Forex 3-D investment fraudsters sentenced to almost 50,000 years in prison

10 Sept 01:57 Key points summarised by AI

Three key figures in the Forex-3D investment scheme were handed an unprecedented 49,125-year prison sentence each for defrauding 9,824 investors of 2.5 billion baht.
Despite the extensive initial sentence, the actual prison term was reduced to a maximum of 20 years per individual, with an additional order to pay 2.5 billion baht in compensation plus interest.
Four other defendants, including celebrities Pattanapon Kunjara Na Ayudhaya ("DJ Man") and Suteewan Taweesin ("Bai Toei"), were acquitted due to insufficient evidence, a decision that may face an appeal from prosecutors.
The Forex 3-D operation was identified as a large-scale Ponzi scheme, luring investors with promises of high returns from foreign exchange trading and utilizing celebrity endorsements to enhance its credibility.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.