Fyi For Any Markland Condo Owners...b 4M Stolen From Condo Assoc. Accounts

[OMGImInPattaya]

This is just a heads-up for any non-resident owners, overseas owners, or resident owners who no longer bother to read the myriad notices the building is always plastering all around the place that one of them you should read. It details the theft of around four-million baht from the Markland condo bank accounts by an employee of the Markland condo accounting office. The particulars of the theft are set forth in the posted notice. Basically, the employee used forged signatures on Association checks to withdrawn the said sum from the Association's Thanachart Bank accounts.

The employee has been identified and restitution of about B 600k in cash has been made, as well as her personal vehicle being confiscated by the Association. The Markland has also retained lawyers to prosecute both civil and criminal charges against both the employee and Thanachart Bank. There are also ongoing negotiations with the bank about appropriate restitution as apparently the checks were cashed in contravention of the check cashing instructions for the account.

Ah the joys of condo ownership in Thailand!

Edited February 4, 2013 by OMGImInPattaya

[toenail]

I also read the notice while waiting for the 5 minute elevator to come to the ground floor. I find it interesting to read how a bank could allow "forged" signatures without catching it...and how "negotiations" are now in process to get the money. If this can happen at Markland, then it can happen at any condo complex...and it certainly takes alot of balls to think one could get away with such a theft. DUH

[chris2004]

Sad to hear but it's not just a Thailand thing. Employees defraud their employers all the time, many examples in the UK press. More concerning is the behaviour of the bank. They had nothing to gain so they were just incompetent.

[easyride]

Sad to hear but it's not just a Thailand thing. Employees defraud their employers all the time, many examples in the UK press. More concerning is the behaviour of the bank. They had nothing to gain so they were just incompetent.

Don't be an apologist, peer over your rose tinted glasses.

I think OMGImInPattaya was simply trying to inform any interested parties of what has happened.

[BlackPuddingBertha]

"The employee has been identified and restitution of about B 600k in cash has been made, as well as her personal vehicle being confiscated by the Association. The Markland has also retained lawyers to prosecute both civil and criminal charges against both the employee and Thanachart Bank. There are also ongoing negotiations with the bank about appropriate restitution as apparently the checks were cashed in contravention of the check cashing instructions for the account."

The association carried no insurance then?

[Munger]

Sad to hear but it's not just a Thailand thing. Employees defraud their employers all the time, many examples in the UK press. More concerning is the behaviour of the bank. They had nothing to gain so they were just incompetent.

Don't be an apologist, peer over your rose tinted glasses.

I think OMGImInPattaya was simply trying to inform any interested parties of what has happened.

Yup, the thai apologist favorite answer "DUH, ITS THE SAME IN THE UK, DUH, IF YOU DONT LIKE IT GO BACK HOME"

[PattayaPhom]

Not uncommon, Markland is surprising though

[nikkoid66]

This could happen in Europe too. I had some stories with forged signatures back then... Banks are totally incompetent. They would cash checks without checking anything. Everywhere the same. Now this money is gone somewhere. Some people will have some nightmare to get the money back. Some people will loose their job too. And it will take years in procedure to get something from the bank...

I have seen that many people are selling their condo. Probably very upset and want to leave the place.

[toenail]

No,the reason a few owners are selling their condos there is because the hotel section caters to the 2 star, first-time tourist from a particular south Asian country. These people come on bus tours, loud, don't know how to use the elevators, and don't know to wear swim wear in the pool. Then there is noisy construction on the north side behind the Holiday Inn. I personally find the condo at a great location, and at my friend's apartment, the hallway is always quiet, and the rooms are sound proof.

[DiNiro]

From looking at the property it appears someone stole the maintenance funds too.

A dump.

[chris2004]

Sad to hear but it's not just a Thailand thing. Employees defraud their employers all the time, many examples in the UK press. More concerning is the behaviour of the bank. They had nothing to gain so they were just incompetent.

Don't be an apologist, peer over your rose tinted glasses.

I think OMGImInPattaya was simply trying to inform any interested parties of what has happened.

Look at the Daily Mail today. Employee stole 1 million GBP from residents association in London, not just TIT.

[easyride]

Sad to hear but it's not just a Thailand thing. Employees defraud their employers all the time, many examples in the UK press. More concerning is the behaviour of the bank. They had nothing to gain so they were just incompetent.

Don't be an apologist, peer over your rose tinted glasses.

I think OMGImInPattaya was simply trying to inform any interested parties of what has happened.

Look at the Daily Mail today. Employee stole 1 million GBP from residents association in London, not just TIT.

Aside from the lack of proof about the Daily Mail (URL??) claim you are still implying that because it happened in the UK it's OK for it to happen in Thailand. It is not! I congratulate the OP for his post. You on the other hand should be posted. I would hope that should anything unfortunate happen to you the authorities, police or friends don't simply say "it happens in the UK" and walk away.

Here's your Daily Mail article. I hardly think a multi million pound developement in Central London equates to the Markland situation. http://www.dailymail.co.uk/news/article-2274407/Brian-Copsey-accused-stealing-1million-collective-residents-fund.html

edited to add URL

Edited February 7, 2013 by easyride

[blackdug]

Sad to hear but it's not just a Thailand thing. Employees defraud their employers all the time, many examples in the UK press. More concerning is the behaviour of the bank. They had nothing to gain so they were just incompetent.

Don't be an apologist, peer over your rose tinted glasses.

I think OMGImInPattaya was simply trying to inform any interested parties of what has happened.

Yup, the thai apologist favorite answer "DUH, ITS THE SAME IN THE UK, DUH, IF YOU DONT LIKE IT GO BACK HOME"

.....seems to be the standard reply to any post now !!!i have visions of these members looking like victor meldrew .....to much rose colored glass wearers appearing ...they ain't,t got a clue!!!!! Something tell,s me they will be seeing the uk well before me as one day the rose color is going to fade and for most it will be total shock...and to late