Ponzi Scheme: Thai fraudster sentenced to 13,275 years in prison
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To Thailand, where a man has been sentenced to more than 13-thousand years in jail for fraud. The 34-year old fraudster, Pudit Kittithradilok, admitted running a Ponzi scheme which induced some 40-thousand people to invest more than 160 million US dollars into his companies. The court sentenced him to five years for each of more than 2,000 counts of fraud, but it then halved the sentence to 6-thousand years because of his confession. However, his two crimes carry a maximum of 10-years, meaning he is unlikely to serve more than 20 years.