Popular Post dotpoom Posted January 1, 2015 Popular Post Share Posted January 1, 2015 Really sorry to hear yours and all the related stories....heartbreaking. I just though I'd throw in my twopence worth. What I am about to say may not mean much to anyone but i say it with all sincerity and in a spirit of support. I have lost everything through drinking, including my family. When I eventually stopped and started to build my life up.... i hit "rock bottom" all over again through gambling (quite common to substitute one addiction for another) which in turn started me drinking again. One would not be considered to far off the mark if they had viewed my life as that of a "loser". I was 53 years of age before I was free of both addictions (plus smoking). I am now going on 66 and have had a life beyond my wildest dreams for the last 13 years living in Thailand and totally free from addiction. ............It is because of the pain and suffering in my past that I have such a beautiful life today,.....Now I see the extraordinary in the most ordinary of things, in nature especially, that I never noticed before. Believe me too when I say...it gets better every day. Things many people might take for granted I count my blessings for...like the ability to get a night's sleep, not to be hungry, to be free from fear....I could go on and on. Now you will think this is really crazy....I would not change one iota of my past if I had the ability to do so.....I had to take every step I took to get to where I am today. "Acceptance" is the key word that will get you through the most difficult circumstances and bring you through to the other side. 11 Link to comment Share on other sites More sharing options...
mandee Posted January 1, 2015 Share Posted January 1, 2015 See "American Greed" on CSI and youtube, to see so many losing their money. Link to comment Share on other sites More sharing options...
Altalake Posted January 1, 2015 Share Posted January 1, 2015 Financial advisors. They do a 5 minute course and hang out their shingles bleating "professionalism". Leeches and crooks - 95% of them. Caveat emptor.........Even the big banks are the same. 1 Link to comment Share on other sites More sharing options...
haybilly Posted January 1, 2015 Share Posted January 1, 2015 Wow, there's some insensitive people on here- I guess it could all be a Troll post, but I can't really see why, apart from the fact that after what the OP claims to have been through I would certainly not be as stoical as he seems; anyway, on the basis that it's possibly true, surely comments like "There's a sucker born every minute"are somewhat harsh. Incidentally, I will be checking out the 'Ex-Pat Investors' website, since I am investing with a slightly controversial Fund ATM, and in the past I was also with Brandeaux Student Accommodation Fund, but my broker advised that I get out, and it sounds like I owe him for that advice. For many retired Ex-Pats, the standard rates of Interest available at high street banks just are not good enough to grow any real interest so we all search for higher yield options-I can sympathize with the OP, if indeed he is genuine. 2 Link to comment Share on other sites More sharing options...
Popular Post Strangebrew Posted January 1, 2015 Popular Post Share Posted January 1, 2015 I invested in a 401K that allowed you to pick where you money was invested Which worked out great for me I read all the papers keep track of investments sold when I felt they were going south and bought when I felt they would surge. Best part of it was a lot of my invest I picked by listening to people who were rich. My over all yearly return was between 15 and 20% which I liked But others I knew took advice of others and lot 50,000 and up, one guy had to hold off on his retirement because of it. Never risk what you can't afford to lose PERIOD !!! I don't trust anyone with my money. Actually only person I trust is myself and I watch me very closely. 4 Link to comment Share on other sites More sharing options...
steve654 Posted January 1, 2015 Share Posted January 1, 2015 (edited) First rule in any country is "never" use a financial advisor. Your supposed to be using your own smarts to invest, no let someone who has zero interest in you invest your hard earned money. I can't tell you how many people I know that have lost their life savings and how many have been scammed in the west alone. Each and everyone of them used a financial advisor. In 2008 every bank in our city reshuffled their financial advisors to other towns so that everyone was left in the dark when asking "what happened to my money". It is standard practice. Edited January 1, 2015 by steve654 2 Link to comment Share on other sites More sharing options...
jacko45k Posted January 1, 2015 Share Posted January 1, 2015 Thailand is a good hunting ground for these types. A lot of retired people with life savings in the bank. Many with a desire to improve on returns........ I am another mug, with a different outfit that just broke. 1 Link to comment Share on other sites More sharing options...
BKKdreaming Posted January 1, 2015 Share Posted January 1, 2015 (edited) much smaller numbers , but a Thai girl I know was going to invest all her savings on a slick talking Aussie who spoke Thai. it was for womens cosmetics and you would make 30,000 baht a month....... Lucky she showed me the youtube video so I could explain that the salesman was the one who would make the money , and I asked her would she believe a Thai that told her the same thing ? NOPE , she belived the Aussie only because he spoke Thai So look out for things that sounds too good , no matter who is selling Rainbows Edited January 1, 2015 by BKKdreaming 1 Link to comment Share on other sites More sharing options...
mihalis Posted January 1, 2015 Share Posted January 1, 2015 Im sorry to hear.. But, scams are all over the place, not only in Thailand, a friend lost 1 million dollars in Australia................ Link to comment Share on other sites More sharing options...
Popular Post bazza40 Posted January 1, 2015 Popular Post Share Posted January 1, 2015 Report the con man to ASIC? As useful as tits on a bull. ASIC have the greatest track record of any government body in terms of inaction. It took them 8 years to wake up to Storm Financial, despite repeated prodding from whistleblowers - even one within ASIC. Bridgecorp, Hastings Capital, Elderslie, Teys, City Pacific, MFS, First Capital Securities, Westpoint, Shakespeare Haney, IMMS, Provident....the list goes on and on where ASIC did SFA for investors. The key to preserving one's hard-earned money is - don't give the bastards any oxygen. Financial advisers - how do you know which are good and which are bad? Financial newsletters - if the advice is so bloody good, why would I want to tell anyone else? Share recommendations - on penny stocks, 90% will be "pump and dump" hoping you'll be sucked into their short-selling routine. Buy property outright, keep cash in a bank, have your own business generating income, or buy precious metals with physical possession. Everything else is flim-flam. 6 Link to comment Share on other sites More sharing options...
IMA_FARANG Posted January 1, 2015 Share Posted January 1, 2015 Sounds like a nice lad dddave. What happened to virtues like integrity, honesty and honour? Capitalism, the glorification of "quick profits", and the "Wolf of Wall Street" did. Link to comment Share on other sites More sharing options...
AWOL Geordie Posted January 1, 2015 Author Share Posted January 1, 2015 Sounds like a nice lad dddave. What happened to virtues like integrity, honesty and honour? Capitalism, the glorification of "quick profits", and the "Wolf of Wall Street" did. A crying shame. I'm a maths teacher (ironic given this financial folly) and I like to show 16yo+ students a youtube video called "The American Dream". It's an entertaining 30minute cartoon about banking. One part shows, rather tellingly, how cheating bankers were hung in ancient times. Now they're simply rich. They've gotten too powerful again IMO. 1 Link to comment Share on other sites More sharing options...
Popular Post CMCMANGOMAN Posted January 1, 2015 Popular Post Share Posted January 1, 2015 (edited) True story and this definately happened to me in Thailand. Myself and 5 other farang investors were robbed of our collective investment. This amount was around 15 million baht. Our farang investment banker was murdered by his Thai gay lover. His death sentence came delivered via cockroach poison deposited in a can of ice cold Coca Cola. The Thai police ruled it a suicide immediately of course. As a group, we hired lawyers and a private investigator. They found evidence of murder, followed the missing money. The farang bankers Thai gaylover was now in complete control of all monies, funds, assets and computer records. The Thai police were informed... alas, nothing could be done. The gay lover was related, by blood, to the highest of high connections. Sit down and shut up. Case closed. Go away farangs. Forever. Edited to say, that up to a year prior to the bankers murder, I was receiving regular deposits in my Thai bank account of 170,000 baht per month based on my initial investment. All told, after roi, I lost approximately 400,000 baht cash on the investment. I'll survive. Others weren't as lucky. Edited January 1, 2015 by CMCMANGOMAN 6 Link to comment Share on other sites More sharing options...
Popular Post Langsuan Man Posted January 1, 2015 Popular Post Share Posted January 1, 2015 My theory about financial advisers has always been the same, no matter where they are from: If they knew so damn much why are they working for you ? Logic would dictate that they should be investing their own money so that they don't have to work for you 3 Link to comment Share on other sites More sharing options...
makkam Posted January 1, 2015 Share Posted January 1, 2015 You found out the hard way not to trust anyone in Thailand, especially when money or property is involved,just hope you are able to get back on your feet again,it would also be nice if you could get some justice,but that rarely happens. regards Worgeordie yeah ponzi schemes are purely peculiar to thailand.again another excuse to bash Thais and Thailand. pathetic 1 Link to comment Share on other sites More sharing options...
JacChang Posted January 1, 2015 Share Posted January 1, 2015 I'm just wondering, how much % are they giving you guys for the Ponzi schemes? There are so many quality investment products out there that are legits and information is readily available, with decent 4-8% returns per year. It puzzles me anyone would even try any Ponzi schemes. It's not like we are out of investments and desperate. Seriously... Time deposits, bonds, and stocks are all that you need in life, and it will get you a life of endless money. Ask for advice, there are plenty of gurus here on this forum. They are happy to help you. For those who failed in stocks, if you don't mind, we could discuss what went wrong, there is clear evidence. Blame the person, not the environment please... Link to comment Share on other sites More sharing options...
NoshowJones Posted January 1, 2015 Share Posted January 1, 2015 You said the most truthful thing I have ever heard in my life " the best criminals all wear suits". Link to comment Share on other sites More sharing options...
luk AJ Posted January 1, 2015 Share Posted January 1, 2015 Well somebody stole your money and I suppose you know who they are. If it were my money I would go after it, these suckers would not have one night of good sleep left. Offer 20-30% commission to "collectors" really don't accept somebody steals your money! 1 Link to comment Share on other sites More sharing options...
ScotBkk Posted January 1, 2015 Share Posted January 1, 2015 (edited) Geordie, Unfortunately,I too know the feeling very well.Personally, I probably met one of the World's elitist crooks who scammed me Family/Friends for a load of money on a fake oil deal. It isn't greed as you've 'put it upon yourself' to proportionate blame. All, you was doing was trying to make more money on your investments. I may even write about the animal who screwed us one-day which was so well set-up, I would like to shake his hand before I did something I may regret.I truly pray you get over it and believe me- its ok for people to give advise after the main event. However, I too feel a mug and just put it down to experience. I wrote this a brief note (below) a while back.IT TAKES A THIEF !! International Thief on a grand scale. This scum of the earth has absolutely no morals, a more wretched man you'll never meet. He needs jailed, shamed and punished for his crimes to society. He, being a complete parasite, that will never repent for his sins. This master of deception needs to be written about. If he played himself in a movie he'd 100% get an Oscar. I would love to meet up with him once again, this to shake his hand for having us over which can only be described as sheer brilliance and then strangle the B**tard !! We live and learn. Boy did I learn LOL !! Any comments about me and Defamation - need express - would love to see him come out the woodwork considering his SCAMS are known Worldwide like a total con for $500,000,000 involving the Cook Islands and massive Frauds everywhere else. He even had the audacity, to ask me to come work for him in Labuan - AFTER he stole €50,000 from a bank transaction for my Kids schooling in Phuket. I'm sorry for explaining about my own grief although - I really feel for you. Bad people everywhere but my experience was in Thailand too and your post brought it all back to me - with a Bang!!!All the best my friend. Edited January 1, 2015 by ScotBkk 1 Link to comment Share on other sites More sharing options...
NoshowJones Posted January 1, 2015 Share Posted January 1, 2015 Op I know 2 people here in Hua Hin who I am sure invested in the same scheme, i'm sure it's the same one as they mentioned a High court judge being involved, they have both lost considerable amounts. What's the big deal with a high Court judge anyway? They are only lawyers who happen to have reached the higher echelons. Like the OP says, "the best criminals all wear suits" and I lot of them have silly titles that should have remained in the eighteenth century, like Sirs, Lords and their silly wigs, Dukes etc. Link to comment Share on other sites More sharing options...
barmatt Posted January 1, 2015 Share Posted January 1, 2015 When investing never put all your eggs into one basket for the obvious reason. Diversify and spead the risk over several portfolios eg: property, cash, shares that way you minimise your loses. Link to comment Share on other sites More sharing options...
NoshowJones Posted January 1, 2015 Share Posted January 1, 2015 First rule in any country is "never" use a financial advisor. Your supposed to be using your own smarts to invest, no let someone who has zero interest in you invest your hard earned money. I can't tell you how many people I know that have lost their life savings and how many have been scammed in the west alone. Each and everyone of them used a financial advisor. In 2008 every bank in our city reshuffled their financial advisors to other towns so that everyone was left in the dark when asking "what happened to my money". It is standard practice. Again, a reminder of what the OP said "the best criminals all wear suits", Financial advisers, and probably the worst of the lot, Politicians, they do more robbing and cheating against ordinary people, particularly the ones in the UK. Link to comment Share on other sites More sharing options...
janpharma Posted January 1, 2015 Share Posted January 1, 2015 Don't ever trust anyone in the amazing LOS... 2 Link to comment Share on other sites More sharing options...
Popular Post Just1Voice Posted January 1, 2015 Popular Post Share Posted January 1, 2015 Little over a year ago, my wife comes to me and tells me about this "great opportunity" to work for a stock company. She showed me all their slick promo brochures, and told me how one of her friends was now making over 500,000 baht a month from it. The thing that jumped out at me was that you could "buy" into certain levels of investment. The higher the level, the higher your commissions. Ponzi Scheme alarm bells went off. I agreed to go with her to their next meeting. Lavish deal at a hotel banquet room, with many "happy speakers" telling how their lives had been changed and made better. All in all, it sounded good, but still had that nagging feeling in the back of my head. Told my wife "No". Then went online for a couple of days to do some research on the company. Turned out they were not listed on the stock exchanges of the US, France, England and Japan the way they claimed, and were actually under investigation in the U.S. I pointed all this out to my wife, and it changed her mind. Three months later the "top dogs" of the company here in Thailand were all arrested and charged with fraud. Her "friend", who had been doing so well, fled the country just ahead of the cops and some very upset investors who wanted their money back. My wife's only comment. "I knew I married a smart man". For anything thinking of investing in something that sounds so good, the internet is your best friend. Use it. 4 Link to comment Share on other sites More sharing options...
rhodie Posted January 1, 2015 Share Posted January 1, 2015 Heartbreaking all these stories. Just hope you can all recover to the best extent possible. Good luck. Link to comment Share on other sites More sharing options...
NoshowJones Posted January 1, 2015 Share Posted January 1, 2015 Well somebody stole your money and I suppose you know who they are. If it were my money I would go after it, these suckers would not have one night of good sleep left. Offer 20-30% commission to "collectors" really don't accept somebody steals your money! If governments steal your money, like in the UK, what can you do apart from "cheating" to try and get some of it back. Link to comment Share on other sites More sharing options...
NoshowJones Posted January 1, 2015 Share Posted January 1, 2015 Well somebody stole your money and I suppose you know who they are. If it were my money I would go after it, these suckers would not have one night of good sleep left. Offer 20-30% commission to "collectors" really don't accept somebody steals your money! If governments steal your money, like in the UK, what can you do apart from "cheating" to try and get some of it back. Replace "cheating" with "giving them some of their own medicine" 1 Link to comment Share on other sites More sharing options...
NoshowJones Posted January 1, 2015 Share Posted January 1, 2015 Don't ever trust anyone in the amazing LOS... I would trust any Thai (except ones wearing suits, who are in the small minority) before I would trust most Westerners. 1 Link to comment Share on other sites More sharing options...
Loptr Posted January 1, 2015 Share Posted January 1, 2015 One infallible rule, if any investment promotion says "Risk Free", don't listen to another word! Turn and run. There is no such thing as "Risk Free". An acquaintance of mine who was teaching in Thailand pretty much went bust. The usual reasons: too many girlfriends, too much booze, living outside his income. He's a glib talker...can be very convincing when pressing his views on things. Last year, he returned to Australia and landed a job selling "Retirement Plans" to elderly citizens, his commissions are huge and he's making a bundle. He returned to Thailand not too long ago for a 2 month "holiday", living large and tossing money all over the place. "I'll make it all back in a few weeks!" He told us. I can't help thinking of all the poor retirees who invested in his product and are funding his happy lifestyle out of their pockets. Any plan that pays commissions as outlandish as what he gets has got to be as dodgy as a game of "Three Card Monte". When I asked him about it, his reply was simple: "Not my problem." I've reduced your advice down to one simple factor... If I am approached by a farang, any farang with investment advice, I run away as fast as I can... Too many horror stories out there, ranging from the CM Expat Club to the likes of real estate moguls in Pattaya / Jomtien... As the old adage goes, if it appears to be too good to be true, it usually is... 1 Link to comment Share on other sites More sharing options...
georgemandm Posted January 1, 2015 Share Posted January 1, 2015 One infallible rule, if any investment promotion says "Risk Free", don't listen to another word! Turn and run. There is no such thing as "Risk Free". An acquaintance of mine who was teaching in Thailand pretty much went bust. The usual reasons: too many girlfriends, too much booze, living outside his income. He's a glib talker...can be very convincing when pressing his views on things. Last year, he returned to Australia and landed a job selling "Retirement Plans" to elderly citizens, his commissions are huge and he's making a bundle. He returned to Thailand not too long ago for a 2 month "holiday", living large and tossing money all over the place. "I'll make it all back in a few weeks!" He told us. I can't help thinking of all the poor retirees who invested in his product and are funding his happy lifestyle out of their pockets. Any plan that pays commissions as outlandish as what he gets has got to be as dodgy as a game of "Three Card Monte". When I asked him about it, his reply was simple: "Not my problem." what a c???t your friend is he would be no friend of mine and if I know his name and were he work I would dob the c????t in no,problem like the c???t said to you taking money of old people one day that c???t will get old and I hop it happens to that c???t like a thai would say som nom ner 1 Link to comment Share on other sites More sharing options...
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