george Posted January 18, 2008 Share Posted January 18, 2008 Dud cheque charge SURAT THANI: -- Immigration police yesterday arrested a British businessman on a charge of bouncing a large cheque on Koh Samui as he was making arrangements to fly to Taiwan. Alan Edward Sadd, a real estate investor and pub owner, is accused of failing to pay 750,000 baht to a construction firm hired for his new resort on the resort island last year. The 60 year old man yesterday admitted to issuing the bad cheque, police said. Accompanied by a Thai woman, he was arrested at a Samui immigration checkpoint. -- Bangkok Post 2008-01-18 Link to comment Share on other sites More sharing options...
mattias33 Posted January 18, 2008 Share Posted January 18, 2008 Failed to pay 750 000 baht. Hmmm. 14 000 Euros. And i thought this guy was rich? Lets see how many more of the failed payments they discover now when they started to dig. Link to comment Share on other sites More sharing options...
PoorSucker Posted January 18, 2008 Share Posted January 18, 2008 Already covered here http://www.thaivisa.com/forum/index.php?showtopic=164258 and Link to comment Share on other sites More sharing options...
taxexile Posted January 19, 2008 Share Posted January 19, 2008 (edited) Alan Edward Sadd, a real estate investor its a crying shame that this hard working , honest , genuine real estate agent , merely trying to earn a meagre crust to support his thai wife should have fallen on hard times resulting in him acting totally out of character and issuing a dud cheque. real estate developers are an integral and essential part of our society , we need them , just as we need lawyers , politicians , taxi drivers and bar girls. i know that there will be some kind thai visa members reading this heart rending tale who feel sympathy for this unfortunate koh samui estate agent and resort developer who will find it in their hearts to be generous and help this man with a small donation. as a falang community in thailand , far away from our homelands , we should stick together and when one of ours is in trouble , when one of ours has a slight financial hiccough , we should show our true spirit by offering help. please send your cheques , not bouncy ones please , payable in swiss francs , (made payable to " taxexile") to "the koh samui home for destitute estate agents , the penthouse suite , 55th floor , nirvana beach palace gardens ( a bali indo lanna fusion design project ) bophut , samui. Edited January 19, 2008 by taxexile Link to comment Share on other sites More sharing options...
PhilHarries Posted January 19, 2008 Share Posted January 19, 2008 real estate developers are an integral and essential part of our society , we need them , just as we need lawyers , politicians , taxi drivers and bar girls.please send your cheques , not bouncy ones please , payable in swiss francs , (made payable to " taxexile") to "the koh samui home for destitute estate agents , the penthouse suite , 55th floor , nirvana beach palace gardens ( a bali indo lanna fusion design project ) bophut , samui. Sorry TE I cannot help with your home for destitute estate agents but would love to leave a small deposit in the foundation for fallen bar girls. Link to comment Share on other sites More sharing options...
sbk Posted January 19, 2008 Share Posted January 19, 2008 Keep it from getting accusatory, abusive, slanderous or potentially libellous and maybe this one can stay open...... Link to comment Share on other sites More sharing options...
theoracle Posted January 19, 2008 Share Posted January 19, 2008 From what I understand after talking to the bloke (something very few of you people do on here, easier to just give your opinion on something you know f/a about) it was a misunderstanding and all cleared up in next to no time. Link to comment Share on other sites More sharing options...
John 1 Posted January 19, 2008 Share Posted January 19, 2008 Yes all cleared up in next to no time, when he is confronted by the police, there seems to be a few people saying he is a good guy maybe his mates. These sort of guys are here to make a quick buck and disappear we who live here all the time then suffer the consequences. Link to comment Share on other sites More sharing options...
sbk Posted January 19, 2008 Share Posted January 19, 2008 Well, there you go, seems impossible to avoid such talk. And people wonder why these threads get closed so quickly. Link to comment Share on other sites More sharing options...
mattias33 Posted January 19, 2008 Share Posted January 19, 2008 Well, there you go, seems impossible to avoid such talk. And people wonder why these threads get closed so quickly. Yeah, i for one wonder why they have to be closed. Whats the problem with people having a discussion around a newspaper-article? Dont forget that the guy in this particular case is a guy of many peoples interest for different reasons. You dont have to close every thread that becomes interesting, so far its not out of line. And this subject do interest alot of people around here. Link to comment Share on other sites More sharing options...
sbk Posted January 19, 2008 Share Posted January 19, 2008 Avoid slanderous speculation, abuse and flaming and it is possible. Link to comment Share on other sites More sharing options...
theoracle Posted January 19, 2008 Share Posted January 19, 2008 I bet he has lived here longer than you JOHN 1. Link to comment Share on other sites More sharing options...
highdiver Posted January 19, 2008 Share Posted January 19, 2008 a few months ago there was a lot of disussion about the above and the Coco company . since then we did not hear anything. if I recall there was one of our members reported that some of the clients of the above had formed a group of buyers seeking legal help to try and save the investment in coco. what is going on with the coco projects? I passed them a few days ago and it seems the first one they did there is still some construction, the second one that looks nearly finished looks like a ghost town. some houses are finished but it seems no one stays there. the third project has been halted for more then a year. can anyone who knows the facts... and only facts shed some light on this. Link to comment Share on other sites More sharing options...
theoracle Posted January 19, 2008 Share Posted January 19, 2008 All that has been discussed before on this board highdiver and the outcome was that people guessed as to what was happening in the company without any actual facts, your comment is irrelevant to the discussion in this thread. Link to comment Share on other sites More sharing options...
beerguy Posted January 19, 2008 Share Posted January 19, 2008 (edited) a few months ago there was a lot of disussion about the above and the Coco company . since then we did not hear anything.if I recall there was one of our members reported that some of the clients of the above had formed a group of buyers seeking legal help to try and save the investment in coco. what is going on with the coco projects? I passed them a few days ago and it seems the first one they did there is still some construction, the second one that looks nearly finished looks like a ghost town. some houses are finished but it seems no one stays there. the third project has been halted for more then a year. can anyone who knows the facts... and only facts shed some light on this. As an investor in the now failed coco palm villas project, I and hundreds of others from countries around the world are persuing a class action lawsuit against the owners.......... I just hope this FACT doesn't cause this thread to be closed ! here's a good link.............http://www.cocoinvestor.org/home/ Edited January 19, 2008 by beerguy Link to comment Share on other sites More sharing options...
John 1 Posted January 19, 2008 Share Posted January 19, 2008 Looks like there is a new moderator on this forum welcome Mr theoracle, Link to comment Share on other sites More sharing options...
highdiver Posted January 19, 2008 Share Posted January 19, 2008 All that has been discussed before on this board highdiver and the outcome was that people guessed as to what was happening in the company without any actual facts, your comment is irrelevant to the discussion in this thread. on the contrary. it is very relevant.. the reason is, that the thread relates to a person that was arrested for giving a bad check. it is interesting because this person is not some John Doe of the street but the owner of a company that seems to be in a problem and that this problem is affecting investors as well local businesss here o Samui. there have been many speculations and guss work on what is realy going on the last time it was discussed was a few months ago where one of our members "Charma" had some information but was directing people to the coco investors web site where more facts and news are found. As a few months a hav passed and as some of our members have more information as some of them invested in those projects maybe they can shed more light about this case. I am not asking by any way for bashing remarks on Coco and Allan but simple facts if any one knows what is the situation with the projects and the company. Link to comment Share on other sites More sharing options...
terryp Posted January 19, 2008 Share Posted January 19, 2008 Class action lawsuit in THAILAND ? thats a new one on Me ! Link to comment Share on other sites More sharing options...
beerguy Posted January 19, 2008 Share Posted January 19, 2008 Class action lawsuit in THAILAND ? thats a new one on Me ! No one mentioned Thailand ! Link to comment Share on other sites More sharing options...
BL4u Posted January 19, 2008 Share Posted January 19, 2008 (edited) Class action lawsuit in THAILAND ? thats a new one on Me ! No one mentioned Thailand ! Some thoughts that come up: For a criminal action against an individual the first requirement is that it must be a criminal act in both countries (Thailand and the UK). I do not know the facts but I do not see this. For a civil procedure, the only Court you can refer to is the Thai Court. You are dealing with a Thai company, not the induviduals. Coco uses many limited liability companies for different purposes and developments or they act as the agent for another company. There are 100 million + developments run by 2 million baht limited liability companies. Limited liability means limited to the remaining unpaid amount, if any, of the par values of theirs shares. If the development fails, even through mismanagement (should you be able to proof this) and all the money has gone it is unlikely you get anything back in a civil action from the company or the director(s) should they be personal liable. As a foreign purchaser in you simply must not pay large amounts in advance before you get what you have agreed!! In Thailand as the purchaser you take the risk. This bounced cheque, just a guess, maybe he used a cheque from a company they already emptied. Edited January 19, 2008 by BL4u Link to comment Share on other sites More sharing options...
mattias33 Posted January 19, 2008 Share Posted January 19, 2008 Class action lawsuit in THAILAND ? thats a new one on Me ! No one mentioned Thailand ! Some thoughts that come up: For a criminal action against an individual the first requirement is that it must be a criminal act in both countries (Thailand and the UK). I do not know the facts but I do not see this. For a civil procedure, the only Court you can refer to is the Thai Court. You are dealing with a Thai company, not the induviduals. Coco uses many limited liability companies for different purposes and developments or they act as the agent for another company. There are 100 million + developments run by 2 million baht limited liability companies. Limited liability means limited to the remaining unpaid amount, if any, of the par values of theirs shares. If the development fails, even through mismanagement (should you be able to proof this) and all the money has gone it is unlikely you get anything back in a civil action from the company or the director(s) should they be personal liable. As a foreign purchaser in you simply must not pay large amounts in advance before you get what you have agreed!! In Thailand as the purchaser you take the risk. This bounced cheque, just a guess, maybe he used a cheque from a company they already emptied. Can you clear up your post? Maybe im alone but i dont get want you mean. To me it looks like your saying that if i break the law of Thailand (criminal act, right?) it also must be illegal in the uk??????? Or do you mean the country of origin, in my case Sweden? Totaly dont get what you are talking about. If you are in Thailand and brake the Thai law its a criminal act, at least i thought so. Am i wrong?? Also let me ad that i think many (i for one) people around samui and also Tv members would like to see highdivers questions answered. I somehow dont see that coming but hope is there everytime a cocothread is on. Smal hope. And the last time (already mentioned charma-case) did not link to a page where furter information was given. It linked to a place you could join for a fee, witch you did not know how high it would be until you joined, and then get info. Not exactly what we where looking for, was it? Now we are here again and before we get this thread closed lets hope somebody comes in with facts and answers. Highdivers posts say and ask pretty much what we all wait for. News and updates. Anyone?? Link to comment Share on other sites More sharing options...
BL4u Posted January 19, 2008 Share Posted January 19, 2008 Class action lawsuit in THAILAND ? thats a new one on Me ! No one mentioned Thailand ! Some thoughts that come up: For a criminal action against an individual the first requirement is that it must be a criminal act in both countries (Thailand and the UK). I do not know the facts but I do not see this. For a civil procedure, the only Court you can refer to is the Thai Court. You are dealing with a Thai company, not the induviduals. Coco uses many limited liability companies for different purposes and developments or they act as the agent for another company. There are 100 million + developments run by 2 million baht limited liability companies. Limited liability means limited to the remaining unpaid amount, if any, of the par values of theirs shares. If the development fails, even through mismanagement (should you be able to proof this) and all the money has gone it is unlikely you get anything back in a civil action from the company or the director(s) should they be personal liable. As a foreign purchaser in you simply must not pay large amounts in advance before you get what you have agreed!! In Thailand as the purchaser you take the risk. This bounced cheque, just a guess, maybe he used a cheque from a company they already emptied. Can you clear up your post? Maybe im alone but i dont get want you mean. I was 1 - responding to Beerguy’s suggestion they could to take legal action against Coco outside Thailand and 2 - if they have a legal claim for money in Thailand they probably will end up with nothing, because of the limited share capital and limited liability these companies have. Link to comment Share on other sites More sharing options...
sriracha john Posted January 23, 2008 Share Posted January 23, 2008 Coco confirms Sadd arrest Coco International Properties has confirmed that its Managing Director, Alan Sadd, was the UK national reported as being arrested as he attempted to leave Thailand last Tuesday on charges of bouncing a cheque. The Samui property development firm released a statement saying, “Managing Director of Coco, Alan Sadd was arrested on Tuesday 15 January as he attempted to leave Samui to fly to Taiwan.” The statement went on to say that The Bangkok Post, reported that Sadd had “admitted [to] bouncing a large cheque to a construction firm.” The Bangkok Post article in question also reported that immigration police arrested the Briton as he and a female Thai national were making arrangements to fly to Taiwan from Koh Samui airport. 60-year-old Sadd, who is both a pub owner and a real estate investor, is accused of failing to pay Bt750,000 to a construction firm he hired to work on a Koh Samui resort in 2007. - Asia Property Report Link to comment Share on other sites More sharing options...
sriracha john Posted January 23, 2008 Share Posted January 23, 2008 The arrestee's company website: Investment Oppotunities Koh Samui, Thailand. http://www.cocosamui.com/en/owning_in_thai...ties/index.html Link to comment Share on other sites More sharing options...
sriracha john Posted January 23, 2008 Share Posted January 23, 2008 Alan Sadd Arrested Managing Director of Coco, Alan Sadd was arrested on Tuesday 15 January as he attempted tp leave Samui to fly to Taiwan. According to the story in the Bangkok Post, he admitted bouncing a large cheque to a construction firm: Bangkok Post Article - Wednesday 16 January 2008 "SURATHANI: Immigration police yesterday arrested a British businessman on a charge of bouncing a large cheque on Koh Samui as he was making arrangements to fly to Taiwan. Alan Edward Sadd, a real estate investor and a pub owner, is accused of failing to pay 750,000 baht to a construction firm hired for his new resort on the resort island last year. The 60 year-old man yesterday admitted to issuing the bad cheque, police said. Accompanied by a Thai woman, he was arrested at a Samui immigration checkpoint". http://www.cocoinvestor.org/home/ ============================================================================= Quite a diverse man based on a sampling of Google results; "If you were to drop into the offices of Coco International in Time Square in Chaweng, Samui; you might get a surprise. Instead of the usual slick-talking salesmen, you are likely to meet with international entrepreneur and property developer Alan Sadd." http://www.tropical-living.com/nov03/coco.htm =================================================================== Alan Sadd, director of the Koh Samui Music Festival, is determined to stage an event unlike any in the region, and seems to have no problem seeing the big picture or rolling over roadblocks. http://junkiebrewster.free.fr/bangkokpost.html ==================================================================== An enterprising businessman aims to jazz up the dive business and offer emergency services with a seaplane Koh Samui is developing at a rapid pace. I was reminded of this recently when I was awoken from my sandy siesta by a seaplane buzzing the coastline. The buzz was contagious as both locals and holidaymakers gawked skywards and dogs chased the plane’s shadow down the beach. The plane’s owner and namesake, Alan Sadd. http://www.nationmultimedia.com/explore/20...n_19260715.html ===================================================================== Link to comment Share on other sites More sharing options...
sriracha john Posted January 23, 2008 Share Posted January 23, 2008 With apologies, previously covered thread was not initially discovered prior to posting. Please merge this with: http://www.thaivisa.com/forum/index.php?sh...=164729&st= Link to comment Share on other sites More sharing options...
Jai Dee Posted January 23, 2008 Share Posted January 23, 2008 With apologies, previously covered thread was not initially discovered prior to posting. Please merge this with:http://www.thaivisa.com/forum/index.php?sh...=164729&st= Done. Link to comment Share on other sites More sharing options...
Taci Posted January 23, 2008 Share Posted January 23, 2008 Coco confirms Sadd arrestCoco International Properties has confirmed that its Managing Director, Alan Sadd, was the UK national reported as being arrested as he attempted to leave Thailand last Tuesday on charges of bouncing a cheque. The Samui property development firm released a statement saying, "Managing Director of Coco, Alan Sadd was arrested on Tuesday 15 January as he attempted to leave Samui to fly to Taiwan." The statement went on to say that The Bangkok Post, reported that Sadd had "admitted [to] bouncing a large cheque to a construction firm." The Bangkok Post article in question also reported that immigration police arrested the Briton as he and a female Thai national were making arrangements to fly to Taiwan from Koh Samui airport. 60-year-old Sadd, who is both a pub owner and a real estate investor, is accused of failing to pay Bt750,000 to a construction firm he hired to work on a Koh Samui resort in 2007. - Asia Property Report Fact not Fiction I have spoken to Coco International Properties today who have said they are very keen to hear from Asia Property Report regarding the statement they supossedly issued regarding this junk story. No statement was in fact made and since the facts were not even correct it seems highly unlikely they made this statement. In fact they have asked their lawyers to contact Asia Property Report on their behalf to see why their reporter made this up or to confirm which bar he heard it in....... lol Investigative reporting at its best....lol Link to comment Share on other sites More sharing options...
beerguy Posted January 23, 2008 Share Posted January 23, 2008 (edited) Coco confirms Sadd arrestCoco International Properties has confirmed that its Managing Director, Alan Sadd, was the UK national reported as being arrested as he attempted to leave Thailand last Tuesday on charges of bouncing a cheque. The Samui property development firm released a statement saying, "Managing Director of Coco, Alan Sadd was arrested on Tuesday 15 January as he attempted to leave Samui to fly to Taiwan." The statement went on to say that The Bangkok Post, reported that Sadd had "admitted [to] bouncing a large cheque to a construction firm." The Bangkok Post article in question also reported that immigration police arrested the Briton as he and a female Thai national were making arrangements to fly to Taiwan from Koh Samui airport. 60-year-old Sadd, who is both a pub owner and a real estate investor, is accused of failing to pay Bt750,000 to a construction firm he hired to work on a Koh Samui resort in 2007. - Asia Property Report Fact not Fiction I have spoken to Coco International Properties today who have said they are very keen to hear from Asia Property Report regarding the statement they supossedly issued regarding this junk story. No statement was in fact made and since the facts were not even correct it seems highly unlikely they made this statement. In fact they have asked their lawyers to contact Asia Property Report on their behalf to see why their reporter made this up or to confirm which bar he heard it in....... lol Investigative reporting at its best....lol And finally the mighty are falling..............strike one.............next at bat is ? Edited January 23, 2008 by beerguy Link to comment Share on other sites More sharing options...
theoracle Posted January 24, 2008 Share Posted January 24, 2008 Another prediction from Beerguy as to the downfall of Coco, seems you have been wrong a few times about this subject. Sour or jealous? Link to comment Share on other sites More sharing options...
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