Thai court sentences Prasit Jeawkok to 1,210 years in loan scam case

The court’s decision followed a case brought by prosecutors from the Economic and Resource Crime Division against Nuea Lok Co, Ltd, Web Sawasdee Public Co, Ltd, Prasit, and several associates after an extensive investigation into large-scale fraudulent financial activities.

Prasit, together with the two companies, was found guilty on multiple counts of fraud and illegal public borrowing. He was convicted on 242 separate counts, each carrying a five-year sentence, resulting in a combined total of 1,210 years imposed by the Criminal Court.

The two companies were each fined 121 million baht, later reduced to about 80 million baht due to partial cooperation during legal proceedings, following consideration of mitigating factors presented to the court.

Prasit’s sentence was subsequently adjusted to 806 years and 8 months. Another defendant, Wimgrit, was convicted of supporting the scheme and initially sentenced to more than 111 years, later reduced to 74 years, 8 months, and 29 days after sentence reductions were applied by the court.

However, under Thai law, both men will serve a maximum of 20 years, while the court also ordered compensation for 267 victims affected by the fraudulent investment schemes.

Previously, on July 3 of 2023, Prasit was sentenced to 1,155 years in a separate fraud case, with the sentence similarly capped at 20 years under Thai law, reflecting the legal limits imposed despite the severity, scale, and widespread financial impact of the offences committed.