Thailand's Forex-3D Verdict: A Tale of Two Outcomes – 49,110 Years for the Masterminds, Acquittal for Celebrity Endorsers

On August 13, 2026, Thailand's Criminal Court delivered a verdict in one of the kingdom's most high-profile financial fraud cases—the Forex-3D investment scandal. The ruling produced a starkly divided outcome: former Forex-3D executive Apiruk Kothi and four co-defendants were convicted and handed nominal prison terms of 49,110 years each, while celebrity actress Savika "Pinky" Chaiyadej, along with her mother and brother, were acquitted of all charges.

The case, which has captivated Thai public attention since 2019, involved nearly 10,000 investors who collectively lost more than 2.48 billion baht to a scheme that promised professional foreign-exchange trading, guaranteed profits, and 100% principal protection. 

CASE BACKGROUND: The Forex-3D Ponzi Scheme

The Forex-3D scheme operated between November 2015 and September 2020. Through its website (www.Forex-3D.com) and Facebook page, the operation lured investors with promises of returns as high as 60-80% per year, backed by claims of professional traders managing the funds. In reality, the defendants never invested the money in actual foreign-exchange trading.

The Department of Special Investigation (DSI) opened the case in 2019. Apiruk Kothi, the scheme's CEO, was arrested in January 2021 after more than a year on the run. In August 2022, prosecutors indicted 19 defendants—including Pinky, her mother Sarinya Chaiyadej, and her brother Kittichet (formerly Sarayut)—on charges of public fraud and violations of the Computer Crime Act. Their case was later consolidated with an earlier prosecution against Apiruk and four others, bringing the total number of accused to 24.

Five defendants, including former Forex-3D executive Apiruk Kothi, were convicted and sentenced to a nominal 49,110 years in prison each. Under Thai law, however, the actual prison term is capped at 20 years. The court also ordered them to jointly pay 4.911 billion baht in compensation, plus 7.5% annual interest.

In contrast, actress Savika “Pinky” Chaiyadej, her mother, and her brother were among 17 defendants acquitted. The court found insufficient evidence that they had participated in managing or operating the scheme.

Pinky had maintained that she was also an investor and had lost more than 10 million baht in the case. The verdict ultimately drew a distinction between those who operated the alleged fraud and those who were merely investors or associated with the scheme.

For Investors and Victims

The 4.911 billion baht restitution order against the convicted defendants offers a path—however uncertain—toward compensation. However, collecting such sums from convicted fraudsters is notoriously difficult, and victims may never fully recover their losses.

As the dust settles on this protracted legal battle, one thing remains clear: the nearly 10,000 victims who lost their life savings to Forex-3D will continue to seek justice. Whether the convicted defendants can ever repay the 4.911 billion baht owed—and whether the Thai legal system can prevent similar schemes from emerging—are questions that will linger long after the courtroom doors have closed.