BUT SOME OF THE COCKROACHES NOW FACE EXPOSURE
|Some flash opportunists are also offering their tele-sales |
services to the highest bidder.
This can be due to a number of reasons. The price of oil has crashed (deliberately manipulated perhaps) and the world economy is rocking or teetering again. People are looking for somewhere more lucrative to put their cash, while the big oil companies stop drilling and wait till the price rises again.
The second reason of course is that while certain sections of the Royal Thai Police do offer them protection, and I will be going into that in later stories, Bangkok’s boiler rooms, illegal share trading houses operated by such people characterised in the films ‘Boiler Room’ with Vin Diesel and Ben Affleck, and Wolf of Wall Street, starring Leonardo di Caprio. have traditionally been part of the Royal Thai Army’s fiscal domain.
There has been resurgent of confidence in Bangkok as a fraud hub again, a glossy reputation which had been tainted because various police units also wanted to muscle in and get their share of the rich pickings. But now the army are in control one can almost hear the choruses of ‘We’re in the money’.
So once again people are offering ‘lists’ of potential clients to defraud in Europe and Australia and now even the United States and the UK after a long gap. Australia and certain European countries have been particularly vulnerable as they do not have quite so cohesive financial watchdogs. Australia’s ASIC is a sick dog.
Some opportunists are also offering their tele-sales services to the highest bidder.
So the rewards are out there for any slimy character who wants to take the pension off a pensioner. And the boiler trade also has its own service industry which include crooks who supply the VOIP – Voice Over Internet Protocol - communications, those who make the glossy brochures, giving quarterly figures for companies (printed up to 2 years before the figures are realized) and of course banking facilities.
They even appear to be operating on Koh Phangan on top of the traditional hubs in Bangkok, Phuket and Chiang Mai (a Canadian stronghold) but why should anybody be surprised. But that's handy. If anybody whistleblows down there his demise can easily be put down to a drugs death.
And once again neither will the world be surprised when its revealed that some of the big international banks supply banking facilities to these people knowing full well they are holding the proceeds of international fraud and for which they take special commissions.
The problem for the boiler room boys is knowing where to stash the cash.
Well that’s not so hard in Thailand because rampant corruption has allowed them to set up over 120
nominees companies, and they have shared a lot of the money around Thailand’s tourist and expat orientated sex industry, in particular in Nana Plaza, Bangkok, Soi Cowboy, in lots of theme bars and restaurants, and in businesses and property in Pattaya, Samui, Phuket and Chiang Mai.
They hold the master lease on Nana Entertainment Plaza and in doing so have greatly reduced the ‘quality’ , if that’s what I can call it, of entertainment there, while driving up the prices.
This has led to a mass exodus of punters to the outside bars on Soi 4 Sukhumvit run by a Thai woman called ‘Maieow’ who is raking the cash in pulling in punters with cheaper beer and cheaper, well prostitutes.
The boiler rooms, who formerly also ran the Coyote restaurants in Thailand, have now sold that brand and one has re-emerged as the ‘Dallas Steak Bar and Grill’ in Sukhumvit Soi 33.
It’s owned by boiler room king Mark Hutcherson, not from Texas, but Georgia.
It has a number of controversial reviews both on ‘Stickman Bangkok’ and on TripAdvisor.
Hutcherson of course should be well known to the readers of this site.
A few years ago, described as being in the oil and gas business Hutcherson was kidnapped and held to ransom in Bangkok.
Unfortunately, for later victims, he was rescued in an operation co-ordinated by FBI officials working with Thai police.
Among those later charged were several policeman and the McClearly Brothers, James and John, who had both Thai and US nationality and worked in Hutcherson's boiler room and another boiler room run by Briton Paul John Hayward, from Birmingham, who later rose to be one of today's 'Big Five'.
The McClealy brothers protested their innocence claiming they went to the police to reveal all about the boiler room operations and the police off their own back decided on a kidnap and ransom demand.
Some of their material was convincing - but they got stiffer sentences than the police. They said the first time they actually met the police who carried out the kidnapping - was in jail!
|Part of a McClearly document on Hutcherson and Hayward|
Footnote: Bangkok's infamous boiler rooms have been allowed to run with impunity for over 20 years by the Thai authorities. Famously there were major raids in 2001 boiler rooms trading under the names the Brinton Group, Benson Dupont Capital Management, Osiris Asia Pacific, Strategic Alliance Corporation, Sigama Capital Management and Dreyfus Capital, at Bangkok City Tower and at Foreign Currency International, and even International Asset Management in 2001. There raids were described by Australia's ASIC as triumph of international co-operation.
It was not.Some 78 people were deported but fraud charges were dropped by Thailand's Security Exchange Commission, against the alleged ringleaders - No moves were made on the cash from the frauds, most of which was in Hong Kong bank accounts.
Those named above were merely charged with trading without a licence and fined and were able to resume straight away. Of those arrested (list below) many remain.
01. Scott Prirembel, 29 (US)02. Matthew Nutta, 28 (Can)03. Steve Buchley, 37 (Brit)04. Peter Frain,37 (Brit)05. Steven Sharpe, 42 (Can)06. David Kelly, 26 (Ire)07. Justin Beerling, 29 (Aust)08. Malcolm Chambers, 43 (Scot)09. Kevin Marsh, 31 (Brit)10. Brian Gallant, 38 (Can)11. Adrian Fobert Willis, 54 (Brit)12. Peter Townshend, 33 (Brit)13. Nathan Woods, 29 (Brit)14. HermanSudielson, 79 (US)15. Richard Fowle, 33 (Brit)16. Wayne Cardoza, 34 (Jam)17. Paul Ryan,32 (Ire)18. Paul O?Leary, 31 (Ire)19. Radolph Fitzgerald, 41 (Brit)20. Sean Fisher, 32 (Brit)
21. Gregory Doel, 31 (Brit)22. Shanvorn Assassi, 48 (Liberia)23. Stephen Doherty, 30 (Ire)
24. Benjamin Davidson, 25 (Brit)25. James Burn, 28 (Brit)26. Scott McInnis, 26 (US)
27. Patricia Shaw, 31 (Aust)28. David Karl Ryan, 28 (Aust)29. Scott McGee, 31 (NZ)
30. Sian Gould, 26 (Brit)31. Wayne Blandford, 45 (Aust)32. John McGuile, 25 (Brit)
33. Steven Hooper, 28 (Brit) *34. Daniel Smith, 29 (Brit)35. Setald Jacobson, 71 (Can)36. Ronald Silvertro, 55 (US)37. Edward Jackman, 67 (US)38. Claire Dickson, 22 (Brit)39. Homce Bradshaw, 32 (Brit)40. Keely Smith, 24 (Brit)41. Brian Paterson, 49 (Aust)42. Cecily Destate, 32 (P?pines)
43. Roger Charles, 31 (Brit)44. Alyse Penny, 20 (Brit)45. William Seymour, 42 (Aust)46. Chris Cowle, 33 (Brit)47. Andrew Low, 23 (Brit)48. Norman Hewitt,58 (Brit)49. Bruce James, 43 (Can)
50. Graham Hewetts, 21 (Brit)51. Neil Delahaye, 26 (Ire)52. Ronnie Kywe, 23, (Burma)53. Foo Chee Wai, 29 (M?sia)54. Marina Diaz, 28 (Spain)55. Matthew Davis, 29 (Brit)56. Mark Iorbert, 34 (Brit)
57. Robert Peter Mooney, 42 (Brit)58. Robert Frandsen, 28 (Aust)59. Jonathan La Ourgmaini,29 (US)60. Lee Mun Yoke, 30 (S?pore)61. Jeanifer Angeles, 23 (P'pines)62. Michael Scales, 26 (Ire)
63. James Ryan, 20 (Brit)64. Rodoto Oampo, 38 (P'pines)65. Neville Veia, 46 (Aust)66. Junel Jubutay, 31 (P'pines)67. Peter Bradley, 40 (Aust)68. Yuth Chareen, 26 (US)69. Michael Lavin, 32 (Ire)70. OT Boutisia, 58 (P?pines)71. Sudha V, 24 (India)72. Davin Darpal Bajaj, 37 (S?pore)
73. Tod Maknowy, 53 (US)74. Mark Kanforian, 38 (US)75. Steven Lokomiwitz, 40 (US)
76. Patrion O?Gertiny, 30 (Ire)77. Christopher Scales, 23 (Ire)78. Kenneth Kamebod, 40 (US)79. Graig Zucker, 40 (US)80. Seamus Ryan, 25 (Brit)81. Jason Rich, 24 (Brit) - Jason Garrick Rich *
82. CT Bautista, 34 (P?pines)83. Scott Fisher, 34 (Aust) - Scott Campbell Fisher *84. Paul Hickey, 48 (Ire) - Paul Mary Hickey *85. John Messey, 37 (Brit)
It is of course illegal to share trade in Thailand without a licence but the regulatory authorities are not exactly on top of the game.