Bangkok: The court has sentenced Prasit Chiawkook to 343 years in prison for defrauding the public. He was also fined 200,000 baht and ordered to compensate 173 victims, including interest.

According to Thai News Agency, the Criminal Court scheduled a hearing to deliver its verdict in the case where the Public Prosecutor's Office for Economic and Resource Crimes 1 acted as the plaintiff. Mr. Prasit Chiawkook, along with Nuerlok Co., Ltd., Mandaweed Co., Ltd., and Web Sawasdee Co., Ltd. (Maha Chon), were defendants accused of orchestrating fraudulent loan schemes and violating the Computer Crime Act.

Upon reviewing the evidence from the prosecution, the court found the defendant guilty and sentenced him to five years of imprisonment for each count, adding up to 343 years. However, given the legal maximum penalty, the sentence was reduced to 20 years. The court also imposed a fine of 200,000 baht and ordered compensation to 173 victims.

The fraudulent activities occurred between December 3, 2020, and May 2021, where the defendants used advertising and social media to deceive the public and at least ten individuals. They created a website and a Line application group to promote investment schemes, promising high returns. However, the defendants failed to deliver on these promises, instead using the invested funds to repay other victims. Ultimately, the scheme netted them 102 million baht from the victims.