A Thai fraudster was sentenced to more than 13,000 years of imprisonment after committing fraud, and admitting running a Ponzi scheme, reported BBC News.
The 34-year-old fraudster identified as Pudit Kittithradilok, was able to persuade 40,000 people to invest in his companies with the promise of higher financial returns.
He was able to receive a hefty amount of $160 million or a sum of Dh585.2 million, said the report.
Authorities also found him guilty with many other different fraud schemes. But with Kittithradilok’s confession, the court halved his sentence to 6,637 years and six months.
As for his victims, the court fined his companies $20 million each and was ordered to pay all his victims with a 7.5% annual interest.
