BANGKOK: A court in Thailand has handed down a total of 13,275 years of imprisonment on a man for cheating more than 2,500 people, involving 570 million Baht (about RM73 million), through a bogus investment scheme. However, under the law, the 34 year-old man will only serve a maximum of 20 years in actual prison time. The court sentenced him to five years for each of the 2,653 counts of public fraud and another ten years for money laundering, bringing the total jail terms handed to the man to 13,275 years. Meanwhile, the chairman for anti-pyramid investment scheme association, Samart Jenchaijitwanich said about 40,000 people were cheated into investing in the scam, involving about 5.3 billion Baht (about RM670 million). He called on the authorities to amend the law on public fraud to provide for a heavier penalty.

Source: New Strait Times December 30, 2017 09:11 UTC