Thai fraudster 😱 sentenced to 13,275 years in prison 🔨
A Thai court has sentenced a fraudster to more than 13,000 years in prison.
Pudit Kittithradilok, 34, admitted running a Ponzi scheme whereby he promised investors artificially high financial returns.
He is unlikely to serve more than 20 years, as Thai law sets a maximum 10-year term for each of the two crimes he was convicted of.
Prosecutors told the court that Pudit organised seminars where attendees were encouraged to invest in what he said were businesses linked to property development, beauty, used cars and exports, among other things.
As with any pyramid scheme, these new cash injections would then be used to pay off the earlier backers.