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Phuket condo mogul Sawit posts bail on fraud charges

PHUKET: Sawit Ketroj, the prominent Phuket condo developer arrested last week on a fraud charge, has posted bail, police have confirmed to The Phuket News.

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By The Phuket News

Wednesday 9 May 2018, 04:54PM


Emerald Group CEO Sawit Ketroj during questioning by police last Wednesday (May 2). Photo: Suthicha Sirirat

Emerald Group CEO Sawit Ketroj during questioning by police last Wednesday (May 2). Photo: Suthicha Sirirat

Mr Sawit, CEO of the Emerald Group of companies, posted bail approved by the Phuket Provincial Court yesterday (May 8), Capt Ekkachai Siri of the Phuket Tourist Police confirmed to The Phuket News this afternoon.

The bail request was approved while the formal charge of a breach of Section 22 of the Consumer Protection Act by providing false statements through advertisements published via the internet and other media was presented to Mr Sawit at the court.

However, Capt Ekkachai could not confirm the amount bail was posted at.

The bail approval came despite police requesting that bail be denied. (See story here.)

Mr Sawit surrendered himself at Patong Police Station last Wednesday (May 2). He was wanted on an arrest warrant issued by the Phuket Provincial Court in October last year.

Following police receiving an initial complaint from one buyer against Mr Sawit for not delivering condo units as agreed by contract despite receiving more than B2.8 million in payments, Mr Sawit now stands accused of defrauding investors of a total of more than B127.5mn, explained Tourist Police Chief Surachet Hakpan last week. (See story here.)

Zest Real Estate

“Police began monitoring the projects in question and observed that the no progress was being made in the construction of the units, but the advertising of the units for sale continued,” Gen Surachet said.

“Hence, police moved forward with pressing the charge (against Mr Sawit),” he added.

The charge relates to many condo units in Emerald Group projects in Phuket and Krabi, noted police in their report.

Specifically, the charge relates to units in the following projects:

  • The Emerald City Life Condo Patong
  • The Emerald Ao Nang Condo (Krabi)
  • The Emerald Terrace Patong
  • The Emerald - Central

Capt Ekkachai today (May 9) urged any persons affected by failure of the Emerald condo projects to file complaints directly with the Patong Police Station.

He added that he expected the police investigation to take about one month to gather the required evidence to hand the case over to the Phuket Public Prosecutor’s Office for further action.

 

 

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CaptainJack69 | 09 May 2018 - 21:59:48

Hmm... bail... yup, he's not a flight risk. It's not like he already fled the country and has only now come back after seven months as a wanted man or anything.

What does it take for wealthy Thai's to actually be denied bail? I mean really.

Kurt | 09 May 2018 - 17:24:26

Sure, when you are a thai Mogul you push for bail.
Anyway, they are mostly in thai category ....no juridical hurts, just buy yourself out.
Keep the bail, and not disturb me any longer, thank you.
Nice Photo, 3 of the 4 police officers dozed away or look in the 'is not my affair mood', as this sure will go over their head.
Bail approved! Hello, notice the fraud amount.

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