Thai police say the billionaire family of the Red Bull energy drink heir accused of killing a police officer in a hit-and-run has struck a deal that will pay the officer's siblings less than $100,000.

Vorayuth Yoovidhya is charged with driving the Ferrari that struck the officer and dragged his body down a Bangkok street earlier this month.

Police Lt. Col. Viradon Thubthimdee says the Yoovidhya's have paid the officer's siblings 3 million baht ($97,000). He said Wednesday the settlement will protect Vorayuth from a civil lawsuit.

The payment is being viewed by many as a pittance for a family worth $5.4 billion. It will likely do little to quell public outrage over the incident and an initial attempt to cover up Vorayuth's alleged involvement by arresting a bogus suspect.