An American known as ‘Six Pack Jack’, who is connected to a property group in Phuket is the latest alleged major boiler room scammer to be exposed by a victims group comprising academics and businessmen.
This is handy for the ‘Wolves of Bangkok’ who need somewhere to put their ill-gotten gains. And while it is not true that foreigners now have properties taking up all the coastlines of Phuket and Koh Samui, as some Thais believe, it is true that they have made massive investments, under nominee names, in paradise island properties here and of course have a firm grip on Thailand’s – tourism based sex industry.
Several have recently bowed out of the game – well if you have 60 resort properties in Thailand as one claims – why ever work again? The question is now – are they safe or how safe are they and will they be able to keep their properties. With big bucks in Thailand often, if not always, one can avoid the wrath of the law – but the current military government is being praised for taking short cuts in dealing with corruption.
According to a Suan Dusit Poll released yesterday, the public gives the NCPO (Military regime) a high approval rate of 8.82 out of 10 for its first month.
One great leveler for the ‘Wolves’ apparently is Thai women. Most are hitched. Many have children. Most have indicated they want to make Thailand their home, even if they do bank in Belize, Hong Kong and the BVI. They do not want to to back to Georgia, the British West Midlands, London or even Florida. However a significant percentage of properties is in the name of women who may be required to show how they managed to pay cash, how they are paying high mortgages, or who indeed at a safer time might decided they want the property for themselves anyway.
|An historical report by Andrew Drummond for ‘The Times’.|
Six Pack Jack has been involved in multiple ‘boiler room’ schemes, claims the consortium of victims, together with ‘scammers’ already names, and separately. He is actually banned by the Federal Trade Commission in the United States from ‘cold calling’. That presumably is why he is in Asia.
Meanwhile thanks to all those who have written in privately. A number of you have had brushes with boiler rooms, even mistakenly worked for them. Your stories are very interesting, so keep them coming. Your identities will not be revealed. Nor will they be revealed, if you request, for a forthcoming television investigation should you wish to take part.
The latest revelations are here