6 hours ago, scubascuba3 said:

Unbelievable, that could be done with any company then

Believable, why many are now avoiding Thailand... scammers are rife in the country, or just next door

1 hour ago, twizzian said:

It also shows how much greedy Lawyers can make from their victims

How so? You obviously have no  experience in business operations, let alone the purchase of a home.

When there are transactions, funds are paid into escrow accounts  held by the law firm. The funds are then disbursed as the transaction  finalizes. The bank accounts can also hold the proceeds of  litigation settlements that are to be disbursed. other funds on hand can be monthly rent and payroll.

 

All that this confirms is that this was most likely an inside job as others suggest.

2 hours ago, short-Timer said:

 

That makes no sense. How can someone open a new bank account, then withdraw that much money from it without ever depositing the same amount first? You can’t take money out of an empty account. Something is seriously FUBAR here. 

From what I understood from reading the article, he first submitted fake papers in order to change the ownership of the company, having done that he opened a new bank account in his name and transferred funds from the original Bank account of the company. After having the money he withdrew everything and the money is gone. 

Am I the only one who is incredulous at the bank's negligence? Warned of a potential fraud, there should have been a hold on funds, especially if the  person who was bring the   complaint was a company principal. The failure of the bank and the police to act in a timely manner all supports the  suspicion of an inside or "connected" job. The bank knows where the money was transferred.

Just now, Patong2021 said:

Am I the only one who is incredulous at the bank's negligence? Warned of a potential fraud, there should have been a hold on funds, especially if the  person who was bring the   complaint was a company principal. The failure of the bank and the police to act in a timely manner all supports the  suspicion of an inside or "connected" job. The bank knows where the money was transferred.

 

The fish stinks from the head.

 

What bank was it ?

 

9 minutes ago, hotchilli said:

Believable, why many are now avoiding Thailand... scammers are rife in the country, or just next door

True, it's always been a scamming culture but now with the digital possibilities, it's been increasing tenfold. 

I’ve said it before but worth repeating.

 

As a farang, never get involved in any business in Thailand.

 

The risk of being scammed or murdered increases ten fold.

 

If you need to get involved in one to eat, you failed.  98% fail, 2% succeed IMO.

 

Make your money before getting on the plane.✈️ 

 

Spend in Thailand 

 

 

"something is rotten in the state of Denmark" 

48 minutes ago, thairookie said:

Mr Benoit is not a Thai lawyer, but he can help co-found a Thai law firm ?

 

And then the Thai lawyers in the Thai law firm will have to share their earnings with a foreigner who is not a Thai lawyer ?

 

So if you are not a lawyer in that country you can still start a law firm ?  Is the Lawyer's Council of Thailand sleeping ?

 

Yes he can. His role would have been as a rainmaker, an introduction agent to the large French community as well as to other Europeans. The lawyers might be  partners or employees of the firm  and would be paid as per the partner agreement.

If he was not practicing as a lawyer, he can indeed open a law firm. members of the Thai bar would be the  attorneys.

 

2 hours ago, short-Timer said:

 

That makes no sense. How can someone open a new bank account, then withdraw that much money from it without ever depositing the same amount first? You can’t take money out of an empty account. Something is seriously FUBAR here. 

I thought the same. But maybe he opened it at the same branch as the other accounts. then used the fake signatures to access the other accounts?

9 minutes ago, Rocky Sullivan said:

I’ve said it before but worth repeating.

 

As a farang, never get involved in any business in Thailand.

 

The risk of being scammed or murdered increases ten fold.

 

If you need to get involved in one to eat, you failed.  98% fail, 2% succeed IMO.

 

Make your money before getting on the plane.✈️ 

 

Spend in Thailand 

 

 

many of us have businesses no issues. please dont generalise 

1 hour ago, thairookie said:

Mr Benoit is not a Thai lawyer, but he can help co-found a Thai law firm ?

 

And then the Thai lawyers in the Thai law firm will have to share their earnings with a foreigner who is not a Thai lawyer ?

 

So if you are not a lawyer in that country you can still start a law firm ?  Is the Lawyer's Council of Thailand sleeping ?

When he applies for his work permit his title is 'Manager or Director of Marketing' or client services manager. Not attorney. The labor dept will not accept that

11 minutes ago, DurianManThailand said:

many of us have businesses no issues. please dont generalise 

So you’re identifying yourself as one of the 2%?
 

Congrats.  The other 98%, not so much.

7 hours ago, webfact said:

18 million baht

Good one.

5 minutes ago, Rocky Sullivan said:

So you’re identifying yourself as one of the 2%?
 

Congrats.  The other 98%, not so much.

98% of stats are made up on the spot. Usually on a bar stool. 

Just now, DurianManThailand said:

98% of stats are made up on the spot. Usually on a bar stool. 

 Being a Durian salesman is a little less risky.  

Seems like the bank concerned did not provide more stringent checks on the money involved 

May be some insiders involved in the transactions 

Learned my lesson in 1998 post the financial crash. Company of which I was a director went bust. Fellow Thai directors covertly resigned leaving me with uncleared debts and unpaid staff. Message is in Thailand never invest more than you can afford to lose or, better still, don't invest at all.

This certainly doesn't bode well for Thailand becoming a hub of foreign investment.

 

It would be interesting to see what really happened, who did it, and what mechanisms failed to allow it.  But I doubt it'll stay in the news cycle long enough that we'll ever really know.

 

Let's step through the information to understand how this could happen.

 

Like in America most City/County Clerk's Office are there to collect documents, make sure the required processing info is available and submit a document for processing.

 

I remember submitting a legal land document that allowed me to transfer a residence into another companies name.

 

1. Verifying through contacting the current company management through registered address, email address or phone number was Not performed.

 

These are my personal assumptions and only allegations Not proven true or false.

 

2. The customer/current company owner did not properly configure notifications from the bank to a mobile device.

 

3. The bank allegedly allowed the change of business account ownership and control Without using the current business account phone number, email address or physical address.

Today performing a video call for verification of identity, change in ownership and/or removal of current account access personal, or confirmation if current balance has been adjusted from sale and is allowed to transfer to the alleged new owner.

 

4. Allegedly the original business bank account owner does not have the option in the mobile banking app, was not notified of the "Lock transfer option" was available under Account, click account again in my app "Lock transfer, Top up, Pay via App"

#Note mine indicates this does Not prevent in Bank withdrawals.#

 

In America for some Clerks Office you can now require verification for any changes to a properties ownership.

 

5. The Banks should be able to put a Temporary Lock on account withdrawals or transfers

 

This is a mess of contributing failures, areas needing approvement, bureaucracy/process hurdles, possible business failing to utilize notifications for changes to account, and lack of preparedness by business owner, possibly Bank employee not educated on resources available or who to contact for help when an Alleged Fraud is in progress.

 

2 hours ago, ronster said:

What makes a foreigner want to start a law firm in Thailand ?

Plus I'm guessing he's not a lawyer or not a good one if he turned up with his Thai lawyer 😀

Agree.His just a person who like to brag.Im not surprised if he is the mastermind behind this incident.

1 hour ago, Rocky Sullivan said:

 Being a Durian salesman is a little less risky.  

How?  Do durian businesses not have cash in a bank?

5 hours ago, short-Timer said:

 

That makes no sense. How can someone open a new bank account, then withdraw that much money from it without ever depositing the same amount first? You can’t take money out of an empty account. Something is seriously FUBAR here. 

This whole story is a big scam if you ask me.

29 minutes ago, IsaanT said:

How?  Do durian businesses not have cash in a bank?

Ask the Durian salesman 

Q:What's 20 Lawyers at the bottom of the sea.

A: A good start.

Never trust a Lawyer/s they cost me a lot of money from divorces and promise we cannot agree to the ex's terms as it's a winnable case and as usual their invoice gets bigger and bigger with NO result till I represented myself and won without them. 

5 hours ago, short-Timer said:

 

That makes no sense. How can someone open a new bank account, then withdraw that much money from it without ever depositing the same amount first? You can’t take money out of an empty account. Something is seriously FUBAR here. 

Exactly,

Money just don't get into that account when you open it. 

How did that money get there?

1 hour ago, norsurin said:

Agree.His just a person who like to brag.Im not surprised if he is the mastermind behind this incident.

Many law firms are managed by foreigners but they can only act as consultant as this job is reserved for Thais 

There's no honesty among lawyers. 

how good of a lawyer was he to be scammed like that

25 minutes ago, Mannekenpis said:

Many law firms are managed by foreigners but they can only act as consultant as this job is reserved for Thais 

I know that.Anyway i think the french guy is the person behind this.Why does he go to media complain that the police or bank not helping?