Last updated on October 9th, 2024 at 08:24 am
- Why It Matters: This case highlights the intersection of cannabis business opportunities and legal disputes, especially as Thailand navigates the legalization of cannabis.
- The Big Picture: Professor WIRACHAIโs acquittal could pave the way for more professionals to enter the cannabis industry with confidence, as cannabis regulations tighten.
- What To Watch: Public perception of cannabis-related businesses and the ongoing legal battles that could shape Thailandโs cannabis industry.
BANGKOK, THAILAND โ In a significant legal victory, ASSOC. PROF. DR. WIRACHAI PHUTTAWONG, a prominent chemistry professor at Kasetsart University, has been cleared of accusations related to a 150 million baht fraud scheme involving a cannabis project. The case, which began in 2022, accused WIRACHAI of embezzling funds from a cannabis business venture. The court has now ruled in his favor, stating that there was no fraudulent activity.
The case was initially brought to the public eye by a prominent businessman, SUTHI THANANAN SIRIN, who claimed WIRACHAI had mismanaged and diverted funds from a collaborative cannabis project. However, the Phetchaburi Civil Court recently dismissed these charges, concluding that WIRACHAI had acted in good faith throughout the venture.
WIRACHAI took to social media to express relief, stating that the ordeal had tarnished his reputation as he faced over 40 lawsuits during the case’s proceedings. “I was publicly accused of theft, and many people turned against me because of these false claims,” WIRACHAI said in a Facebook post. He also mentioned that the ruling has restored his professional standing and reputation.
Cannabis has been a controversial issue in Thailand, especially as the government has begun to ease restrictions on its medical and commercial use. While the plant’s legalization has opened up new business opportunities, it has also led to disputes like this one. Many cannabis proponents hope that the ruling will encourage greater transparency and fairness in future cannabis-related ventures.
Contributing Sources: Workpoint News.
