Thai Celebrities Acquitted in High-Profile Forex-3D Ponzi Scheme Trial
PUBLISHED: 26 Dec 2024 at 19:23
The Criminal Court delivered a pivotal verdict on Thursday, acquitting four individuals, including prominent Thai celebrities, while sentencing three others to a combined total of 49,125 years in the notorious Forex-3D Ponzi scheme. The case, which has garnered significant media attention, involved substantial financial fraud amounting to billions of baht.
Among the acquitted are Pattanapon Kunjara, known as “DJ Man,” and singer Suteewan Thaweesin, also referred to as “Baitoey.” The court found insufficient evidence linking them to the fraudulent activities implicated in the Forex-3D scheme.
The case, involving seven defendants, highlighted the manipulative tactics used to lure investors. Prosecutors outlined that over 9,800 individuals were convinced to invest a staggering 2.49 billion baht between November 2015 and September 2020, predominantly through social media invitations.
Notably, Daryl Cai, a Singaporean and husband of a notable model, was one of the key figures in the trial. Despite accusations of involvement, the court determined that there was no substantial evidence proving his role as a leading member in the Ponzi operation.
In its ruling, the court stated that meetings depicted in photographs involving Cai, Kunjara, and Thaweesin were personal and did not demonstrate any business entanglement. Furthermore, it stressed that the absence of promotional messages undermined claims of advertising for the scheme.
In stark contrast, the court convicted Chatchai Khotchathin, Theeraphassakorn Kimwangtako, and Suranart Nakmusik, sentencing them to the lengthy prison terms for their multiple offenses within the scheme. A statutory maximum limits their actual prison time to 20 years.
Additionally, the court mandated restitution payments totaling 2.47 billion baht plus interest to the victims of the fraud, ensuring accountability for the extensive financial losses incurred.
Following the verdict, emotional scenes unfolded as Kunjara and Thaweesin embraced each other in tears, expressing gratitude towards the court. This ruling marks a significant chapter in one of Thailand’s most high-profile fraud cases, which has captured the nation’s attention since its inception.
