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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. Pattaya is famous for its ski boats, water sports like fishing with all night bars and nightlife. 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.  

PATTAYA CONDOMINIUM DEVELOPMENT GONE

WRONG FOR INVESTOR BY UK HUSBAND WIFE :

2009 foreigners are being taken for a ride when they invest in condos that haven't even been started. The hype regarding the exclusiveness of condos by the sea have seen some incomplete or Condos not even started and the investors have been short pocketed by certain foreigners and Thais with no comeback.

Anyone can be a property developer over night and Pattaya atracts all sorts into the business. Most foreigners have never ever been a developer but its easy to set up a company and then get a company to build your dream money making venture. Real Estate in Thailand is not regulated at all so theres many cowboys out there busy building or trying to get fuinds to build a dram condo complex. Heres a case of a UK ex Brit construction turned into a real estate property agent in Bang Saray near Pattaya. His name is Craig Rhodes,(45) and with his his wife Piyaporn Chanthorn, (28) from Khon Kaen they set up a company in Thailand under the name of Country Property Land & Development. Little did one know that they are really another pair of crooks who have fleeced foreigners and intimidated them. But they were arrested by the Crime Suppression Division (CSD) in Pattaya on 24 March 2008, accused of cheating a US business partner out of more than Bt40 million on a Pattaya condo land and complex deal.

Rhodes, a real estate agent in Bang Saray, ran the now deunct Country Property Land & Development, misrepresented the value of a Pattaya condominium project, inflating the price to Bt45 million for a 10 rai plot of land, when it was, in fact, only worth Bt32 million. Craig & Piyaporn sold land in Na Jomtien and was reputed as market leader in the Bang Saray, Sattahip and Na Jomtien areas of the eastern seaboard.

On 30th Jan 2008 Pattaya Today describerd Craig as: "Country Properties have their own, local building projects including Bang Saray Heights, mountain side homes for the discerning luxury buyer. They are described on the companys website www.countryproperty services.com But theres a lot of expertise too in their key function of selling land and assisting buyers and renters with houses and condos. Craig & Piyaporns personal approach of business integrity and common sense are big pluses. Country Properties current sales office is at 98/15 Sukhumvit Road, Moo 9, bang Saray. Phone contacts are 081 576 0035 English and 089 047 5604 for Thai. When I last interviewed Craig Rhodes nearly three years ago, I described him as a Manchester lad made good." Pattaya Today Barry Kenyon

Meet him now and you can see that was indeed an understatement".

Investigators discovered the couple had established a firm to develop land projects in Thailand hence the formation of Country Property Land & Development. They then advertised projects in Pattaya mags and the web looking for would be foreign investors to invest with them. One of these investors was Retired US army officer, James Russell Generazzo,( 61) who thought it could be a go. James was then persuaded by high pitched sales talk to invest Bt43.5 million in a condo project, & Rhodes and his wife went about to set up two businesses to buy two separate five-rai land plots
The money changed hands but the condo was never started four months later. Checking up on the land values himself James realized he was being taken for a ride and demanded the couple resign as executives of the two firms and return Bt43.5 million he had invested to him. Well as anyone knows in Thailand this is not an easy task? However, the suspects set a pre-condition that he must pay them Bt10 million first, at which point Mr Generazzo was wise enough to contact the CSD, whose Deputy Chief Pol Col Jaruwat Waisaya who supported the American investor, saying there were grounds the couple had swindled Mr Generazzo. It is also alleged that Mr. Generazzo had received death threats from Rhodes as he had a history of intimidation to other foreigners. The police investigation team also said Rhodes and his wife, Piyaporn, had a history of preying on foreigners, but they were intimidated by Rhodes and never complained to police. Here are the details of the company but as you will see the website is up for sale and no more!!!

Country Properties Land & Development, 138/20 Moo 8, Sukhumvit Road, Bang Saray -5604Email: countryproperty@loxinfo.co.th www.countrypropertyservices.com is defunct and up for sale??

WHO TO MAKE A REPORT TO ABOVE

We hope that the US investor has managed to get his money back.

If you have had a problem tell us about your Pattaya Property Scam & all correspondance in complete confidence.

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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 nor deposits returned and quick rich scams. Here are some of them! [ READ MR SHAWS SCAM ] [ Ian Silver Pattaya Investment story ] Unfinished Property development[ BEACHES RESORT SCAM ] [ OCEAN 1 TOWER ] [ THAI PROPERTY DEVELOPER SCAMS ]

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