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A CAUSE FOR COMPLAINT – CW ASSETS AGAIN

DUE DILIGENCE IS NO GOOD – IF IT COMES FROM THE PEOPLE YOU ARE CHECKING OUT!

Here is the latest picture of the site for a condo project in Pattaya which has had rave reviews in the press and on property websites.  Construction should have started way back when and should be completed shortly – but wait – What’s that?  A ‘For Sale’ sign?


Indeed, investors who have put money in Abatalay Condo – on the menu of a company called CW Assets – might want to call their lawyers now. They might want to get together too.

Thai Police are not much interested in foreigners being defrauded in condo deals in Thailand.

Nor it seems are Consumer Protection Departments keen to investigate. To get your cash back you might need to team up so at least ten of you can bring civil (or criminal) cases – depending on what you find you.

Let’s hope they pay your cash back before offering to put it instead to a future venture.

Here’s what punters were promised

But check previous stories on this site. They may help you decide. There is an amusing email exchange with the boss.

Apparently if you ring the number on the board you get the angry owner of the land who says CW Assets never paid her.

All they ever forked up was 100,000 baht two years ago – but they have taken cash on some 150 apartments.

That means potential buyers would have had to have put 30,000 baht down plus 1/3 of the purchase value within 21 days – another 300,000 baht.

Who is registry for Abatalay. The email wild246@gmail is that of Ian Silver who registered Abatalay and
several other sites

So could this have happened before – oh dear yes. Royal View Talay went up in smoke involving that guy with the wild246 gmail account.

from newpattaya

Readers of this site will know we warned what CW Assets could be up to a long time ago.

from asiatradingonlinr

But wait CW Assets paid for this land outright. Did not they tell us all so? This below is what they company put on the internet so that prospective buyers should be be assured. CW Assets called it ‘Due Diligence’.

(We have saved this together with url if victims need it later)

Well no they did not of course which is why the actual owner of the land had the contract cancelled – see below right.

Imorn Luekhamharn – the ‘boss.

Now Abatalay has been pulled completely from CW Asset’s website so I called the company and spoke to a guy calling himself John.

AD:‘What’s happened to Abatalay”, I asked.

J:‘Oh. I spoke to the owner and he said we were waiting for EIA approval (environmental investigation).’

AD:‘But, John, Abatalay is no longer even on your website.’
J:‘Yes, I must mention that to the owner’.

Cancellation of land sale contract. No 9 million
baht was ever paid!

AD:‘But John there is a for sale sign on the land where Abatalay is mean to be – and the number on the for-sale sign is not CW Asset’s.

J:“Is that true? Thank you for telling me. I must tell the owner that.

AD:“Yes, John and you should tell the 150 people who have put down money there.”

J: “Yes, that’s true”.

AD: “Goodbye John”.

J: “Goodbye and Thank you”.

BE CAREFUL OUT THERE!


Flying Sporran Reader
Service

Note to potential victims: Its probably best to get together on this rather than try and complain individually if you do not get your money back. You can contact each other through this site if needs be.

(Click the links below to see how we followed this case)
About the Author

Andrew Drummond

Andrew Drummond is a British independent journalist and occasional television documentary maker. He is a former Fleet Street, London, journalist having worked at the Evening Standard, Daily Mail, Mail on Sunday, News of the World, Observer and The Times.

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