Kazakh man reports Phuket investment scam run by Ukrainian and Thai men

[snoop1130]

Photo via MGR Online

 

By Petch Petpailin

 

A Kazakh businessman filed a complaint with the Phuket Governor after being tricked by Ukrainian and Thai men into investing in a real estate project in the province. However, he has not received any profits from the investment.

 

The Kazakh victim, Takhir, initially reported the investment scam to Choeng Thale Police Station. He and his legal team subsequently met with the Phuket Governor, Sophon Suwannarat, today, January 7, to seek assistance from the authorities.

 

During the discussion, Takhir explained that he visited Phuket frequently until he met a Ukrainian real estate agent in the province. The agent offered him a condominium in the Choeng Thale sub-district and later invited him to invest in a new real estate project alongside him and his Thai associate.

 

The project involved the construction of an apartment complex named Layan Green Park, which required an investment of 300 million baht. The project began in 2019, before the pandemic, and the first phase was already completed.

 

The Ukrainian man and his Thai business partner proceeded with the second phase of the project, which is a hotel. The hotel is currently under construction.

 

 

However, Takhir, who was one of the project’s partners, has never participated in any decision-making processes, meetings, or actions related to the project. Moreover, he has not received the financial returns he expected, despite the project’s progress.

 

Takhir revealed that two of his friends were also victims of the scheme. They intend to pursue legal action against the suspects to prevent similar incidents from happening to others.

 

MGR Online reported that Phuket Provincial Police already summoned the two accused suspects for questioning but require further evidence. Takhir and the other victims will also be questioned before additional legal proceedings are taken against the two businessmen.

 

Governor Sophon promised to ensure justice for all parties and issued a warning to foreign investors to avoid making decisions without consulting the relevant authorities. He urged foreigners to contact official organisations, such as the Board of Trade of Thailand or the Federation of Thai Industries, for advice before making investments.

 

According to the report on MGR Online, the accused Ukrainian and Thai businessmen could face up to three years in prison and a fine of 60,000 baht under Section 352 of the Criminal Code, which pertains to embezzlement.

 

Source: The Thaiger

-- 2025-01-08

 

 

[richard_smith237]

It seems Phuket is Scam Central - scams everywhere down there.

 

There is currently stories of another common scam doing the rounds on social media...  

From SubWay at Phuket Airport nonetheless.

 

Tourist's order their Sandwich as per the menu, and are then asked what extra's they want. If they have extra's they are charged an extortionate amount.

 

Recently a lady was forced to pay the equivalent £72 (yes 72 British Pounds) for 3 Sandwiches - when they gave her the price she refused to pay the ridiculous amount and wanted to cancel the order, but the Police were called and she was made to pay. 

 

There have been a handful of similar stories - the Police clearly in on it... how else could 1040 baht be charged for a single subway 6" sandwich.

 

 

 

 

[geisha]

The newspapers should be on hand for every scam in Phuket ( and elsewhere). It’s the only way this madness comes to light. I believe it’s got quite OTT in Phuket.

[firemans35]

11 hours ago, snoop1130 said:

A Kazakh businessman filed a complaint with the Phuket Governor after being tricked by Ukrainian and Thai men into investing in a real estate project in the province. However, he has not received any profits from the investment.

 

11 hours ago, snoop1130 said:

However, Takhir, who was one of the project’s partners,

Was he an investor or partner. There is a difference. Perhaps he was both or he thought he was both.

[Geoffggi]

Come on you guys you all know the correct terminology for such things - Phuket is the HUB of scams in Thailand ..................LOL

[hotchilli]

12 hours ago, snoop1130 said:

However, Takhir, who was one of the project’s partners, has never participated in any decision-making processes, meetings, or actions related to the project. Moreover, he has not received the financial returns he expected, despite the project’s progress.

They wanted your money... not you.

[CharlieH]

Off topic post removed.

[ronster]

Having money gets you a chat with the governor of Phuket. I'm guessing his legal team ain't no cheap lawyers.

Pretty sure he was taken on as an investor and was probably told he will get paid out upon completion of the project, which isn't completed yet .

[smew]

Greed makes us blind and cancels all of our brain cognitive reasoning skills 

[Toby1947]

2 hours ago, Geoffggi said:

Come on you guys you all know the correct terminology for such things - Phuket is the HUB of scams in Thailand ..................LOL

And Thailand is the HUB of scams on the Planet 

[kiwikeith]

14 hours ago, richard_smith237 said:

It seems Phuket is Scam Central - scams everywhere down there.

 

There is currently stories of another common scam doing the rounds on social media...  

From SubWay at Phuket Airport nonetheless.

 

Tourist's order their Sandwich as per the menu, and are then asked what extra's they want. If they have extra's they are charged an extortionate amount.

 

Recently a lady was forced to pay the equivalent £72 (yes 72 British Pounds) for 3 Sandwiches - when they gave her the price she refused to pay the ridiculous amount and wanted to cancel the order, but the Police were called and she was made to pay. 

 

There have been a handful of similar stories - the Police clearly in on it... how else could 1040 baht be charged for a single subway 6" sandwich.

 

 

 

 

Police obviously, why's nothing been done, Police obviously, sad for los 

[kiwikeith]

25 minutes ago, ronster said:

Having money gets you a chat with the governor of Phuket. I'm guessing his legal team ain't no cheap lawyers.

Pretty sure he was taken on as an investor and was probably told he will get paid out upon completion of the project, which isn't completed yet .

But won't turn a profit 

[Ironmike]

Well we'll look more crimes committed by scum from Russia or sorry former Russia so many people from that part of the world coming here and doing illegal stuff it's time to get rid of them all. 

[Andrew65]

According to the World Corruption Index Ukraine is even more corrupt than Thailand.

[Tarteso]

14 hours ago, snoop1130 said:

could face up to three years in prison and a fine of 60,000 baht under Section 352 of the Criminal Code,

A few months in jail and 60.000.-? look like the game worth the candle for these scamers. 🤔

[Aleksey75]

I can see lots of ads of Russians inviting to invest on Instagram and also all of them for Phuket real estate investment - I bet the majority might be scam as well...

[DaRoadrunner]

Hard to avoid being scammed when even your own lawyer takes your money but fails to check out the documents related to the property. Amazing Thailand.

[Jonathan Swift]

15 hours ago, richard_smith237 said:

It seems Phuket is Scam Central - scams everywhere down there.

 

There is currently stories of another common scam doing the rounds on social media...  

From SubWay at Phuket Airport nonetheless.

 

Tourist's order their Sandwich as per the menu, and are then asked what extra's they want. If they have extra's they are charged an extortionate amount.

 

Recently a lady was forced to pay the equivalent £72 (yes 72 British Pounds) for 3 Sandwiches - when they gave her the price she refused to pay the ridiculous amount and wanted to cancel the order, but the Police were called and she was made to pay. 

 

There have been a handful of similar stories - the Police clearly in on it... how else could 1040 baht be charged for a single subway 6" sandwich.

 

 

 

 

Well, 2 things. 1.) Airport prices are always astronomical. 2.) American franchises are already high priced even outside airports. Chances are that the price of the extras were on the menu but she failed to check and assumed they were cheap or free. Too bad people get caught unaware. I never buy food at American branded franchises.  That’s not why I came here. Lastly, hearsay stories often get exaggerated with each retelling.

[Jonathan Swift]

Sad when foreigners walk blindly into such things without remembering that this is Thailand, and almost anywhere else in the world has better and safer investment opportunities. 

[Sydebolle]

While the tourism promotion board keep blowing their own trumpets of what kind of super destination all those rip-off places in Thailand are. The authorities sit around idle, some of them of course on the take as well. This country is doomed and needs a proper, cold reset rather sooner than later. 

[Hakuna Matata]

1 hour ago, Toby1947 said:

And Thailand is the HUB of scams on the Planet 

 

Oh, no. That is China and Viet-Nam.

[Hakuna Matata]

1 hour ago, Aleksey75 said:

I can see lots of ads of Russians inviting to invest on Instagram and also all of them for Phuket real estate investment - I bet the majority might be scam as well...

 

Many Ukrainians are mimicking as Russians, you never know.

 

 

[mran66]

Well, entering into business with guys from ex Soviet countries alone, added with Thai what would you expect? Pretty sure someone will get  scammed. 

[sam84320]

6 hours ago, Toby1947 said:

And Thailand is the HUB of scams on the Planet 

Obviously you don't know Africa

[khunPer]

It's not all projects that are able to pay the expected or promised gain – investment is business and speculation – it's not (yet) proven to be a scam, if the project is under construction. It can just be a different result than expected, as Covid-19 came unplanned in between...

"The project involved the construction of an apartment complex named Layan Green Park, which required an investment of 300 million baht. The project began in 2019, before the pandemic, and the first phase was already completed.

 

The Ukrainian man and his Thai business partner proceeded with the second phase of the project, which is a hotel. The hotel is currently under construction."

[London Lowf]

Phuket is littered with developments that have never been finished, and never will be.

 

My cynical side would guess that stage one is completed and then used as bait for investment in stage 2 - which is then abandoned.

 

I ride past this project several times a week and it was a hive of activity a year ago, but has gone relatively quiet since stage one has been completed and inhabited.

 

 

[Hakuna Matata]

More details here.

 

https://aif.ru/society/law/-pensiya-v-26-mlrd-supervzyatku-tambieva-v-bitkoinah-perevedut-v-yuani

 

English translation is here.

 

https://aif-ru.translate.goog/society/law/-pensiya-v-26-mlrd-supervzyatku-tambieva-v-bitkoinah-perevedut-v-yuani?_x_tr_sl=ru&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp

 

 

 

 

[sikishrory]

I enquired about a condo at Layan Green Park a couple of years ago. 

Glad I decided against it. Reasons were a company capital of only 4 million baht. This is publically available information you can find with a 2 minute google search. This means that if there is an issue you cannot sue the company to get your money back as they have no money.

Also you are only allowed to use the condominium during certain periods and there was no opt out available for the in-house rental pool system. Freehold not available.

Therefore you are buying it purely for an investment and nothing about it is transperant.

[paddypower]

On 1/9/2025 at 8:59 AM, DaRoadrunner said:

Hard to avoid being scammed when even your own lawyer takes your money but fails to check out the documents related to the property. Amazing Thailand.

Let me raise your bid: our group of 12 investors took great care to pay by instalments/phases of completion. no problem there. a Thai/Uk group held the land title, whilst individual leases were being registered, as apartments, on 30 year leases.  12 investors = 12 sets of Thai based International lawyers reviewed and approved the deal. developer sold the land a 2nd time, (to a well known Phuket businessman) using a common loop hole called 'sale or redemption'. we had 6 months to raise 16 million, to repay the business man for his 12 million loan to the developer. (the interest rate %, alone, is illegal) . 5 years and tears later and 3 million in legals, to get to the steps of the Supreme Court. result: it refused to hear the case on the grounds (in writing) that 'it was not in the best interests of the common good of Thailand'. 

maybe i should FB that story. 5 mill each, down the Phuket scam krap hole, plus the legals.  water under the bridge, now .      The nature of this post is intended to be of good intent, and in the best interests of the public good. ( my CYA expression for a farang criticising the judicial system). 

[DaRoadrunner]

10 minutes ago, paddypower said:

Let me raise your bid: our group of 12 investors took great care to pay by instalments/phases of completion. no problem there. a Thai/Uk group held the land title, whilst individual leases were being registered, as apartments, on 30 year leases.  12 investors = 12 sets of Thai based International lawyers reviewed and approved the deal. developer sold the land a 2nd time, (to a well known Phuket businessman) using a common loop hole called 'sale or redemption'. we had 6 months to raise 16 million, to repay the business man for his 12 million loan to the developer. (the interest rate %, alone, is illegal) . 5 years and tears later and 3 million in legals, to get to the steps of the Supreme Court. result: it refused to hear the case on the grounds (in writing) that 'it was not in the best interests of the common good of Thailand'. 

maybe i should FB that story. 5 mill each, down the Phuket scam krap hole, plus the legals.  water under the bridge, now .      The nature of this post is intended to be of good intent, and in the best interests of the public good. ( my CYA expression for a farang criticising the judicial system). 

Looks like your lawyer did not do their job right in failing to check the ownership documents. You can report them to the Law Society. They once made my lawyer and the Court re-try my case. Took 7 years, during which time my hair turned grey. I did win, but was it worth it? As for being scammed, your best bet is to offer the Police a substantial cash reward; amazing how efficient they are when there is money in it.