030828Z JAN 18


The man ran a Ponzi scheme, such a scheme defined as:
a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading.


A Thai court has sentenced a fraudster to more than 13,000 years in prison.

Pudit Kittithradilok, 34, admitted running a Ponzi scheme whereby he promised investors artificially high financial returns.

About 40,000 people were persuaded to pour more than $160m (£120m) into his companies.


From CIW NEWS Contributor

Thailand crime

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Bangkok, Thailand

Thailand (TH) is estimated to have a population of 68.1 million with a growth rate during 2010-2015 of 0.4% pa.
At the same rate of change, in five years' time its population will increase by 1.4 million.