PHOTO: Emerald Development Group Facebook page
Bail has been denied at a hearing in the Phuket Provincial Court earlier today in the case of Sawit ‘Mai’ Ketroj who was arrested at Phuket International Airport on May 1 over a case involving alleged fraud related to the Emerald Development Group.
Khun Mai’s lawyers say they will appeal the decision of the Court not to grant bail. The prosecuting lawyers say they’ll submit an objection during any appeal hearing.
Read the earlier story HERE.
The fraud charges relate to the Emerald Kalim Patong Nirvana, Emerald City Life Condo Patong, Emerald Terrace, Patong, Emerald Ao Nang Condo in Krabi and The Emerald, Central.
On Tuesday Tourist Police Deputy Commander Maj Gen Surachet Hakpan said that the suspect had admitted that he has a lack of financial resources and that construction hadn’t commenced at some of the properties.
“There are many other projects that might be in the same situation (with people paying deposits but the construction never commencing). There are more than 300 victims, most of them are foreigners. Embassies have been informed to warn their citizens about the situation. The cost of damages from this case is now estimated at a billion baht.”
One Phuket lawyer is representing cases which, alone, total over 120 million baht in damages.
The bail hearings continue today.