). The charges involved jointly defrauding the public through fraudulent loan schemes and violations of the Computer Crime Act, deceiving numerous victims into investing. Initially, the defendants pleaded not guilty and were remanded in custody.
The court found Defendants 1-3 guilty under the Emergency Decree on Borrowing, conspiracy to defraud the public, and conspiracy to fraudulently borrow money. The harshest penalties under the Emergency Decree were imposed as the actions constituted multiple offenses. Mr. Prasit was sentenced to 1,210 years imprisonment for each of the 242 counts of fraudulent borrowing. Defendants 1 and 2 were fined 121 million baht each, reduced by one-third due to cooperation, resulting in fines of approximately 80 million baht each. Mr. Prasit, Defendant 3, received a sentence of 806 years and 8 months.
Defendant No. 5 was found guilty under the Emergency Decree on Borrowing as an accomplice, sentenced to 37 counts of 3 years and 4 months each, totaling 111 years and 148 months. With mitigating circumstances, the sentences were reduced by one-third for each count. Defendant Nos. 1 and 2 companies were fined approximately 80 million baht each. Mr. Prasit, Defendant No. 3, received a reduced sentence of 806 years and 8 months, while Defendant No. 5 was sentenced to 74 years, 8 months, and 29 days.
However, when all charges are combined, the court sentenced Mr. Prasit, defendant number 3, and Mr. Wimkrit, defendant number 5, to 20 years imprisonment each, in accordance with the law. Defendants 1-3 are also ordered to jointly return money to the 267 victims. Defendants 4 and 6 are acquitted but are to be detained pending appeal.
Reporters noted that previously, on July 3, 2023, the Criminal Court sentenced Mr. Prasit to 1,155 years in prison for a related fraud case involving fraudulent borrowing from the public. However, by law, the maximum sentence is 20 years imprisonment. The defendants were also ordered to compensate the victims with over 1 billion baht.