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ASIA TRADING POST PROPERTY NEWS The seaside city of Pattaya in Thailand is a haven for the single minded tourists and ex pat haven boasting some 1600 bars. It is situated on a 4 km stretch of road along the sea & along the North end are around 96 bars, hotels and restaurants. This is the seafood paradise; the place where down and outers lose it all; where those escaping their winters come for Thailand's summers and where anything goes ---well almost. Pattaya is famous for its ski boats, water sports like fishing with all night bars and nightlife and the odd scam or 2. Formally a US Military rest stop and recreation from the 60s and 70s it saw a rapid change in its development. Today it is a premier beach resort with over 1 million tourists visiting a year--loads of self loaders and a few of the old retirees. PATTAYA PROPERTY PROJECT DEVELOPERS IN PATTAYA HAVE POSTED FRAUDULENT DOCUMENTS IN IORDER TO SECURE CONTRACTS FROM CITY HALL IN PATTAYA
Even the nice looking graphic artist depictions, one cannot resist the temptation to get in first and buy a condo right on the Pattaya Beach with a name that has hit the record books, and this breathtaking highrise was to be the mega darling of Pattaya. Well it seems even Thai contractors are prone to falsifying documentsto Build mega projects
Pattaya, September 2010: Three contractors who worked on different construction projects for Pattaya City Hall are being indicted over numerous fraudulent documents in securing the contracts. Pattaya City Hall are realing about the Administrative corruption claims within the City Hall. It is now inteneded that litigation proceedings against the three contractors, True Work Buiter, Reoflick Corporation and KKD Engineers, have been enacted over numerous fraudulent documents provided upon their application to secure various construction contracts throughout the city. These companies are vying for building work on some of the major building construction in Pattaya and then getting upfront monies to start the projects with very fraudulent documents some of which have been from Banks. The problem is City Hall has not veted the submitted documents or that someone or some persons in City Hall colluded in allowing these documents not to be verified. This problem is rampant in many Government departments in Thailand where officials are always wanting back handers for assistint companies. In the case of Pattaya City Hall if these documents were checked then the problem would not have arisen but when we have such large amounts some corrupt officals would have signed off these contracts and are also at fault. All three companies are accused of providing false bank guarantee documents for deveopment work on in Pattaya, and there has been documents falsified in the name of the United Overseas Thai Bank (UOB). Infringements by the three contractors are as follows: - True Work Buiter made false bank guarantees on the 6th March 2006 for the construction on the Nokyang Canal in Pattaya. - Reoflick Corporation placed false bank guarantees 4th May 2010 and the 15th June 2010 for the construction of a reinforced concrete roadway and channel joining to Soi Thepprasit 8. - KKD Engineers whic big company made false bank guarantees and submitted also advanced payment documents on six occasion dating from the 7th of April 2006 until the 17th of March 2010. Resultant checks with the UOB Bank in Thailand found that all documents submitted by the three contractors, including a total of 11 other projects separate from the above, were falsified. Litigation against the three contractors by Pattaya City Hall began once UOB confirmed that all documents pertaining to the contracts, worth an estimated Bt458 million, were false and not officially certified by the bank. Mayor Khunpluem said the falsified documents posed significant compensation and insurance problems for City Hall, especially if substandard so a special investigative panel had been setup to probe possible official corruption in the developments, which total more than 15 major projects over the last 5 years by the three contractors.. In addition, any advance payments (wages) made to the contractor are ineligible for deduction off the construction budgets, posing a significant loss for City Hall. In total, all three companies were paid an estimated Bt168 million in advanced payments for the developments.
Any ongoing projects being managed by the three contractors have subsequently been suspended pending investigations, while third party examinations of the completed projects are being undertaken to see if construction costs have been appropriately managed and the development is to appropriate standards.
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PATTAYA INVESTMENT SCAMS: Behind the scenes of fun in Pattaya there are the odd scam artists and one of these is no other than the Australian scam artist Lance Frederick Shaw of www.hiperfinance.com who scammed many foreigners in Pattaya and is still running FREE. Many foreigners have been taken with investment scams, condos never completed nore deposits returned and quick rich scams. [ READ MR SHAWS SCAM ] [ Ian Silver Pattaya Investment story ]
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