Thai coffee-and-steel magnate Prayudh Mahagitsiri in the soup over land-grabbing case to appeal 24-year jail term

Prayudh Mahagitsiri is one of Thailand’s richest men known for his business empire spanning coffee, steel, and hospitality.

Ranked as Thailand’s 10th richest individual by Forbes in 2024, Prayudh has an estimated net worth of $2.6 billion.

On Thursday (May 1), the Central Criminal Court for Corruption and Misconduct sentenced Prayudh, 79, and nine others — including his daughter Ausana Mahagitsiri, who received a 12-year sentence — for offenses including bribery and encroachment.

On Tuesday (May 6), the tycoon has vowed to appeal a 24-year prison sentence handed down by Thailand’s anti-corruption court in connection with an alleged illegal land acquisition tied to his luxury golf resort.

Anti-corruption case

Mahagitsiri called the court ruling a politically-motivated case.

In a statement issued to Forbes, Prayudh called the ruling “an unfortunate political court case,” adding that the charges stemmed from land surveys conducted nearly two decades ago.

“The accusations are from the National Anti-Corruption Commission (NACC)... and it was dug up to accuse the government officials of wrongdoing in surveying the land to issue the land title deeds,” he said.

Luxury golf course, 5-star hotel complex

The case involves the Mountain Creek Golf & Resort & Residence in Nakhon Ratchasima, northeast of Bangkok, which Prayudh’s company, PM Group, developed into a sprawling 27-hole golf course and five-star hotel complex.

Authorities alleged that the resort's land area expanded by an additional 74 acres (30 hectares) into a conservation zone, beyond its original 900-acre (369-hectare) size.

Bail

Both were granted bail at 1 million baht (approximately $30,000) each but are barred from leaving the country during the appeal process.

Prayudh, who has consistently denied wrongdoing, criticised the verdict, stating: “The circumstances provided the judge to declare a verdict of this ‘supposed’ wrongdoing and a sentence of 24 years in jail for me. This sentence is even more severe than killing someone.”

His portfolio includes Quality Coffee Products, a long-time joint venture with Nestlé, which formerly produced Nescafé in Thailand.

The partnership ended in 2024 amid legal disputes over the Nescafé trademark, now solely licensed to Nestlé following a ruling by the Central Intellectual Property and International Trade Court.

Ecological footprint

In addition to coffee and steel investments — such as POSCO Thainox, a partnership with South Korea’s POSCO — Prayudh’s family holds several major restaurant franchises in Thailand, including Pizza Hut, Taco Bell, and Krispy Kreme.

While golf remains a key attraction for tourists in Thailand, environmental advocates frequently criticise the sport’s ecological footprint, particularly when developments infringe on forest or protected land.