Man Sentenced to 2,673 Years Total for Investment Fraud Scam
A man was sentenced to 2,673 years in prison for defrauding 173 victims of 102 million baht through fake investment schemes promising annual returns of up to 164 percent, operating through social media and travel membership companies betwee
On August 5, 2025, the Criminal Court on Ratchadamri Road delivered its verdict in case DSP.638/2567, prosecuted by the Economic and Natural Resources Crime Division against Prasit Chiaowkok and three companies—Nuea Lok Limited, Mandavid Limited, and Web Sawadee Public Limited (a public company)—charged with conspiracy to commit investment fraud and computer crimes. The prosecution's case alleged that Prasit, as executive director of defendants 2–4, operated tourism and investment businesses that recruited members to purchase discounted travel packages domestically and internationally, organized by membership tier with advance payment required. The defendants offered below-market service rates and claimed to guarantee refunds as vouchers or cash rebates of 1–10 percent if services went unused. Defendant 4 also operated a travel business booking hotel rooms and domestic airline tickets at discounted rates for registered members.
Between December 3, 2020, and May 2, 2021, all four defendants allegedly conspired to deceive and disseminate false information through social media advertising, videos, online messaging groups, and direct solicitation. They created websites and LINE groups named "The President's Private Fund," "Sawadee Giftback," and "MBD," using employees to promote investment schemes through video clips. The scheme deceived 173 victims who invested a combined 102 million baht. The defendants promised to pay returns at rates of 83.95–164.25 percent annually but lacked the ability to pay principal and returns. Instead, they cycled victim funds through various schemes without generating legitimate investment returns.
The prosecution sought convictions under multiple statutes including the Deception in Borrowing Money Act of 1984 (Sections 3, 4, 5, 9, 11/1, 12, 15) and the Computer Crimes Act of 2007 (Sections 3, 14(1)), and ordered all four defendants to jointly repay all 173 victims with 7.5 percent annual interest until full settlement.
Defendant 1 confessed during trial and was held in custody at Bangkok Central Prison. After reviewing testimony and evidence from both sides, the court found the victims' accounts credible and the prosecution's witnesses reliable, ordering all four defendants to repay the victims. The court convicted defendant 1 of multiple offenses and sentenced him to five years' imprisonment per charge.
