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Briton Held For Alleged $150mln Fraud

churchill

By churchill
in Thailand News Headlines

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churchill Platinum Member

churchill

Posted
Posted

Police arrested a Briton in Bangkok's red light district after he spent eight months on the run for allegedly embezzling 150 million dollars from a company in Dubai, police said Thursday.

Michael Bryan Smith, 43, was caught in the capital's notorious Nana area on Wednesday night after authorities in the United Arab Emirates sought Thailand's assistance, police told a press conference.

Smith allegedly siphoned off other workers' salaries into his own bank account while working as a personnel manager at a Dubai property company, police said, citing the warrant from the UAE.

http://www.bangkokpost.com/breakingnews/14...ed-150mln-fraudpostlogo.jpg

-- Bangkok Post 21/05/09

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GuestHouse Diamond Member

GuestHouse

Posted
Posted (edited)
Police arrested a Briton in Bangkok's red light district

That could have been just about anywhere really... But with $150million in his back pocket he heads down to spend his time with the dregs of the East and West in Nana..

Extradition to the Middle East... I hope he made the best of his time here...

Edited by GuestHouse
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Badbanker Silver Member

Badbanker

Posted
Posted (edited)

Should do the numbers to find out if it is real!

400 Employees!

1 year of Employment!

USD 150,000,000

150,000,000 / 400 employees = USD 375,000 stolen per person in his one year of employment!

USD 375,000 per person / 12 months = USD 31,250 per person per month to make USD 150,000,000!

Something is very wrong here!   His salary should be typical Dubai Expat at about USD 20,000 month.

If I had stolen this much money I would be on my private island behind locked doors with total protection not drinking in some bar near Nana!

Sounds to me like he is the sacrificial lamb for some reason!

BB

PS Excuse me doing the math.  Old banking habbit like diddling old ladies out of their due savings interest! 

Edited by Badbanker
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Farma Platinum Member

Farma

Posted
Posted
Police arrested a Briton in Bangkok's red light district after he spent eight months on the run for allegedly embezzling 150 million dollars from a company in Dubai, police said Thursday.

Michael Bryan Smith, 43, was caught in the capital's notorious Nana area on Wednesday night after authorities in the United Arab Emirates sought Thailand's assistance, police told a press conference.

Smith allegedly siphoned off other workers' salaries into his own bank account while working as a personnel manager at a Dubai property company, police said, citing the warrant from the UAE.

http://www.bangkokpost.com/breakingnews/14...ed-150mln-fraudpostlogo.jpg

-- Bangkok Post 21/05/09

Continued from Sky news http://news.sky.com/skynews/Home/World-New...ged_Dubai_Fraud

The UAE had asked Thai police to help them arrest the Londoner after he fled the country.

Officers said Smith, who is married to a Thai woman, had travelled extensively through Vietnam, Hong Kong, the Philippines and Thailand after fleeing Dubai.

"He did not resist arrest. We will start his extradition process as soon as possible," Police Colonel Somprasong Yen-tuam said.

Smith has apparently denied all charges and his case will be handed to the Attorney General's Office for extradition to face charges in the UAE.

Under Thai law, the court decides if a foreign national should be extradited to face trial in the requesting country.

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Shotime Gold Member

Shotime

Posted
Posted (edited)
Always those Britons!

Almost every two news headline concern Britons in one or the other way. What is it with those people? :)

Imagine. They're so well mannered and all. Who would ever have thunk it. When I saw the headline, I figured it had to be Obama.

Edit: or Nancy Pelosi

Edited by Shotime
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ScubaBuddha Platinum Member

ScubaBuddha

Posted
Posted
Should do the numbers to find out if it is real!

400 Employees!

1 year of Employment!

USD 150,000,000

150,000,000 / 400 employees = USD 375,000 stolen per person in his one year of employment!

USD 375,000 per person / 12 months = USD 31,250 per person per month to make USD 150,000,000!

Something is very wrong here! His salary should be typical Dubai Expat at about USD 20,000 month.

400 employees? 1 year? Where did you get these numbers?

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atelko Senior Member

atelko

Posted
Posted
Should do the numbers to find out if it is real!

400 Employees!

1 year of Employment!

USD 150,000,000

150,000,000 / 400 employees = USD 375,000 stolen per person in his one year of employment!

USD 375,000 per person / 12 months = USD 31,250 per person per month to make USD 150,000,000!

Something is very wrong here! His salary should be typical Dubai Expat at about USD 20,000 month.

If I had stolen this much money I would be on my private island behind locked doors with total protection not drinking in some bar near Nana!

Sounds to me like he is the sacrificial lamb for some reason!

BB

PS Excuse me doing the math. Old banking habbit like diddling old ladies out of their due savings interest!

ok, let´s say the numbers are correct.

even what you said about a dubai expat salary of USD 20.000 per month.

we should not forget that this is all about a real estate company he was working for. and normally those guys working in a real estate company are getting a fixed income + commission.

and if there was a fraud in that high ammount of money, the company he was working for was selling some houses, offices, buildings, apartments or whatever to at least pay the salary.

so it can be possible that he got the aprox. 31K per person each month.

but what is wondering me, is why nobody said anything if he took all the salary of 400(!!!) employees.

either they were all naive, he was too perky enough that nobody thought it would be such a big deal and he wouldn´t have the balls to do such a thing and he told them that there are some problems and it needs time till he fixes it and gave them just a couple of g´s per month to pay the rent and something to eat and took all the rest.

anyhow, the guy wasn´t pretty clever. he just had the balls and/or was too stupid enough to get that coupe done.

but for coming over to thailand, whether it was a soi xyz or the nana are....everybody knows that thai government and police are coorperating with other countries, especially when it comes to such a fraud ammount.

ok some are lucky and don´t get caught here in thailand, although they were making much bigger/worse stuff. but they know who to pay some money to get their immunity.

there are plenty of countries where you can live like a king with your money and don´t have to hide it and you don´t have to worry that the police knocks at your door.

the guy, in my eyes, was stupid as sh*** (sorry for that :) )...

i saw him on thai tv yesterday night. just heard "arab, arab, arab" all the time and he just looking so innocent and playing with his tounge as if he had anumb mouth of cocaine or something like that.

first i thought he got robbed by arabs and was shocked or something like that. but when i read this message, it makes sense and i give a big applause to the police that they catched him. even though i think it wasn´t that hard to find him. i am sure that the police was thinking it would be much harder to find him.

and the guys in the uae made a good decision when contacting thai police to check his location.

if they wanted him dead, he would have been found and slaughtered. fraud and stealing is a big deal in arab countries and they do anything to get their justice. and some guys who are running a company that makes at least 150 mln. in one year have their special friends anywhere in the world. these are the free bonuses for having a lot of money :D

i don´t think it would have been good if they would have caught him by their own. it is good how it was done and handled and i hope they guys who are still waiting for their salary will get it asap.

everybody can be or get rich by fraud or other illegal reasons. you don´t have to be an einstein for that. but you will sleep better and be more proud of yourself if you have done it legally and by your own (or with a partner)

just my 2 cents...

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JimmyTheMook Platinum Member

JimmyTheMook

Posted
Posted
Police arrested a Briton in Bangkok's red light district

That could have been just about anywhere really... But with $150million in his back pocket he heads down to spend his time with the dregs of the East and West in Nana..

Extradition to the Middle East... I hope he made the best of his time here...

They did say he was English.... :)

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JetsetBkk Star Member

JetsetBkk

Posted
Posted
...If I had stolen this much money I would be on my private island behind locked doors with total protection not drinking in some bar near Nana!...

Yes, he didn't think it through, did he? New passport or three, bribes to the right people, could've lived anywhere.

Instead, caught in Nana! :)

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Carmine6 Gold Member

Carmine6

Posted
Posted
Should do the numbers to find out if it is real!

400 Employees!

1 year of Employment!

USD 150,000,000

150,000,000 / 400 employees = USD 375,000 stolen per person in his one year of employment!

USD 375,000 per person / 12 months = USD 31,250 per person per month to make USD 150,000,000!

Something is very wrong here! His salary should be typical Dubai Expat at about USD 20,000 month.

400 employees? 1 year? Where did you get these numbers?

Where are those from? Unless the articles have changed, there's nothing other than the $150m in there.

When I heard this I was thinking property construttion companies that use a lot of 3 world workers. Could skim off them and they're less likely to know or raise an issue. For example, add some phony tax line item on their pay stubs and they're not going to know it's not legit. If it's years and not 1 year, not hard to do on a couple large construction projects.

If that guy is 43 I now understand why people assume I'm in my mid 30's. He looks a bit older than 43 to me.

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Badbanker Silver Member

Badbanker

Posted
Posted

I Know the guy in question very well and he has told me the background and numbers and that there was a lot of money moved around by more senior people in the company that he had absolutely no control over

He was the Personel Manager and had no signing rights on anything to do with money or on cheques.

He has been looking for a job in a hotel as he worked for the Minor group Anantara hotel on Khao Lak before it was destroyed in the Tsunami. Funny they said he has travelled to Hong Kong multiple times but he has said he has not and it is not in his Passport. He has been to China and Indon and Malaysia and Vietnam once each for Job interviews with hotels.

Google his passport name Michael Bryan Smith and see what you come up with. Aside from this case it might surprise you!

If I had USD 150 mil I certainly would not be on a job hunt or drinking in Nana!

BB

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BigSnake Platinum Member

BigSnake

Posted
Posted (edited)

Thailand seem like a good place to spent their ill obatin cash to most crooks, but as of late the Thai Police have been on the stick, making many arrests for drugs and crimes such as this one. Hmmmmm! I wonder if the couple that has the $8 million deposit into their account by mistake will be heading our way? :D:D A room is book just for you two at the Bangkok Hilton :) Maybe even get a warm welcome at the Airport.

Edited by BigSnake
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Steps Advanced Member

Steps

Posted
Posted
Should do the numbers to find out if it is real!

400 Employees!

1 year of Employment!

USD 150,000,000

150,000,000 / 400 employees = USD 375,000 stolen per person in his one year of employment!

USD 375,000 per person / 12 months = USD 31,250 per person per month to make USD 150,000,000!

Something is very wrong here! His salary should be typical Dubai Expat at about USD 20,000 month.

If I had stolen this much money I would be on my private island behind locked doors with total protection not drinking in some bar near Nana!

Sounds to me like he is the sacrificial lamb for some reason!

BB

PS Excuse me doing the math. Old banking habbit like diddling old ladies out of their due savings interest!

You actually sat there and done the math. Good on ya fella. Your fking handy thats for sure!!

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Steps Advanced Member

Steps

Posted
Posted
Police arrested a Briton in Bangkok's red light district after he spent eight months on the run for allegedly embezzling 150 million dollars from a company in Dubai, police said Thursday.

Michael Bryan Smith, 43, was caught in the capital's notorious Nana area on Wednesday night after authorities in the United Arab Emirates sought Thailand's assistance, police told a press conference.

Smith allegedly siphoned off other workers' salaries into his own bank account while working as a personnel manager at a Dubai property company, police said, citing the warrant from the UAE.

http://www.bangkokpost.com/breakingnews/14...ed-150mln-fraudpostlogo.jpg

-- Bangkok Post 21/05/09

Continued from Sky news http://news.sky.com/skynews/Home/World-New...ged_Dubai_Fraud

The UAE had asked Thai police to help them arrest the Londoner after he fled the country.

Officers said Smith, who is married to a Thai woman, had travelled extensively through Vietnam, Hong Kong, the Philippines and Thailand after fleeing Dubai.

"He did not resist arrest. We will start his extradition process as soon as possible," Police Colonel Somprasong Yen-tuam said.

Smith has apparently denied all charges and his case will be handed to the Attorney General's Office for extradition to face charges in the UAE.

Under Thai law, the court decides if a foreign national should be extradited to face trial in the requesting country.

The authorities are doing there damed best to globalise the police hey!! I guess youve gotta have a trump card up your sleeve to do some serious bargining for freedom. 150mil i supose would go a long way hey! Just how flexible are the Thai authorities? I bet this guy could do with making some local friends right about now!!!!! How many are cueing up?

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Asianrider Silver Member

Asianrider

Posted
Posted

interesting story, how much money would you have to have before considering living in luxury outside the normal fleshpots of Thai / Philipines / Cambodia ?

anything near 150 mill sterling can live like a king in London / Paris / Zurich etc what's the entry level sum ?

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Samuian Platinum Member

Samuian

Posted
Posted

Even if the scribe mixed up the currency conversion it woul still be quite some dosh!

150,000,000 Utd. Arab Emir. Dirham = 40,864,474 US Dollar

but more likely.

Considering that it's not only wages, but may transfers of buyers money...

And yes, wouldn't someone with this wad of cash be on the Cook Islands,

BoraBora or the Caicos&Turk Islands, but Nana?

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Tolley Platinum Member

Tolley

Posted
Posted

Even some of the real dullards on this board should realise that this whole story makes no sense at all.

More likely he is the fall guy for others higher up the food chain who have made him the scapegoat.

I wouldn't like to be in his shoes the way they dispense 'justice' in the UAE.

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Badbanker Silver Member

Badbanker

Posted
Posted
Even some of the real dullards on this board should realise that this whole story makes no sense at all.

More likely he is the fall guy for others higher up the food chain who have made him the scapegoat.

I wouldn't like to be in his shoes the way they dispense 'justice' in the UAE.

Finally someone can see through all the media hype!

He is the sacrificial lamb for some Arab Heavies in UAE and, of course as The Manager site says he must be held untill the Toxin is returned to us!

He is dead any way you look at it!   Unless the Wonderful UK Government Steps in a throws around some weight. NOT!

Nah he's dead!

BB

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