Prasit Jeawkok, the ‘saintly tycoon’ turned billion-baht fraud suspect

20 Sept 00:54 Key points summarised by AI

Prasit Jeawkok, a businessman celebrated for his philanthropy and 'reformed gangster' image, faces accusations of orchestrating a Bt1-billion investment fraud.
Hundreds of investors reported losing money after being enticed by promises of high returns from Prasit's diverse ventures, which he maintained was crowdfunding, not a pyramid scheme.
Prasit meticulously built a public persona as a generous giver and self-proclaimed royalist, even boasting military connections, which helped him gain trust before the alleged scheme unraveled.
Police have arrested five alleged accomplices in the scam, including an Army lieutenant colonel, as Prasit continues to claim political persecution and blame external factors for his business difficulties.

Suchada: Meet the reluctant star of Thailand’s cryptic crypto drama

Today 15:38 Key points summarised by AI

Thai MP Suchada Zhang Thaensap faces intense scrutiny over her husband’s substantial 1.84 billion baht wealth, with opposition lawmakers alleging connections to international scam networks.
A significant portion of her husband, Taiyang Zhang's, declared assets includes a 1.44 billion baht loan to the now-bankrupt cryptocurrency hedge fund Three Arrows Capital, which still owes him 1.34 billion baht.
Opposition MP Rangsiman Rome accused Suchada's husband of links to online scam networks and gambling sites, prompting Suchada to vehemently deny the claims, demand evidence, and file a defamation complaint.
Taiyang Zhang's background includes co-founding Ren Protocol, later sold to Alameda Research (linked to the FTX collapse), and some of his former associates have been convicted in crypto company failures.
Suchada, a former actress and first-time MP, maintains her husband's innocence, while her party leaders have distanced themselves from the allegations, deeming it a private matter.