Couple given lengthy sentences for Ponzi scheme

Wantanee Tippaveth and her boyfriend Methee Chinnapha were accused of defrauding 2,533 people who invested with them based on promises of unusually high returns of up to 93% a month. Their scam resulted in 1.37 billion baht in damages.

The ruling on Wantanee and Methee was based on 2,528 acts of fraud carried out between March 9, 2019 and October 30, 2020. Each act is punishable by five years in jail.

However, the court took account of their confessions and reduced the sentences to 20 years, the maximum jail term that can be given under Thai law. The court also ordered the couple to pay compensation to the victims.

Separately, the court dismissed charges against seven other defendants, because they were just employees who had no knowledge of the scam.