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scotinsiam
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Posts posted by scotinsiam
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Was it girl he hired? Not clear from the story i heard it was a katoey but may be false.
Sent from my SM-P601 using Thaivisa Connect Thailand mobile app
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Stay away from deep spots to prevent drowning..........thats geat advice. Out of curiosity where are the deep spots
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Lot of <deleted> being talked here - surely actual news from people in the City about visability and air quality more relevant than some dubious data from whoever - just saying
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Yesterday International Adviser magazine published an online update with more details on the LM Investment situation: "Figures reveal huge scale of LM fund sales by advisers" http://www.international-adviser.com/news/products/figures-reveal-huge-scale-of-lm-fund-sales
Hope this is of some help to those in Thailand who are affected.
thanks
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looks horrible, hopefully just poor camerawork ....
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Dukes is hard to beat in Chiang Mai for Pizza and western food in general.
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then try learning Thai Buddhist beliefs. Don't give up, rather educate and submerge your self in thai culture and then truly you will be of some helpI came across a bad car accident last week, 1 car involved and a (now broken) concrete telegraph pole. Later that morning I was passing it again and had one of the Thais in the car take a photo so we could use it at our daily morning safety meeting to try promoting safety on the road......They are all educated (Thai Engineers) and had zero concern about the fate of the occupants but were all worried about ghosts near the accident. I give up on these idiots.
keep trying....Sent from my i-mobile i-STYLE 8.2 using Thaivisa Connect Thailand mobile app
LOL, my health insurance won't cover a labotomy
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I came across a bad car accident last week, 1 car involved and a (now broken) concrete telegraph pole. Later that morning I was passing it again and had one of the Thais in the car take a photo so we could use it at our daily morning safety meeting to try promoting safety on the road......They are all educated (Thai Engineers) and had zero concern about the fate of the occupants but were all worried about ghosts near the accident. I give up on these idiots.
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Thai pilots saying Mai Pen Rai then landing anyway
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Whats NAC?
Sent from my SM-P601 using Thaivisa Connect Thailand mobile app
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Where is Muang Mai market?
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use a hammer
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Is this what the world has come to - people commenting on an alleged slur on a car show - <deleted> get a life.
Anyone with a single digit IQ understands that the show is about cars, man toys and is supposed to be FUN anyone offended by his comments should turn over and watch some brain numbing crap about some sad <deleted> auctioning off their family tortoise or whatever pathetic.
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What kind of punishment does he get from this? Does anyone know?
They will cut his hair into a 21st century style and burn his clothes
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probably just checking all the girls were over 80kg and 40 years of age
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Here is an update
Drake transferred funds to de facto as his LM group failedDate February 17, 2014Peter Drake. Photo: Louie Douvis
As his billion-dollar fund empire was imploding last year Peter Drake was busy transferring cash to his girlfriend, a move that concealed assets from his creditors and kept the Gold Coast impresario living the high life.
Drake's LM group went into administration in March last year. Between November 2012 and October 2013, the businessman transferred $468,710 into bank accounts operated by his de facto Maria Magi, a native of Estonia.
The details of Peter Drake's asset trail - or at least the Australian and Fijian legs of his asset trail - are contained in an affidavit filed with the Queensland Supreme Court by receivers Bentleys on behalf of the Australian Securities and Investments Commission.
Of the cash transfers to Maria Magi, $242,913 was a refund from the Office of State Revenue, which Bentleys believes ''Mr Drake intentionally set out to conceal from the OSR''. This was a refund from land tax that was originally paid by LM on behalf of Drake.
AdvertisementDrake advised Bentleys in an interview last year that the land tax was "paid into Ms Magi's account to allow her to use the interest as income". It has since been spent on living expenses.
Another $152,316 was transferred to a Maria Magi account with ANZ in Fiji. Drake had a house in Fiji that he transferred into a trust in 2007 in a deal with his ex-wife Belinda Drake. The cash transfer to his girlfriend's account was made as a ''gift'', Drake told the receivers. The gift was given the month after LM collapsed.
''It has led us to believe due to the timing of this transaction … there is no other reason for the purpose of this transfer, other than to move these funds away from Mr Drake and out of the hands of his creditors,'' says the report.
A further $73,480 was transferred via direct deposits from Drake Insurance and its successor, Australian Global Insurance Services (AGIS), where Peter Drake now works - although he is neither a shareholder nor a director. He leases his Mercedes from the business.
Most of those funds have been spent too. A summary of payments from Ms Magi's ANZ Access Advantage Account, between April and September last year, shows ''Transfers to P Drake'' of $21,500, private school tuition $21,370, surgery and cosmetic procedures of $14,033 and Mercedes Benz Finance $24,548. There was $271,114 spent from that account alone during the six month period, including almost $28,000 in ATM withdrawals.
While the sums identified by Bentleys are significant, they represent only a fraction of the money that went offshore before the LM collapse. The Kiwi rugby lover and father of three had $43 million in loans with his funds and companies. The loans were never paid down and the money appears to be gone. Now, with four insolvency groups presiding over the LM carcass, the prospect of a return for LM creditors is slim.
Nevertheless, Peter Drake carries on working in insurance, just down the road from his old LM haunts. The receivers report claims Drake ''intentionally misled'' them about his role at AGIS, saying he had ''no involvement in the business''.
Instead, its investigations indicated that Drake controlled AGIS and had established a discretionary trust of which he was the sole beneficiary. ''He has withdrawn trust distributions of $73,480 from Drake Pty Ltd and AGIS since April 2013 (the month after LM collapsed).''
The receivers found ''there are no assets of any significant value held in the name of Peter Drake''.
Drake and the other directors of LM, none of whom have been bankrupted or prosecuted, presided over an immense destruction of wealth at their mortgage fund empire. At its peak, LM held more than $1 billion in funds under management. Drake valued the business at $3 billion. He was sole shareholder and sole director of most LM entities.
A slew of transactions, particularly in the grossly overvalued Managed Performance Fund, entailed loans to property development companies controlled by Drake himself.
This fund sank $250 million in loans into the Maddison Estate project on the Gold Coast - 60 per cent of the entire fund was concentrated in this one asset. It was valued at $1 billion on completion. But administrators KordaMentha recently reckoned its worth to be just $2 million.
The Maddison project was one of Peter Drake's developments.
BusinessDay sought comment from Peter Drake and Maria Magi for this story.
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Here is an update
Drake transferred funds to de facto as his LM group failedDate February 17, 2014Peter Drake. Photo: Louie Douvis
As his billion-dollar fund empire was imploding last year Peter Drake was busy transferring cash to his girlfriend, a move that concealed assets from his creditors and kept the Gold Coast impresario living the high life.
Drake's LM group went into administration in March last year. Between November 2012 and October 2013, the businessman transferred $468,710 into bank accounts operated by his de facto Maria Magi, a native of Estonia.
The details of Peter Drake's asset trail - or at least the Australian and Fijian legs of his asset trail - are contained in an affidavit filed with the Queensland Supreme Court by receivers Bentleys on behalf of the Australian Securities and Investments Commission.
Of the cash transfers to Maria Magi, $242,913 was a refund from the Office of State Revenue, which Bentleys believes ''Mr Drake intentionally set out to conceal from the OSR''. This was a refund from land tax that was originally paid by LM on behalf of Drake.
AdvertisementDrake advised Bentleys in an interview last year that the land tax was "paid into Ms Magi's account to allow her to use the interest as income". It has since been spent on living expenses.
Another $152,316 was transferred to a Maria Magi account with ANZ in Fiji. Drake had a house in Fiji that he transferred into a trust in 2007 in a deal with his ex-wife Belinda Drake. The cash transfer to his girlfriend's account was made as a ''gift'', Drake told the receivers. The gift was given the month after LM collapsed.
''It has led us to believe due to the timing of this transaction … there is no other reason for the purpose of this transfer, other than to move these funds away from Mr Drake and out of the hands of his creditors,'' says the report.
A further $73,480 was transferred via direct deposits from Drake Insurance and its successor, Australian Global Insurance Services (AGIS), where Peter Drake now works - although he is neither a shareholder nor a director. He leases his Mercedes from the business.
Most of those funds have been spent too. A summary of payments from Ms Magi's ANZ Access Advantage Account, between April and September last year, shows ''Transfers to P Drake'' of $21,500, private school tuition $21,370, surgery and cosmetic procedures of $14,033 and Mercedes Benz Finance $24,548. There was $271,114 spent from that account alone during the six month period, including almost $28,000 in ATM withdrawals.
While the sums identified by Bentleys are significant, they represent only a fraction of the money that went offshore before the LM collapse. The Kiwi rugby lover and father of three had $43 million in loans with his funds and companies. The loans were never paid down and the money appears to be gone. Now, with four insolvency groups presiding over the LM carcass, the prospect of a return for LM creditors is slim.
Nevertheless, Peter Drake carries on working in insurance, just down the road from his old LM haunts. The receivers report claims Drake ''intentionally misled'' them about his role at AGIS, saying he had ''no involvement in the business''.
Instead, its investigations indicated that Drake controlled AGIS and had established a discretionary trust of which he was the sole beneficiary. ''He has withdrawn trust distributions of $73,480 from Drake Pty Ltd and AGIS since April 2013 (the month after LM collapsed).''
The receivers found ''there are no assets of any significant value held in the name of Peter Drake''.
Drake and the other directors of LM, none of whom have been bankrupted or prosecuted, presided over an immense destruction of wealth at their mortgage fund empire. At its peak, LM held more than $1 billion in funds under management. Drake valued the business at $3 billion. He was sole shareholder and sole director of most LM entities.
A slew of transactions, particularly in the grossly overvalued Managed Performance Fund, entailed loans to property development companies controlled by Drake himself.
This fund sank $250 million in loans into the Maddison Estate project on the Gold Coast - 60 per cent of the entire fund was concentrated in this one asset. It was valued at $1 billion on completion. But administrators KordaMentha recently reckoned its worth to be just $2 million.
The Maddison project was one of Peter Drake's developments.
BusinessDay sought comment from Peter Drake and Maria Magi for this story.
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Yes, I've seen them and I don't like them, at all. Not only do they create stacking problems on shelves that used to hold six-packs, two high, but our little drink refrigerator has wire shelves and if they're not placed "just so", then they tip over on the refrigerator shelf.
Yeah, I know there are bigger annoyances in life, but why'd they have to make this change? During the couple weeks they were making the switch, it was difficult to find Coke Zero and Diet Coke in Chiang Mai. Took me back to the Bad Ole Days (actually months) after the floods when it was impossible to find these products.
They also dont stand up in my tin holder in the truck.
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Archers bar
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My view over Doi Suthep was pretty poor today, seeing a lot of small dust particles on my newly valeted truck already!! It certainly was not great today and evne ended up in a bout of sneezing!
Time to head South for a bit.
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Who in their right mind drinks montclair wine
People who object to paying 399 baht for the total crap they now mostly have in the bins at Rimping? When it was 333 baht, they had some pretty good stuff, now its 399 baht, not only has it gone up by 20% the good stuffs gone and been replaced by bottles that taste worse than Montclair!!
Work out the math, 1000 baht for 5 litres or 399 baht for 75 centilitres of similar tasting stuff, and theres your answer!
agreed, I am drinking a 399 Rimping Rioja just now and its in shit state, cork dried out and cloudy - will still drink it however due to lack of supplies.
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Yes, its normal.....
Sukothai head south and keep going
That's one less expat moving in
Not sure what you mean by moving in as I live here anyway. Were you unable to understand my post?
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Yup, just the flower festival. Every year in Feb.
Been here for a few of them but only bought a vehicle last year, I think I will sell it ! went to Moon Muang area for a couple of beers earlier on songtaw and it was brutal - lol
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Hi folks,
I have only been back here for 2 days but am finding the traffic horrible. I have been into the inner moat about 3 times and it's horrible! street stalls - parking / unloading everywhere and the usual skillful driving.
I know the flower festival is on but is this normal? I think I will be heading off for a few days to get away from this madness! Anyone know the best route to Sukhothai
keep trying....
Collusion of song taew drivers? Each and every one wants 100 B!
in Chiang Mai
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he had me confused with Som sip - sounds like a really nice person