Russian expat arrested for property fraud in Phuket

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Russian expat arrested for property fraud in Phuket

Phuket Gazette

 

          

Mr Shuvalov is wanted for fraud cases dating back to 2008. Photo: Kritsada Mueanhawong

 

PHUKET: -- The Immigration Police on Wednesday arrested a Russian expat wanted for property fraud in Phuket.

The police team, led by Col Guntapat Phongsathabodee, arrested Matvey Shuvalov at his house in Cherng Talay.

An arrest warrant for Mr Shuvalov was issued by Interpol in July last year for allegedly scamming Russian buyers out of US$248,000 for the purchase of 200 condominiums in Thailand, but never transferring the property to the customers.

 

Full story: http://www.phuketgazette.net/phuket-news/Russian-expat-arrested-property-fraud-Phuket/66429?desktopversion

 

-- © Copyright Phuket Gazette 2017-03-31

[madmax2]

At least he is not ripping off and scamming expats in Phuket, which is the usual practice with these sort of people

[Somtamnication]

Looking for my picture on that wall! 

[realenglish1]

Hey Builders do it on a regular bases here in Thailand. Just look at the buildings in and around town and pick the ones that sit there unfurnished

 

Thais grab the money and never finish the projects Lots and Lots of them

The only reason he was arrested was because he is Russian There is no difference between what the Thais do and what he did other than they are Thai

 

Plain and simple 

 

I am not condoning this behavior just pointing it out 

[dotpoom]

2 hours ago, madmax2 said:

At least he is not ripping off and scamming expats in Phuket, which is the usual practice with these sort of people

That should be of great comfort to the people he robbed.

[balo]

He had enough to eat so maybe it will do him good to stay in prison for a few months. 

 

[harleyclarkey]

Phuket, possibly the worst place to even think about buying property.

 

Buy at your peril!

 

Every crooked cop, lawyer and official will have their eye on you.

 

Extraordinary country that refuses to allow even a semblance of ownership. What is their beef with, say, a person on a retirement visa with money, owning a single property freehold....or a 200-year lease?

Edited March 31, 2017 by harleyclarkey

[SOUTHERNSTAR]

The prices of condo's in Phuket has really nosedived - $ 248 000 / 200 = $ 1240 on average per condo ??

[Peterw42]

7 minutes ago, harleyclarkey said:

Phuket, possibly the worst place to even think about buying property.

 

Buy at your peril!

 

Every crooked cop, lawyer and official will have their eye on you.

 

Extraordinary country that refuses to allow even a semblance of ownership. What is their beef with, say, a person on a retirement visa with money, owning a single property freehold....or a 200-year lease?

Not understanding your post, You can own a property (condominium) freehold and police, lawyers and officials dont care less.

[Peterw42]

14 minutes ago, SOUTHERNSTAR said:

The prices of condo's in Phuket has really nosedived - $ 248 000 / 200 = $ 1240 on average per condo ??

Sounds like he was taking deposits, and for many that amount would not be worth chasing, especially if they have gone home to Russia.

[wakeupplease]

4 hours ago, Peterw42 said:

Not understanding your post, You can own a property (condominium) freehold and police, lawyers and officials dont care less.

are you sure? or did you get conned aswell

 

leasehold maybe as long as thais own 51% of the block was the last I heard

[Peterw42]

1 minute ago, wakeupplease said:

are you sure? or did you get conned aswell

 

leasehold maybe as long as thais own 51% of the block was the last I heard

Yes, I am sure, I am sitting in a condo I own and the title deeds, with my name on it, is in the draw. Tens of thousands of foreigners own foreign title condominiums, but cannot own more than 49% of any block.

[wakeupplease]

1 minute ago, Peterw42 said:

Yes, I am sure, I am sitting in a condo I own and the title deeds, with my name on it, is in the draw. Tens of thousands of foreigners own foreign title condominiums, but cannot own more than 49% of any block.

Thanks

 

But I suggest you put them in a safer place not let sticky fingers near them like happened to Ian in phucket

have a good evening

[newnative]

6 hours ago, realenglish1 said:

Hey Builders do it on a regular bases here in Thailand. Just look at the buildings in and around town and pick the ones that sit there unfurnished

 

Thais grab the money and never finish the projects Lots and Lots of them

The only reason he was arrested was because he is Russian There is no difference between what the Thais do and what he did other than they are Thai

 

Plain and simple 

 

I am not condoning this behavior just pointing it out 

Rule #1. Maybe rent if you are short-term, don't know what you are doing,  prefer to be foot-loose, or have any misgivings about buying in Thailand.  Rule #2. If you buy, choose something already built--you can check room layout, view, build quality, facilities, etc.  Rule #3 If you insist on buying off-plan, choose a well-established, well-financed Thai builder with a good track record.  I don't know of any unfinished condo projects by Sansiri, Supalai, Lumpini, SC Asset, Q House, etc.

[Valentine]

16 hours ago, realenglish1 said:

Hey Builders do it on a regular bases here in Thailand. Just look at the buildings in and around town and pick the ones that sit there unfurnished

 

Thais grab the money and never finish the projects Lots and Lots of them

The only reason he was arrested was because he is Russian There is no difference between what the Thais do and what he did other than they are Thai

 

Plain and simple 

 

I am not condoning this behavior just pointing it out 

Many builders bid too low just to get the job. Some think they can make it up with "extras", some realise they cannot complete at the price they put in & scarper once they get a progress payment, there may be others who do it deliberately just to get progress money & run. Then there are customers who run out of money, place unreasonable demands on builders, do not want to make progress payment when due as they are waiting for a more favourable exchange rate (some people seem to think that workers can feed their families or pay their bills without money).

[madmax2]

Its funny how foreigners like to blame Thai people for all the property scams here

Most of the original property scams were started and run by foreigners not Thais

and some of the big ones still are with their false promises of high rental returns which are basically included in the selling price so the purchaser is paying the rent to themselves for the agreed guaranteed period of time 

only people with no experience in property would believe what these scam artists tell them  

[harleyclarkey]

23 hours ago, Peterw42 said:

Not understanding your post, You can own a property (condominium) freehold and police, lawyers and officials dont care less.

I know........yes you can

However, It can just as easily be taken from you if they want.

 

Ask Ian Rance or Colin Vard......http://www.bbc.com/news/magazine-34346620

Edited April 1, 2017 by harleyclarkey

[Foozool]

He was arested for the crime he has done or for the money he got somewhere in Thailand ?

[maddox41]

 Buy a condo? Wouldn't it be better to  keep your property back home and  rent  it out and rent here 

As condo prices her are pang no bang for the buck 

Unless you want to build your own house or villa  as I have I believe it's better to rent 

As most condos after 2 years start to  fall apart no matter who builds it??  if it's a Noble a Superlai  SG Asset or  Ritter doesn't matter  

Rent it when  it starts to crumble move on

If I did choose  to buy a condo in Thailand it would  be Noble or a 20   year old place that at least is still standing 

And as you   know Thais hate old most  want new for the tax breaks and bank fees reduction 

 

But we all have to live somewhere  ??

 

 

 

 

[gk10002000]

so the related link says his visa was canceled and he is being sent back to Russia.  Sure seems like he is not going to be happy.  bye bye warm sunny weather, hello cold russian jail if he survives to get to jail.  I wonder on all the details and if he ever meant to actually develop or build anything, things fell apart and he just got hooked on the idea of scamming the people.

[TallGuyJohninBKK]

Quote

“After Russian police were able to identify the suspect’s exact address, they informed us and we took him into custody. His visa was canceled and he will be deported back to Russia,” said Col Guntapat.

 

So the guy had apparently a valid visa that was canceled as a result of his arrest.

 

And yet the Thai Immigration police had to wait for the Russians to find the guy's location/address in Thailand?   Isn't that what the wonderful 90-day reporting system is supposed to be about, so Thai Immigration can find the bad foreigners to protect Thai society???