logo
In the rough: Thai tycoon jailed for golf course land fraud

In the rough: Thai tycoon jailed for golf course land fraud

IOL News02-05-2025

A picture of a jail cell. He was sentenced to 24 years alongside 10 other defendants including his daughter, who was handed a 12-year jail term.
A Thai court has jailed a billionaire businessman for 24 years after expanding his luxury golf resort into a nature reserve, local media said.
Anti-graft prosecutors filed a case in 2021 accusing metal magnate Prayudh Mahagitsiri of colluding with officials to obtain land deeds to extend his Mountain Creek Golf Resort and Residences.
The 900-acre (360-hectare) 27-hole resort in Nakhon Ratchasima province, northeast of Bangkok, bills itself as "a sensory multiplex for those with lofty desires".
But authorities said 74 acres added to the development fell within areas protected by conservation laws.
The Central Criminal Court for Corruption and Misconduct on Thursday found 79-year-old Prayudh guilty of multiple charges including bribery and land encroachment, local media outlets said.
He was sentenced to 24 years alongside 10 other defendants including his daughter, who was handed a 12-year jail term.
Prayudh is filing for an appeal, reports said.
He has an estimated net worth of $2.6 billion, according to Forbes, with business interests in steel and coffee.
Forbes ranked him Thailand's 10th richest individual in 2024.
Golf is a major Thai tourism draw, particularly among enthusiasts from Europe, Japan and South Korea.
However the sport is often criticised by environmental campaigners because it converts tracts of wilderness into pruned grass greens requiring intensive watering.
AFP

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Southern Palladium secures A$8m to fast-track Bengwenyama mine development
Southern Palladium secures A$8m to fast-track Bengwenyama mine development

IOL News

time3 hours ago

  • IOL News

Southern Palladium secures A$8m to fast-track Bengwenyama mine development

Southern Palladium said on Thursday it had raised A$8 million (R93m) in a share placement to accelerate development of its Bengwenyama platinum group metals (PGM) project in South Africa. Image: AFP Southern Palladium said on Thursday it had raised A$8 million (R93m) in a share placement to accelerate development of its Bengwenyama platinum group metals (PGM) project in South Africa. The company issued 16 million new shares at A$0.50 apiece, matching its last closing price on June 6 and representing a 10.5% premium to its 10-day volume-weighted average price (VWAP). No options were attached to the placement. One of the company's largest shareholders provided A$4.6m as a cornerstone investment, with the remainder backed by new and existing institutional investors. Southern Palladium said the funds would support the next phase of its Definitive Feasibility Study (DFS) and staged mine development at Bengwenyama, following recent environmental approval for a Mining Right. "This strategic placement provides the group with targeted funding support at an important juncture as we execute on the transition of Bengwenyama, a tier-one PGM project globally, towards staged mine development,' executive chairman Roger Baxter said in a statement. "In particular, we are pleased to have attracted such strong support from our existing institutional investors, led by a cornerstone investment from one of our largest shareholders, while also attracting new institutional investment - marking a vote of confidence for both the quality of the resource and our stated development strategy for the Bengwenyama PGM project" The company plans to publish an optimised Pre-Feasibility Study (PFS) shortly, incorporating a two-stage development strategy aimed at reducing initial capital costs. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Baxter said the placement would give the company a strong cash runway as it progresses towards early-stage mine development at what he described as 'one of the last premier greenfield PGM opportunities in the Bushveld Complex.' Shares issued under the placement will rank equally with existing shares and be listed on the Australian Securities Exchange. The placement was conducted within the company's existing issuance capacity under ASX Listing Rules 7.1 and 7.1A. BUSINESS REPORT Visit:

Macron threatens social media ban for minors
Macron threatens social media ban for minors

IOL News

time5 hours ago

  • IOL News

Macron threatens social media ban for minors

French President Emmanuel Macron is calling for a ban on social media for teenagers under 15 Image: Ludovic MARIN / AFP France will block social media access for children under 15 'within a few months' if the EU does not take coordinated action, French President Emmanuel Macron stated following a deadly knife attack at a local school. 'We must ban social media for those under 15,' Macron told the broadcaster France 2 on Tuesday. Hours earlier, a 14-year-old student attacked a 31-year-old teaching assistant during a school bag check for weapons in Nogent in eastern France. He then injured a police officer with the same knife and was arrested at the scene, according to the National Gendarmerie. 'I'm giving us a few months to get the European mobilization going. Otherwise... we'll start doing it in France. We can't wait,' Macron said. The student, described as well-behaved and with no prior issues, had participated in anti-bullying activities and came from a stable family. The victim, a mother of two, had reportedly worked at the school since September. Macron said social media was one of the factors to blame for violence among young people as the incident was not an isolated case. In April, a high school student in western France fatally stabbed a girl and injured three boys before being arrested. Writing on X after the interview, Macron said such regulation was backed by experts. 'Platforms have the ability to verify age. Do it,' he wrote. Earlier this year, 200 schools in France began piloting a 'digital break,' barring students under 15 from using smartphones during school hours. The Education Ministry also stepped up school security, with random bag checks leading to 186 knife seizures in two months this spring. Spain and Greece are also backing a plan to require age verification technology on all internet-connected devices. The proposal would make such verification mandatory for platforms such as Facebook and X. The European Commission and several EU states are developing pilot programs to test age checks and parental controls. However, progress is being slowed by differing regulations across EU countries and the ease with which users can access social media platforms from outside the bloc. In Russia, restrictions introduced in September ban students from using mobile phones in schools, allowing exceptions only in emergencies. RT News

Trump says he could forgive Musk
Trump says he could forgive Musk

IOL News

time7 hours ago

  • IOL News

Trump says he could forgive Musk

The US president had a public feud with the Tesla CEO that devolved to personal insults Image: Brandon Bell / Getty Images via AFP US President Donald Trump says he could forgive Elon Musk after a public falling-out that saw the Tesla CEO lash out over one of the administration's flagship policy initiatives. The dispute between the two men, who were once close allies, turned ugly last week over what Trump called his 'Big Beautiful' tax and spending bill. Musk, who recently stepped down as head of the Department of Government Efficiency (DOGE), repeatedly criticized the bill, arguing it undermined his efforts to cut waste from the federal budget. Musk accused Trump of 'ingratitude,' while backing calls for his impeachment and threatening to hamstring the US space program by grounding the Dragon spacecraft. Trump fired back, saying Musk had 'gone crazy,' blaming the spat on the end of the 'EV mandate' – a reference to federal incentives that had benefited Tesla. Musk responded with a now-deleted post that linked Trump to deceased convicted pedophile Jeffrey Epstein. In an interview published by The New York Post on Wednesday, Trump said 'I have no hard feelings. But I was really surprised that that happened.' He called the bill 'phenomenal' and said he was disappointed by Musk's response. 'When he did that, I was not a happy camper.' Asked if he could forgive Musk, Trump replied: 'I guess I could,' adding that he was now focused on how to 'straighten out the country.' Hours before the interview aired, Musk appeared to say he was sorry about attacking the president. He wrote on X that he regrets 'some of my posts about President @realDonaldTrump last week,' adding that 'They went too far.' Musk did not clarify which of his posts he was referring to. Media reports have suggested that his associates and the White House are engaged in backchannel communications aimed at easing tensions. Asked about the apology in a follow-up call with the Post on Wednesday morning, Trump said: 'I thought it was very nice that he (Musk) did that.' RT News

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store