Swedish businessman Otto Kreuger was on 14 August sentenced to a one year prison term by a court in Nonthaburi and ordered to pay the plaintif 10 million baht.
The case relates to a Thai businessman’s purchase of a submarine from Sweden. Mr. Kreuger was contracted to transport the submarine to Pattaya, where it was to be used in the torusim industry. However, the submarine went down in the North sea west of Denmark.
The Swedish businessman was immediately arrested and no bail was set. Otto Kreuger pioneered the Swedish real estate boom in Thailand with his BOI supported Scandinavian Village project in Bang Saen.