Kata Rocks
THE PAVILIONS PHUKET BRITISH INTERNATIONAL SCHOOL, PHUKET Kata Rocks
The Phuket News Novosti Phuket Khao Phuket

Login | Create Account | Search


Ex-Chula lotto swindler gets prison sentence of 250 years

Ex-Chula lotto swindler gets prison sentence of 250 years

BANGKOK: The Criminal Court has sentenced a former chairman of Chulalongkorn University’s savings cooperative to 200 years and 600 months in jail for swindling 100 people out of B183.7 million in a lottery quota investment scam.

crimepolice
By Bangkok Post

Thursday 8 November 2018, 09:08AM


Sawad Saengbangpla, the 80-year-old former chairman of Chulalongkorn University’s savings cooperative, arrives at the Criminal Court on Ratchadaphisek Rd yesterday (Nov 7). He was sentenced to 250 years for luring people into an investment scam. Photo: Bangkok Post / Tawatchai Kemgumnerd

Sawad Saengbangpla, the 80-year-old former chairman of Chulalongkorn University’s savings cooperative, arrives at the Criminal Court on Ratchadaphisek Rd yesterday (Nov 7). He was sentenced to 250 years for luring people into an investment scam. Photo: Bangkok Post / Tawatchai Kemgumnerd

Sawad Saengbangpla, 80, was taken from the Bangkok Remand Prison to the court on Ratchadaphisek Road to hear the ruling yesterday (Nov 7).

According to the prosecutors, between January 2016 and June 2017 Sawad invited people to invest in a savings cooperative, which he claimed would be used to purchase a quota from the Government Lottery Office for lottery ticket sales.

He also falsely promised to return all the money, including the yield to investors in the final month of investment, prosecutors said.

Mr Sawad confessed to the public fraud charge during the trial. The court initially handed down a five-year sentence for each of Mr Sawad’s 100 offences, but the sentence was later commuted to two and a half years per offence due to his confession.

Laguna Golf Phuket

Despite the centuries long jail term, Sawad will likely serve just 20 years in jail due to his age and the maximum prison term.

He was also ordered by the court to pay compensation ranging from B3mn to B39mn to each of the 100 victims, along with interest payments.

 

Read original story here.

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

CAPTCHA

Be the first to comment.

Have a news tip-off? Click here

 

Phuket community
Karon Police reveal details of Norwegian arrested for death of Brit at Phuket resort

Your initial reporting on this story were completely ridiculous. Many other outlets reported the sam...(Read More)


Norwegian tourist charged for killing British man at Phuket resort

Wrong K,especially in SEA i had the same experience as G.with those fruit baskets and straight blade...(Read More)


Phuket officials whittle down routes for ‘Bike Un Ai Rak’ mass-cycling event

K,this event isn't meant to be a tourist attraction.Why do you hijack it for your rant about be...(Read More)


Karon Police reveal details of Norwegian arrested for death of Brit at Phuket resort

Just like everywhere else in the world, only a judge can decide if bail is granted, police can only ...(Read More)


Rescue workers trap three monitor lizards in houses and gardens in Kathu

Kurt,they were released into their natural habitat.Same as they do with snakes.Should they give a wa...(Read More)


Norwegian tourist charged for killing British man at Phuket resort

Kurt,I can't remember being with you in the same room wherever i stayed.So please tell me how do...(Read More)


Phuket officials whittle down routes for ‘Bike Un Ai Rak’ mass-cycling event

Un Air Rak? Warmth of love? How about to experience that first at Phuket beaches, in Phuket taxis, v...(Read More)


Rescue workers trap three monitor lizards in houses and gardens in Kathu

Yes GerryT81, that is true. But Phuket officialdom should warn foreign tourists about it on forehand...(Read More)


Norwegian tourist charged for killing British man at Phuket resort

Sorry GerryT81. Fruit baskets never come with a steak knife. And any kind of burger by room service ...(Read More)