Bangkok Court Acquits Celebrities in Forex-3D Ponzi Scheme Case

In a dramatic turn of events, the Bangkok Criminal Court has acquitted three celebrity defendants in the high-profile Forex-3D Ponzi scheme case, which involved nearly 2.5 billion baht and affected 9,825 victims. The court’s decision was announced on December 26, 2024, bringing relief to the acquitted individuals but also sparking questions about the case’s handling and the broader implications for financial fraud in Thailand.

Background of the Forex-3D Case

The Forex-3D scheme, one of Thailand’s largest Ponzi schemes, was orchestrated by Apirak Kothi, who was arrested in January 2021. The scheme lured thousands of people into investing in a fake foreign exchange trading platform through Facebook, promising high returns. The case involved seven defendants, including Singaporean Daryl Cai Yonghui, Thai celebrity Pattanapon “DJ Man” Kunjara, and singer Suteewan “Baitoey” Thaweesin, who were charged with colluding in obtaining loans to defraud, public fraud, and inputting false information into a computer system.

The Verdict

The court acquitted Sutheewan, Pattanaphol (her former husband), and Daryl Cai Yonghui, citing insufficient evidence and unclear financial trails linking the three to the offenses. The court found that the evidence presented did not sufficiently prove their involvement in the scheme. Sutheewan, who had been detained for six months, expressed her relief, stating that she was overjoyed for her child as the family could finally reunite for the New Year.

Key Points of the Verdict

– Acquittal of Celebrities: The court acquitted Sutheewan, Pattanaphol, and Daryl Cai Yonghui due to insufficient evidence.
– Sentencing of Other Defendants: Three other defendants were sentenced to 49,125 years each for their roles in the scheme, but their sentences were capped at 20 years under Thai law.
– Restitution: The convicted defendants were ordered to pay 2.47 billion baht in restitution to the victims, plus 7.5% annual interest starting from April 11, 2021.

Implications and Reactions

The acquittal of the celebrities has sparked mixed reactions, with some questioning the fairness of the legal process. Sutheewan emphasized her innocence and thanked her supporters, stating that she had always complied with the law throughout the process. She also urged society to treat her and DJ Man fairly.

Future Legal Proceedings

– Appeal: The prosecutor may decide to appeal the acquittal, and Sutheewan’s legal team is prepared to fight the case at all levels.
– Public Perception: The case highlights the need for transparency and accountability in financial fraud cases, ensuring that justice is served for all victims.

Lessons from the Forex-3D Case

The Forex-3D case serves as a reminder of the dangers of Ponzi schemes and the importance of vigilance in financial investments. It also underscores the need for robust legal frameworks and effective enforcement to protect investors and deter fraudsters.

Key Takeaways

– Due Diligence: Investors must conduct thorough research and due diligence before investing in any scheme.
– Regulatory Oversight: Strong regulatory oversight is crucial to prevent and detect financial fraud.
– Legal Accountability: The legal system must hold perpetrators accountable and ensure justice for victims.