I have just learnt that a certain property development company in Chiangmai has had all it's assets siezed as part of a large drug investigation. This could have Repercussions for those who have paid deposits or for farangs holding 30 yr leases.

May I ask which property developer?

Rumors may have or may not have foundations.

Ones like this one if true should have some verification.

There are far reaching and if true can affect a lot of people.

If not true just start people needlessly worrying. Or prevent them from make decisions.

There are a good deal of companies that would fit the description given here.

Agreed! Elaborate on your source and quit scaremongering.

Agreed! Elaborate on your source and quit scaremongering.

It will be released in the media very shortly I am sure.

I remember a couple of years ago the assets of a large Chiang Mai timber merchant was seized as it was accused of processing illegally felled Burmese teak. These were proved in court to be false allegations. This company just happened to be in direct competition with a timber company owned by a minister from the previous Democrat government.

May I ask which property developer?

Not allowed under 'name & shame' forum rules.

This post is worthless.

Why put up scaremongering posts?

Why not wait until it's verified and you can tell us something useful?

At least change the title of the post so that is meaningful.

You sound like my wife.

This post is worthless.

Why put up scaremongering posts?

Why not wait until it's verified and you can tell us something useful?

At least change the title of the post so that is meaningful.

You sound like my wife.

Sounds like somebody had a good a time at the party last night......and judging from the time of the last post , maybe too good.

This post is worthless.

Why put up scaremongering posts?

Why not wait until it's verified and you can tell us something useful?

At least change the title of the post so that is meaningful.

You sound like my wife.

I am not scaremongering and received information from those closely linked. I just thought it may be useful to those about to invest thier pensions to be wary and ask a few more questions.

This post is worthless.

Why put up scaremongering posts?

Why not wait until it's verified and you can tell us something useful?

At least change the title of the post so that is meaningful.

You sound like my wife.

Sounds like somebody had a good a time at the party last night......and judging from the time of the last post , maybe too good.

Huh?

My post is at 3pm in the afternoon.

What party?

I was at the Carbao concert last night.

What you talkin' about Willis?

Surely a request for the name of the company via a PM is within the rules ?

Problem sorted ?

Surely a request for the name of the company via a PM is within the rules ?

Problem sorted ?

Please PM me as well OP

Surely a request for the name of the company via a PM is within the rules ?

Problem sorted ?

Please PM me as well OP

If possible, me also!

This post is worthless.

You sound like my wife.

I've always admired people that can admit their mistakes.

This post is worthless.

You sound like my wife.

I've always admired people that can admit their mistakes.

I've always admired posters that can modify other people's posts to make some nonsensical connection.

Carry on.

This post is worthless.

You sound like my wife.

I've always admired people that can admit their mistakes.

I've always admired posters that can modify other people's posts to make some nonsensical connection.

Carry on.

Modify? No, these were your own words.

Edited November 4, 201213 yr by Semper

This post is worthless.

You sound like my wife.

I've always admired people that can admit their mistakes.

I've always admired posters that can modify other people's posts to make some nonsensical connection.

Carry on.

Modify? No, these were your own words.

I didn't say words.

I said post.

Comprehension was never your strong point.

The woman who owns the company has just been arrested (16 Jan 2013) with the murder of her ex husband. The ex spent 12 yrs in jail for drug trafficking and on his release she had him killed whilst she was travelling home from dinner with him. She reported that they had been stopped by masked men and he was dragged and kidnapped from her vehicle. Now revealed that she organised the hit to get him out of the way as the drug monies had been used by her in the property development business. A number of farangs in the area will be holding leases on land owned by her and her company which are now all being siezed.

I know this lady personally. I can't name and shame them on here but can provide firther details via P.M.

Jeez--you know this lady--personally--watch your back, friend.

Sorry, if the previous comment sounds flippant--I am sure you will already be very careful of such a person.

Edited January 18, 201313 yr by haybilly

So the OP was not completely full of it as some alluded then?

Agreed! Elaborate on your source and quit scaremongering.

It will be released in the media very shortly I am sure.

Yesterday's media. It is in Thai but if you have someone to translate or use google you will get the story. http://tnews.teenee.com/crime/90414.html

So the OP was not completely full of it as some alluded then?

apparently not, except the murder part which was still to come.

looks like a crow eating event

I'll bet none of the DB's who harassed the OP will apologize.

I see nothing wrong with the OP's warning, even if he couldn't provide details. I know I try to research everything I can before buying anything and I certainly would like to know there MIGHT be problems I hadn't even thought about.

I don't really understand where the potential issue is. If anyone had a 30 year lease then they still have a 30 year lease, also when the land owner changes. Be it government or another buyer.

I don't really understand where the potential issue is. If anyone had a 30 year lease then they still have a 30 year lease, also when the land owner changes. Be it government or another buyer.

What about those that have paid deposits for homes to be built by the company? With office closed and assets siezed it is going to be a long drawn out process to try and recoup some money, could take years and then you may have to fight with the family of the deseased who will surely be looking for compensation. Not just some farangs but thais also.

I don't really understand where the potential issue is. If anyone had a 30 year lease then they still have a 30 year lease, also when the land owner changes. Be it government or another buyer.

What about those that have paid deposits for homes to be built by the company? With office closed and assets siezed it is going to be a long drawn out process to try and recoup some money, could take years and then you may have to fight with the family of the deseased who will surely be looking for compensation. Not just some farangs but thais also.

And there is a long list of negative past precedents (all over this country) of development companies closing down, abandoning projects, some have even marketed their houses / condos and taken deposits before they have even bought the land.

And in 90% or more of these cases, the deposits never returned, not even one baht, and in plenty of past cases the deposit payers threatened if they talk too loudly.

I don't really understand where the potential issue is. If anyone had a 30 year lease then they still have a 30 year lease, also when the land owner changes. Be it government or another buyer.

What about those that have paid deposits for homes to be built by the company? With office closed and assets siezed it is going to be a long drawn out process to try and recoup some money, could take years and then you may have to fight with the family of the deseased who will surely be looking for compensation. Not just some farangs but thais also.

And there is a long list of negative past precedents (all over this country) of development companies closing down, abandoning projects, some have even marketed their houses / condos and taken deposits before they have even bought the land.

And in 90% or more of these cases, the deposits never returned, not even one baht, and in plenty of past cases the deposit payers threatened if they talk too loudly.

I agree with you both but I still stand behind my original post.

I'd like to respecfully suggest that alarmist but non-specific one-word headings such as "Beware" are not encouraged, and should reveal what to 'beware' of in the subject line, so that people do not waste their time following subjects which are of no interest to them.