Pudit Kittithradilok, 34 a con artist in Thailand has been sentenced to thirteen thousand, two hundred and seventy-five years’ jail term.
He was charged with 2,653 counts of fraud against approximately 40,000 people which after he pleaded guilty to organizing a Ponzi scheme in Thailand that earned his companies upwards of $160m.
Due to him coming clean and confessing his jail term was reduced by half which now makes it 6,637 years and six months.
Prosecutors told the court he operated on his victims by enticing them during seminars then seducing them into investing in numerous businesses.
Once they were signed they were told to bring more people in order to gain more cash but this was a facade an everyday pyramid scheme where the money was just used to pay people that came in earlier
The Bangkok Post reports Pudit is only likely to serve a 20-year sentence because Thailand has a 10-year maximum sentence for the two crimes he admitted,
But he willl have to repay his victims $17m and has had his businesses fined $40m
The suspect was arrested in August and is being held in Bangkok Remand Prison.