Thai housemaid’s 100 million baht fortune hits a legal snag

[frankie machine]

what a terrible letdown for that woman.   the money will no doubt be divvied up by high up government slimeballs.  

[thailand49]

What a shame continuous greed if the law was truly being applied there would be lots of Thai leaders not having money.

 

[nobodysfriend]

12 hours ago, snoop1130 said:

Police identified two Thai nationals, 50 year old Thongssai Katisuk and 36 year old Ratchaprapa Soreda, as shareholders in Catherine’s company. Investigators suspect the two acted as nominees, enabling Catherine to register her company and hold land on the island illegally.

 

One could ask if the ' setting up a company with thai shareholders ' practise was only tolerated because the government can take over the company and confiscate all assets in case that ...

[NorthernRyland]

2 hours ago, thesetat2013 said:

She did everything wrong. She bypassed the Thai laws paying some Thais to use their names as 51% ownership so she could open her business and buy land using the business name. 

 

I've heard of so many people doing this. I've even seen people publicly on YouTube say this is how they acquired their property. Thai people don't care about the law unless they can directly profit from it. 

 

If it was so easy to take your assets for illegal nominees they would be doing this all day but apparently it's too much hassle and ugly confrontation for them or something so they wait until your dead first.

[Thingamabob]

Sadly, it was always unlikely that Tim was going to be able to obtain her inheritance. TIT, she was always going to be pushed to the back of the line.

[Tropicalevo]

7 hours ago, Liverpool Lou said:

Who is the "everyone" and the "all" to whom you refer as taking money from her?

At a rough guess, the lawyers that set up the businesses, the accountants who are supposed to do due diligence, the people in local government who probably issued dodgy land titles/building permits (quite common on Samui) etc etc.

[topt]

2 hours ago, jacob29 said:

I hope there's a mistake in the report, and the lady still gets jewellery/cash not connected to the property.

The gf mentioned this yesterday from the Thai news and said that she only gets to keep the gold/cash so hopefully that is the case.

[Tropicalevo]

3 hours ago, ukrules said:

 

That statement right there tells us all what will happen to everyone who used a company to purchase any property.

 

They intend to take it all. Second time in a week I've read something that led me to believe this is playing out right now.

Absolute rubbish and fear mongering.

I run a company and it owns the house that I live in.

The company has been trading for more than 20 years - all taxes, VAT and fees paid up to date.

There are 13 employees excluding myself - all Thais.

So why should your 'prediction' happen to me (and probably hundreds of thousands of others).

[Surasak]

9 hours ago, richard_smith237 said:

Sickening...  Pigs at the trough... 

Quite agree, but pigs don't like to share.

[lordgrinz]

Yes, invest in Thailand, your money is safe ...Not.

[1happykamper]

13 hours ago, snoop1130 said:

and all of Catherine’s assets will eventually become state property following the conclusion of the legal proceedings

Another day in paradise. 5555 555. The maid gets nothing. So very wrong. 

[CallumWK]

29 minutes ago, Tropicalevo said:

Absolute rubbish and fear mongering.

I run a company and it owns the house that I live in.

The company has been trading for more than 20 years - all taxes, VAT and fees paid up to date.

There are 13 employees excluding myself - all Thais.

So why should your 'prediction' happen to me (and probably hundreds of thousands of others).

 

Because maybe, just maybe, you have set it up the correct way. Which is by creating a real estate holding company, that owns property, does business and has a real balance sheet on which the company pays income taxes.

Hundreds of thousands don't have that.

They created a limited company that owns the house in which they live, do no business, and their accountant files a fake balance sheet every year, on which they pay a minimum of income taxes.

[crazykopite]

And this will happen to all who have set up companies for house ownership the whole thing stinks of corruption so where will this estate go to at the end of the day certainly it won’t be the innocent lady Kim You can’t win either way get a lease for 30 years and it would be worthless the whole thing’s absolutely stinks and what will happen with the crooked lawyers and accountants will they be charged I doubt it 

[quake]

The Hub of dishonesty strikes again.

 

[baansgr]

Why didn't she just have 2 shareholders she knew, one being Tim, and it would have been legal, doesn't make sense especially when such large sums of money are involved

[crazykopite]

3 hours ago, ukrules said:

 

That statement right there tells us all what will happen to everyone who used a company to purchase any property.

 

They intend to take it all. Second time in a week I've read something that led me to believe this is playing out right now.

When I came to Thailand 20 years ago I knew then that any money I invested had to be money that I knew I could lose and I was prepared for that 20 years later if it happens it happens  I have a friend who has a bulldozer !

[baansgr]

8 minutes ago, crazykopite said:

And this will happen to all who have set up companies for house ownership the whole thing stinks of corruption so where will this estate go to at the end of the day certainly it won’t be the innocent lady Kim You can’t win either way get a lease for 30 years and it would be worthless the whole thing’s absolutely stinks and what will happen with the crooked lawyers and accountants will they be charged I doubt it 

Not if it's done properly 

[john donson]

9 hours ago, CallumWK said:

When will the next post from the experts on here appear stating, the government will never take action against the limited companies registered to own real estate?

Oh wait, wasn't there a news article just yesterday about the intention of the government taking action about exactly that?

 

they can use this one as a first example and start to impound / steal all others...

[Theforgotten1]

So what is the difference between a legit company and a fake company? Is it the workings of company and tax paid .   Who are the police to decide the outcome of the will, surely it should be a court of law 

[ThaiPauly]

3 hours ago, jacob29 said:

Agree sounds like outright theft. If the lady was still alive, and the nominee fraud was discovered, surely she wouldn't be stripped of *all* her assets - just the properties plus maybe a fine.

 

I hope there's a mistake in the report, and the lady still gets jewellery/cash not connected to the property.

 

Edit: I'm almost certain the article is a little off, other reports state company assets will be seized, which won't be everything. If that's not the case.. well people can look forward to tax audits finding irregularities, maybe some undeclared remittances, resulting in your entire estate going to the state 😂. I can't see it working like that.

She needs to get a good lawyer  but as she has no personal wealth, he or she wouod have to be willing to take on the case pro bono

[TheFishman1]

Yeah you think the house made we get the jewelry in the cash and other assets to all foreigners that have the same type of agreement with the corporations and company they start be aware when you pass and die guess who’s getting it the cops are just keep getting richer and richer TIT

[simon43]

What about the 3 cats?

[hotchilli]

10 hours ago, Tropicalevo said:

Whilst the French lady was alive, everyone was happy with the status quo - all taking money from her.

Now that she is dead, the ultra-rich and local politicians are circling like vultures.

Absolutely, they were happy for her to invest her millions of baht to buy land, and build property giving her all the green lights,

Now she's gone and wanted to hand the estate to the husband and maid they are trying to find every conceivable way to claw it all back saying it was illegally done... funny how nothing was said when the money was flowing in before?

[AdamRich]

I remember when the lady died, people said the maid would never see the money. Predictable.

[gravity101]

13 minutes ago, baansgr said:

Why didn't she just have 2 shareholders she knew, one being Tim, and it would have been legal, doesn't make sense especially when such large sums of money are involved

Tim would be classed as a nominee also. This was stolen, plain and simple, I have no doubt the French lady knew the same as we all do on here and assumed it was protected as best she could and given TO A THAI is a lovely gift that hurts no one, back in full Thais hands. I feel sorry for her, lucky she won't know.

[Docno]

Well, at least the money is going to 'The State', which clearly means it will be used for the betterment of Koh Samui and the well-being of its people... WAIT - wrong forum (wrong reality?) 

[zepplin]

13 hours ago, snoop1130 said:

 

A Thai housemaid on Koh Samui, an island in the southern province of Surat Thani, is unable to claim a 100-million-baht estate left to her by her deceased French employer due to illegal actions surrounding the foreigner’s business.

 

The 59 year old French businesswoman, Catherine Delacote, took her own life on April 29 of this year by shooting herself at her luxury villa on Koh Samui. CCTV footage from the property showed Catherine using a mop to turn the camera away before shooting herself in the temple.

 

Reports indicate that Catherine died by suicide due to her battle with cancer. Her Thai housemaid, Natwalai, also known as Tim, told the police that her employer frequently expressed her struggles with the illness.

 

The story drew public attention when details of Catherine’s will emerged. The will, drafted before her death, stipulated that she wished to leave two luxury villas to her ex-husband Vincent and the remainder of her assets which were valued at about 100 million baht to her housemaid, Tim.

 

The assets Tim was set to inherit included luxury villas with plots of land worth around 30 million baht, cash, savings in bank accounts, jewellery, other valuables, and even Catherine’s three beloved cats.

 

In an interview with several news outlets, Tim expressed her astonishment at Catherine’s decision. She revealed that she had lived with Catherine for about 17 years, starting from when the Frenchwoman was staying in a rented room.

 

 

Tim had been by Catherine’s side throughout her journey of building rooms, resorts, and luxury villas for rent. As Catherine’s business expanded, she moved to Koh Samui, purchasing land and constructing five luxury villas for personal use and rental purposes.

 

Illegal registration and nominees

 

While the story initially inspired heartwarming sentiments, it also raised questions about the legality of Catherine’s business operations and land ownership.

 

This prompted an investigation by the police and Surat Thani Provincial Administration officials. The inheritance intended for Tim was put on hold pending the outcome of the investigation.

 

After more than seven months of inquiries, Surat Thani Provincial Police announced today, November 26, that Tim would not be able to claim the assets because officials discovered illegal practices in Catherine’s business dealings.

 

Police identified two Thai nationals, 50 year old Thongssai Katisuk and 36 year old Ratchaprapa Soreda, as shareholders in Catherine’s company. Investigators suspect the two acted as nominees, enabling Catherine to register her company and hold land on the island illegally.

 

A law firm was also implicated in providing consultation and facilitating the unlawful registration of Catherine’s company. Police would summon all relevant parties for questioning and to face legal charges.

 

Due to these illegal activities, Tim is denied the inheritance, and all of Catherine’s assets will eventually become state property following the conclusion of the legal proceedings.

 

By Petch Petpailin

Photo via KomChadLuek

 

Source: The Thaiger

-- 2024-11-26

 

 

Agh the Thai gov is shooting them selves the the foot again, it’s all legal , unt they want to get their stump greedy hands on prop that they have absolutely no right to! Just about every villa on samui is owned exactly the same way!  There goes any future investment in Thailand- straight out the window ! How stupid can this gov be?

[lordgrinz]

40 minutes ago, crazykopite said:

the whole thing stinks of corruption so where will this estate go to at the end of the day 

 

Spread among the men in brown, for all their hard work in rooting out this criminal enterprise. Good thing their suspect/defendant is dead and can't defend herself.

[zepplin]

1 hour ago, NorthernRyland said:

I've heard of so many people doing this. I've even seen people publicly on YouTube say this is how they acquired their property. Thai people don't care about the law unless they can directly profit from it. 

 

If it was so easy to take your assets for illegal nominees they would be doing this all day but apparently it's too much hassle and ugly confrontation for them or something so they wait until your dead first.

Pick any 1000 ferang owned homes on samui, and guess what . 1000 have been bought exactly the same way! 
F stupid government, so short sighted!

there goes investment in Thailand, right out the window!

[ronster]

26 minutes ago, Theforgotten1 said:

So what is the difference between a legit company and a fake company? Is it the workings of company and tax paid .   Who are the police to decide the outcome of the will, surely it should be a court of law 

A Thai and their foreign partner can own a company and the house will be registered to that company as the place the company is run from or registered too and the Thai can have 51% and their non Thai partner 49% of company ownership.

The dodgy ones are a foreigner owns a company and registers the home to that company. They own 49% of company but the other part is named to nominees who don't know each other usually etc and and are paid a few thousand to use their name in the company. The Thai nominees never usually have anything to do with the accounts or business once it is set up and the foreigner just pays taxes made up by a lawyer .