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What steps can I take to recover my investment from a duplicitous Thai business partner?
Investment RecoveryThai Business LawLegal AdviceExpat Experiences in ThailandTrust IssuesCultural Considerations in ThailandFraud and Scams
Mar 11, 2023
3 years ago
John ******
ORIGINAL POSTERHello everyone. Over a year ago, I invested a large sum of money into a new Thai business with a Thai friend. I know nothing about business and I don't speak Thai so he is the one who set everything up. It has come to my attention that he is actually a pathological liar and I may have been duped. This guy owns a house and has a family in my village so I have time to plan a course of action. My final goal is to just get all my money back from him so we can go our separate ways. There is a record of my bank transfer to him so I do have proof of giving him money. I know there are many more details I need to give for you guys to give me good advice but for now I just want to know how to get started on going after this guy. Any guidance you guys can give on this matter would be greatly appreciated as many of you have helped me out before. Thank you all so much for reading this and I hope you can help. 😀
TLDR : Answer Summary
An expat who invested a significant amount into a Thai business with a partner who turned out to be a pathological liar is seeking advice on how to recover their money. They feel deceived and want guidance on potential steps to take against their partner, emphasizing their lack of knowledge about business and the Thai language. Commenters generally advise consulting with a lawyer, but many express skepticism about the chances of recovering any funds without proper contracts, given the complexities of Thai law and culture.
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Mike ********
April 1st already !?
Ned *******
Yeah mate
Ellwood **************
Any legal action taken by you in Tahiland against a Thai IS bound to fail.Logic, proof, witnesses will be for nothing. You have been fucked my friend, and I know how you feel.Your only hope is to make contact with some unscrupulous Thais ( not difficult ) pay them money, and ask them to pay your ex partner a little visit. Good luck.
Paul *******
Another barstool rumor. Legal action is actually the best way to go. Using "unscrupulous Thais" might work, but it's illegal and could backfire.
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Paul *******
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Martin *****
I will follow this matter.interesting
John **********
Lawyer listed through Embassy for advice only atm....
My understanding from all aspects & Thai culture of statement in short......investment ~ gone! Won't be coming back your way. Maybe a bit of shaming if they have high-standing in Village. Though for you to do this really need to speak the language!
My understanding from all aspects & Thai culture of statement in short......investment ~ gone! Won't be coming back your way. Maybe a bit of shaming if they have high-standing in Village. Though for you to do this really need to speak the language!
Ronald *****
Hire a black magic master to get revenge on him..😂😂😂
Momo *******
Contact a lawyer listed by your Embassy.
Stop talking about this matter in public, as it's a crime in Thailand.
Say good bye to your money, as it's most likely spent, already.
Get your ass out of this village before it's on fire.
These are my advices.
Leaves a few questions:
How long have you been in Thailand before you did establish your business?
How long was your business partner your "friend"?
Didn't you hire a lawyer to establish your business?
Most important: what made you think, this was a clever idea?
I don't get it, man. Another good example for "If you are allowed to hold only 49% of your business, don't invest a large sum of money".
If people don't stop doing it anyway, Thailand will never ever change this rule which isn't there to protect and support the investor.🙄
Stop talking about this matter in public, as it's a crime in Thailand.
Say good bye to your money, as it's most likely spent, already.
Get your ass out of this village before it's on fire.
These are my advices.
Leaves a few questions:
How long have you been in Thailand before you did establish your business?
How long was your business partner your "friend"?
Didn't you hire a lawyer to establish your business?
Most important: what made you think, this was a clever idea?
I don't get it, man. Another good example for "If you are allowed to hold only 49% of your business, don't invest a large sum of money".
If people don't stop doing it anyway, Thailand will never ever change this rule which isn't there to protect and support the investor.🙄
Paul *******
I don't think you understand Thai law. Large investors can already own 100% of a business. It depends on whether it has BOI support. Or your nationality (Americans can invest under the Amity treaty while Australians can own more than 50% of shares in some industries as part of the Australia-Thailand Free Trade Agreement terms).
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Paul *******
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Ian *********
The logical course of action is to take everything you have to a lawyer. You dabbled in business with no knowledge and didn’t separate friendship from business dealings. Don’t make the same mistake again mate. Take it to someone who does have knowledge, and is qualified to act and advise. Likely that’s not on this forum. Many people willing to offer advice from their point of view or personal experience. Whilst that’s helpful, you need to seek (paid) professional advice. I’ve always used Siam Legal in BKK. Probably not the cheapest, but they have always been extremely helpful to me. Good luck!
John ******
ORIGINAL POSTERGood morning group. I just wanted to take time to thank you all for your time and energy for helping me out. I've gotten many helpful ideas from you all and I even appreciate the sarcastic replies as they gave me a good chuckle.😂 The worst part about this situation isn't so much the money but the painful blow to the ego. For now, I'm going to bide my time and wait for my head to clear so I can plan a sane course of action. 😀
Simon *********
Take a picture and point 🤷🏽 😬
Barry ***********
FW
Ryan ********
Find out where he lives etc. Lay low for a while, then k...I.. 'll his whole family 😂😂😂😂😂, no one will ever know
Robert ***********
Put him on the spot. Write up that he was given the money and he is suppose to pay it back and put his name, signature and thumbprint on the paper. You would be surprised how far that goes when you have it. Families don't like shame.
But I bet he doesn't sign it because he knows.
Reminds me of a movie I saw once where the guy was looking for revenge and the other guy said "Arson is a hard crime to prove". 😁
Don't. I am just making light of the situation.
Good luck in your attempts but it's probably gone.
But I bet he doesn't sign it because he knows.
Reminds me of a movie I saw once where the guy was looking for revenge and the other guy said "Arson is a hard crime to prove". 😁
Don't. I am just making light of the situation.
Good luck in your attempts but it's probably gone.
Paul *******
@Colin *******
Thais are known for making up exaggerated or outlandish stories.Colin ********
@Paul ******
upto you, I really don't care if you believe or not but I know this to be tha case.Reply to
Colin ********
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Paul *******
@Colin *******
listen to Robert instead of believing the stories shared around the bar stool.Colin ********
@Paul ******
they aren't bar stories but from familyReply to
Colin ********
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Robert ***********
@Colin *******
I will clarify that both people I know are thai so that may play into it. There are other ways to deal with this issue.Colin ********
@Robert **********
you really don't get it do you? The police will prosecute you. And this guy can sue you for damages and you will lose.Robert ***********
@Colin *******
The police would not prosecute me because having been in business for myself in NY for 50 years and having collected money via conventional and "unconventional" ways, I would not be in a position like this. And if I did run into this issue for some untold reason I would 1. Not be asking a bunch of farangs with no real experience what I should do and 2. Would be doing whatever was "necessary" to right a wrong.You should really leave legal issues to those that have experienced them rather than providing heresay based on one person's experience.
In your case an "Aunt" suing a family member obviously has more to it than meets the eye because most family members don't sue each other as a norm here.
I am done. I am sure you want to have the last say so go ahead.
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Robert ***********
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Colin ********
@Robert **********
outing them on is NOT the way is what I am saying. The Digital Defamation laws are very strict and it doesn't matter if it's the truth or not. A Thai friend of mine was sued for outing her aunt on FB.Robert ***********
@Colin *******
We have a saying in the US. "You can sue a ham sandwich". Anyone can sue. If I want to spend the money I can sue you if I want. Just because someone goes to court means nothing.Reply to
Robert ***********
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Colin ********
@Robert **********
and get sued for defamation in the Thai courtsRobert ***********
@Colin *******
You crack me up. It helps to not have a wandering imagination. Lol.It's not defamation if you can prove he owes you money. You could also sell the debt off to a "local" who would "collect" it on his terms for a lower return.
Colin ********
@Robert **********
in Thailand it doesn't matter ANYTHING derogatory online is illegal whether true or not.Colin ********
@Robert **********
in Thai law it is, even if it's true.Robert ***********
@Colin *******
Well under thai law I can take that little paper to the land office and latch on to his home and anything else he owns and he won't be able to do anything until he pays it off.Colin ********
@Robert **********
no you can'tRobert ***********
@Colin *******
I know 2 people who have done it so whateverReply to
Robert ***********
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Ellen **********
I'm just here for the comments
Ginette *****************
Thailand you don’t now , do not be surprised
Falcon *******
Sorry to inform you that all is gone! Even if you do go to court you will somewhat still lose. Cut your losses and move on.
John *******
Iam calling BS here
Luc ************
Bye bye money. Thats not going to happen.
Martin *********
Fake post
Mark **********
For $1000 USD I will help you. You can trust me.
Paul ********
Oh dear!
First rule in business- trust nobody
First rule in business- trust nobody
Jim ******
Welcome to Thailand and get a Lawyer but not one that will rip you off too because he knows you are gullible!
Brook ********
Trifecta.
1. I know nothing about business, so I invested a large sum of money in business.
2. I don’t speak Thai, so I invested in Thailand.
3. Instead of a competent, experienced, local lawyer before, I decided to go to Facebook for expert legal advice one year later.
1. I know nothing about business, so I invested a large sum of money in business.
2. I don’t speak Thai, so I invested in Thailand.
3. Instead of a competent, experienced, local lawyer before, I decided to go to Facebook for expert legal advice one year later.
Rob ********
@Brook *******
my neighbor asked me last night if I wanted to invest in a bar , or build a bar , on his land ha sib / ha sib , my lass translate for me , I have some Thai , but not for that !!! I laughed we hugged etc , finished beers , when walking home .Dee asked me why not !! I quickly pointed out that my Thai ain’t great and I’ve never ran a bar in my live , I’m a construction person ., went home , 2 minutes Walk , why would I want to invest in something I know nothing about !!Reply to
Rob ********
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John *******
A fool and his money is soon separated
Tulip ********
Benjamin Hart
Dâu ********
Well, let's see. At minimum you would have signed an equity shareholder agreement. So, your shares had the valuation you placed on them at that time.
Literally anything could have happened to your company valuation from then until now and those equity shares hold zero value unless you have a buyer willing to pay that amount for them. Legally, once that money went into the company escrow account, the funds were his to spend however he saw fit unless you signed a shareholder agreement requiring both parties to sign off on all expenditures.
Doubtful you have any of that and therefore, you're 200% screwed in the way of "getting back" your vested capital contributions.
Literally anything could have happened to your company valuation from then until now and those equity shares hold zero value unless you have a buyer willing to pay that amount for them. Legally, once that money went into the company escrow account, the funds were his to spend however he saw fit unless you signed a shareholder agreement requiring both parties to sign off on all expenditures.
Doubtful you have any of that and therefore, you're 200% screwed in the way of "getting back" your vested capital contributions.
Colin ********
You invested a large amount of money into something where you didn't carry out due diligence beforehand. More fool you.no sympathy.
Jamie *************
90% chance of never seeing a dime back. 7% chance of seeing some of it back. 2% chance of it ending in violence, 1% chance of getting most of it back. My suggestion...tell him you have a way to double you're investment, but need the money you gave him back first, to put it in on a flip. Example: say you gave him 100,000 baht, say you have a way to make 150,000 baht, but need that 100,000 baht to put in to a flip. Say the flip already has a buyer lined up, and your friend is letting you in on it because he has no other way to come up with the rest of the cash. The flip will be sold in a month, and you'll then have the original 100,000 PLUS another 150,000 to put a total of 250,000 into the business. If he's scamming you, he will see dollar signs and fall for it. Just have to play it cool, like y'all are the best of friends, and there is no way the flip won't happen.
Harris **********
You need some Thai connections to knock on his door and politely persuade him to return your funds, seriously i think this will be the only way to get it back and those knocking on the door will want a % recovered
James **************
A quite bizzare post. Surely no one would do that.
John **********
Do you have nothing in writing indicating you were investing in a business? Are you a shareholder? A bank statement showing you transferred money is meaningless without paper work and the only thing it proves is you *gave* him money
Nick *******
I knew straight away this is another gullible American on here who hasn't a clue about living in Thailand. Same same boring posts.
Mark ***********
@Nick ******
guess you have never employed shame here. It is highly effective, when all else fails.Reply to
Mark ***********
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Mark ***********
Shame him to no end. On Facebook, Twitter, Instagram and wherever you can. Talk to his parents, his siblings, his associates, his wife, his daughters. Make his life a living hell. Only then you might collect, just so he can regain his lost life.
Paul *******
Might not help much. He might not be on Facebook or simply block you and/or close his account (and ditto for any other social media).
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Paul *******
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Tony *******
You want to buy a bridge in New York
Gordon ********
Just report it to the police, they might make life difficult for him. However that will probably be your only comfort, almost no chance to get you money back I’m afraid.
Colin *********
@Gordon *******
the Police will probably only want their 'cut' 🤣🤣🤣Reply to
Colin *********
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Joshua ***************
You need to contact a lawyer, not facebook
John *******
Ub40 once covered a song called ‘kiss and say goodbye’…..feels appropriate in this case
Colin *********
@John *****
, personally, I would recommend 'turning off comments' or removing the post. Facebook isn't really a good place to be with this type of stuff. A lot of comments are accurate, that your chances of getting your money back are slim, but there's a lot of unnecessary, negative, ridicule happening, which from my viewing of Posts in this Group is not usual. I think that's something that Group Admin should deal with too.Cory **********
Talk to three lawyers at least. If a lawyer tells you a great plan verify plan with more lawyers. Don’t let any lawyer know about each other. Go from there.
Lesley ************
@Cory *********
That's what I would do !Reply to
Lesley ************
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Paul *******
How much money DID you invest?
Paul *******
In the meantime, he mentioned "several hundred THB". By the sounds of it, could be close to 1 million.
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Paul *******
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John ********
I went fishing with my eyes closed and no bait on my gear.. never caught a fish...
Markus **********
Do I miss something?
you invested money and just because you didn't get the assumed return of investment you want your money back?
What about you got 1 million baht profit every week and then your thai partner would say that he will buy you out for the money you invested?
So no you don't know anything about business.
That this person is a liar or shady has nothing to do with it if he actually didn't scam you.
Your story is a bit weird and not enough information to be able to give you some good advice
you invested money and just because you didn't get the assumed return of investment you want your money back?
What about you got 1 million baht profit every week and then your thai partner would say that he will buy you out for the money you invested?
So no you don't know anything about business.
That this person is a liar or shady has nothing to do with it if he actually didn't scam you.
Your story is a bit weird and not enough information to be able to give you some good advice
Markus **********
@Paul ******
it might be like this, but could also be something totally different.Every story has 2 sides and the reason he called him a pathological liar could be anything.
As long as the op do not give us all the information it's impossible for us to know. Based on the information he gave us I think my answer is justified.
Paul *******
@Markus *********
Yes, you're right. We simply don't know the full story.Reply to
Paul *******
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Paul *******
Sounds like you invested money with the village hick who is really a nobody. Just because "he owns a house", which by the sounds of it, is probably some wooden shack on stilts, doesn't make him rich or trustworthy. You should have known better.
Greg ******
Figure out why you made friends with and trusted a pathological liar.
Peter ************
Try find a foreign lawyer practising in thailand for advise and your chances of getting your investment back.
Stéfan ********
Forget it. You will just waste your time, energy and more money.
Paul *******
Why would you invest money in a business you know nothing about? Without knowing Thai or at least having an interpreter with you is another recipe for disaster.
I only do business with Thais when we're both speaking Thai to one another or its a big established company otherwise, if something goes wrong, the end result is what you experienced.
I only do business with Thais when we're both speaking Thai to one another or its a big established company otherwise, if something goes wrong, the end result is what you experienced.
Mika ********
@Paul ******
this probably isn’t even a real post - nobody could be that stupid 🙄Reply to
Mika ********
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Dallas ******
You are right... Nobody knows the intricacies of what went down, but from an independent, macro perspective I would suggest you have learnt a lesson with very expensive consequences. I think you should walk away and save your energy, as you won't see a single Baht back from this misadventure.
Michael **********
In every city (at least here in phuket) there are always a few gentlemen/brothers specialized in getting back credit/money from people that seem not willing to return it. They ain't really cheap but it's still better to get some $ instead of a c 0ck in ur a$$
James ***********
It will be a costly road ahead for you John am afraid, and even then will you get your money back…we talking many thousands here ? Where abouts in Thailand is your Thai pal!
James ***********
Oils be a costly road ahead for you John am afraid, and even then will you get your money back…we talking many thousands here ? Where abouts in Thailand is your Thai pal!
Jim ********
Most business people in Thailand and Bangkok are shady AF. Lesson learned. Don't ever expect to get anything back. Only way is revenge by losing face.
Paul *******
Not true. Define "most". These kinds of people probably aren't even businessmen to begin with, but ordinary scam artists.
Jim ********
@Paul ******
Yeah, you are probably rightReply to
Jim ********
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Jan ************
Stommeling
Ralphy *****
GOODBYE MONEY. No Thai will help you
Colin *********
Like others have said, the chances of recovering your money are slim. Only get a Lawyer to help you if they will agree (legal document) to do the work for free unless they successfully get your money back for you, otherwise you'll lose more money.
One more thing, from what I've read and heard about Thailand laws, do not say anything publicly (name etc.) that will identify your business 'partner' and what he has done. With the way that Thailand laws work, even if you are only stating facts, you will risk being successfully prosecuted by your 'partner'.
One more thing, from what I've read and heard about Thailand laws, do not say anything publicly (name etc.) that will identify your business 'partner' and what he has done. With the way that Thailand laws work, even if you are only stating facts, you will risk being successfully prosecuted by your 'partner'.
Andy ******
Like throwing money into a big black hole you know nothing about ,good luck trying to get the money back but I would say you would struggle even with a lawyer
Colin ***************
You could always Busk. No one's listening.
Lye **********
The best advise is to be smarter next time and don't invest in something you don't understand.
Mark ***********
Ring Brian he will help and best service highly recommend
Jo ****
Thai lawyers will.play you. Money is all they want. If you have no joy. Hit man.
Make sure one you can trust and have an alibi.
Make sure one you can trust and have an alibi.
Paul *******
@Jo ***
No, they won't. You're just a cynic. Without a lawyer, he has almost no chance of recovering his money. With one, he may or may not be able to recover something but he greatly increases his chances of success.Jo ****
@Paul ******
After 26 years here and having many mates in the same predicament as the said guy who posted I would shy away from the lawyer sharks and sort it other ways. Very few success stories in this country. Read the forums.Reply to
Jo ****
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VaiAna **********
I'm just gonna chime in like everyone else here . So you invested money with a Thai , you don't know anything about business but somehow you trusted a stranger and now you want sound advice from FB ? You gotta be kidding , right ? Kiss that money good bye . Try seeking legal advice not FB & why are you seeking advice on FB is beyond me anyway
Ken ********
Bump him off
John-Paul ******
Say goodbye to those funds. Or... get a really good law firm to fight it and pay extra for that service. Frankly... it was not a very smart move to start with. Write it off as a lesson learned and move on. But a good social media posting/s might help take some of the sting out of it.
Just don't do financial dealings without a binding contract for God's sake!
Just don't do financial dealings without a binding contract for God's sake!
Bill ******
Dude you got rear-ended hard, now suck it up and move on and learn
John ******
I suspect the only way you'll get any satisfaction involves a baseball bat!
Rob ********
Well into 6 figures , maximum I counted is 24,000 pounds ? Lawyer will cost you more , retribution will cost you more , best course of action in my opinion is inform everyone in village , thai hate loosing face , as I’m sure your aware , but dishonesty worse , take the hit John but make sure villagers know ,. . I haven’t seen a farang for a month now and my thai still rubbish lol , good luck
Paul *******
@Colin ********
he wasn't successfully prosecuted but received a small fine. He settled with the hotel owner who was a farang by the way.Colin *********
@Paul ******
ok, maybe this is another story that was blown out of proportion 🤔Paul *******
@Colin ********
It was indeed. I think common sense will dictate what is deemed acceptable and what isn't.Reply to
Paul *******
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Paul *******
@Colin ********
that's because that tourist made threats and made stupid comments rather than merely a negative review. He got it coming.Colin *********
@Paul ******
if that's true, yes, he had it coming, but fortunately for him, from the little I heard and read, Agoda helped him out (maybe legal costs?) and then did something in their website (I forget what it was now) that wasn't positive for the hotel, so if that's right, it wasn't all the fault of the tourist. But still, the original poster needs to be wary of Thai laws.Paul *******
@Colin ********
Yes, you're not wrong about that, but my point is that we shouldn't be fear mongering over something like that hotel review story, because there is a backstory, which is that that particular individual did much more than make a negative review. If he had simply stated he didn't enjoy his stay and felt the room was dirty, that would have been fine.Instead he went off on a rant about how the place was "Covid infested" and the F&B manager was a c*** or something like that.
Reply to
Paul *******
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Colin *********
@Rob *******
your "best course of action", in theory, sound like the only option, but; one would have to be extremely careful in doing that due to the way Thailand's laws work. This course of action, I would say, should be done in such a way that this cheating Thai business partner cannot prove who passed the word around the neighbours. If it could be proven, the 'innocent' partner could be successfully prosecuted for slander. I and probably plenty of others have heard of a tourist who left a bad review of a Thai hotel on the "Agoda" website and was successfully prosecuted by the hotel.Jim ********
@Rob *******
Spot on...Reply to
Jim ********
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Durrant ********
The golden rule here is what money you put in be prepared to lose it. Obviously you never read the fine print.
Andrew *****
Wouldn’t have wasted my time posting on here that’s for sure
Mark ********
You need a lawyer....ignore the armchair lawyers who mostly haven't an actual clue what they're talking about
Mark ******
I've "invested/loaned" money many times over the years in Thailand to Thais for life issues or a business venture. From 5k to 150K, knowing there was a chance I would get nothing back. Fortunately, I have gotten about 85% back, being selective on who I loaned it to. If I wanted a 100% guarantee I would get it back, or earn some equivalent benefit, I would have had contracts/liens/assets of theirs on the line, or not loaned money at all. Without all that in place, anything else is a gift even if the expectation is it will be paid back, maybe even a profit made. At this point try to see if you can recover anything (50% would be a win) with the least effort as possible would be my advice.
Paul *******
A venture in the US? Some cryptocurrency scam perhaps? Any talk of investing abroad by a Thai is bound to be a scam.
Anyway, thanks for providing this information. It's been quite informative.
Anyway, thanks for providing this information. It's been quite informative.
Paul *******
@Mark *****
None of those things were "business ventures" they probably just used you to clear gambling debts or something like that. That's the reality.Mark ******
@Paul ******
A couple were real businesses, 50% cost of a new pharmacy location (expanding her business), a backhoe business (paid part of the lease for new equipment), and a venture in the US, but sure, some were to get out of a bad loan deal and a family member who got in trouble. Got most back and helped some folks, so all good.Reply to
Mark ******
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Michael *******
Good honest powerful lawyers in thailand can move mountains. But the folks are right with the little info provided you might be at a loss.
David *******
Kiss that goodbye and move on with life
Darren ******
6 figures so 100-999.000 baht
U could be years in a fight over it and the cost of a lawyer...
999k maybe worth it.
100k walk away...
As someone said above plan some kind of revenge but make sure u never see this man again, if u do that and he loses face Ur in a bigger mess then u are now.
U could be years in a fight over it and the cost of a lawyer...
999k maybe worth it.
100k walk away...
As someone said above plan some kind of revenge but make sure u never see this man again, if u do that and he loses face Ur in a bigger mess then u are now.
Paul *******
@Darren *****
no, there isn't. Essentially the same meaning. You've simply interpreted things incorrectly.Paul *******
@Darren *****
so you've just admitted that the Thai man will be hounded by his fellow Thais. Kind of proves my point about him getting disowned by the village. You just stated what I did, in different words.Darren ******
@Paul ******
disown him for the action is what u said.. no they won't This will house him for cash and out cast him for giving them nothing.
Big difference in reason for disowning not difference in words.
Reply to
Darren ******
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Paul *******
@Darren *****
oh I know Thailand but now you've proven you don't. Thais will generally be on the side of whichever party they think is in the right. Doesn't necessarily mean it will be a fellow Thai.Paul *******
@Darren *****
then the Thai man gets even more embarrassed as the entire village will rightfully disown him, but that's his problem then.Darren ******
@Paul ******
u obv have no idea of Thailand.They will hound him for money or disown him cos he keeps the money.
And that will in turn make him lose face.
U really believe the Thai villagers or friends will be on the farang side 😂😂
Reply to
Darren ******
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Paul *******
@Darren *****
What's the definition of "losing face" in your opinion in this case? This guy getting embarrassed?Darren ******
@Paul ******
telling the village the Thai man ripped u off = possibly a bullet in the back of the head , after all he's got enough money to pay for it .Reply to
Darren ******
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Edgar ************
Deal with it the same way you would back home... Send very big, dangerous, violent, criminal men to his house to recover the funds. No justice system will help you with this unless you have a formal written contract.
Paul *******
@Ned *******
Are you sure that's the way it would be done "back home"? I don't think so...in western countries making threats like that could backfire spectacularly.Edgar ************
@Paul ******
Violence, pain and fear are the single strongest motivators known to human psychology. These strategies work globally and are not restricted to any region. It's primitive and it works.Reply to
Edgar ************
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Paul ********
Well, the first hurdle is to find an honest lawyer 🕶
Thomas *******
Walk away
Henrik **************
You won't get a single satang back 🤣
Kim *********
@Henrik *************
you think that's funny?Marc ********
@Kim ********
Yes it's hilariousHenrik **************
@Kim ********
and I'm not alone thinking so neither 😅 got a problem with that? Up to you, couldn't care less 😊Kim *********
@Henrik *************
I don't care at all what you care about just think your lack emphati but that is your problemReply to
Kim *********
Reply
Henrik **************
@Kim ********
Yes! Only a fool would ever do that type of investment so yes, it is indeed funny. 👏🏼Reply to
Henrik **************
Reply
Mike ******
Find the local mafia ..sadly 😈
Aaron ******
I have a saying
Never waste good chasing bad
Be that money or times.
By all means consult a lawyer. But don’t spend a load of money if you have little chance of recovering it.
And your chance to recover depends on many things.
I personally would not expect my money back based on what little you shared.
Never waste good chasing bad
Be that money or times.
By all means consult a lawyer. But don’t spend a load of money if you have little chance of recovering it.
And your chance to recover depends on many things.
I personally would not expect my money back based on what little you shared.
Adam *******
***************************
Reidar **********
A voluntary investment without a formal contract is non- recoverable. Even with a solid contractual agreement there are several reasons and circumstances that can render an investment null and void. And depending on your visa status, you may or may not be allowed to do business in Thailand.
Paul *******
@Marc *******
thats true. Also, like I mentioned, these regulatory changes are relatively recent and designed mainly to make it legal for a foreign investor to get everything in order before they begin their day to day activities. By that time, a work permit will be required of any foreign employees.Marc ********
@Michael ******
Anybody is allowed to invest in a business. Regardless of the visa.But not allowed to do any kind of work there.
Michael ********
@Michael ******
Marc is totally correctMarc ********
@Michael ******
Now I don't understand what you trying to tell me😆Reply to
Marc ********
Reply
Marc ********
@Michael ******
What is there not to understand?You are free to invest in a business. Bar, restaurant, hotel whatever...
But you CANNOT do any work there unless with a work permit.
Paul *******
@Marc *******
There ARE limited activities a foreign national can perform without a work permit for a business activity that is based in Thailand, including signing contracts, holding meetings etc. Beyond that, a work permit is required. The law was amended a few years ago. Previously, going back 10 or 20 years, you would have been right, but nowadays there is a little more "wiggle room" permitted.Marc ********
@Paul ******
Ok even more is allowed than I expected. Reidar said he may not be allowed to do any business with the "wrong" visa.My point is Thai government will certainly not stop tourists from investing in Thailand😊
Reply to
Marc ********
Reply
Anna ********
I has the same problem investment with Thai.. the guy with his wife just want money and Money.. should invest and have lawyer no lawyer money will gone
Jheck *********
Same with my husband he invested latge some of money in thailand in business and house for his ex partner before now he cant get it back kiss goodbye.
James ***********
Amazing
Michael ********
Go speak to village head first the poo yai ban
Rc *******
There are ways but be prepared to spend more money getting your invested money back.
That again provided you have all the related and valid documents and also valid proof of any monetary transactions.
That again provided you have all the related and valid documents and also valid proof of any monetary transactions.
Kev **********
Honestly.. unbelievable
Brian ***********
Revenge is probably your only recourse.
Good luck.
Good luck.
Steve ********
What sum of money are you talking about?
Paul *******
@Steve *******
Benjamin Hart is amazing..I love his videos.John ******
ORIGINAL POSTER@Steve *******
Well into 6 figures Thai Baht.Steve ********
@John *****
You're looking at minimum 20,000 baht for legal representation, and that's the starting figure. Perhaps talk to Benjamin Hart at Integrity Legal in the first instance. He's an American with a law firm in Bangkok. His advice might be to cut your losses and write it off. Not much point in throwing good money after bad.Paul *******
@John *****
Legally, you're supposed to invest at least 980,000 Baht, in order to meet the minimum 2 million Baht capitalization with a 49% foreigner stake, while he covers 1.02 million. If less than 2 million Baht was invested in this "venture", you've not met the criteria for a legal business operation that is part owned by a foreigner, possibly making it much more difficult to retrieve the funds.Michael ********
@John *****
go see the village head first that is how it works herePaul *******
@Michael *******
Good idea, if you're living in an actual village somewhere in Isarn. I don't think there are "village chiefs" in the cities. In this case, he's talking about a village, so a chief probably does exist.Michael ********
@Paul ******
yes he said it was a village best talk poo yai ban first before getting lawyers involved people get shot for lot less amounts tham that hereReply to
Michael ********
Reply
Kees **********
I think you can kiss you're money goodbye but go find a lawyer if it's a real large amount.
Ekkehard *******
@Kees *********
"your money" is correct hereKees **********
@Ekkehard ******
thank you for the lesson.Reply to
Kees **********
Reply
Marc ********
Troll post anyway... but the solution is very easy. Money gone. Say good bye. You gave him voluntarely.
Even in our western countries it would be nearly impossible to get the money back.
Even in our western countries it would be nearly impossible to get the money back.
Rollo ************************
Waste some more money and hire the Thai lawyer that recently made the news charging 8k for a debt a little over 2k 💸 😂 !! And I’m confident that after you win your court case and the judge makes a ruling because you brought a lawyer, not a thing will be done to enforce the ruling because it’s lawless Thailand so in the end, you should do a
@s *************
ll so eloquently put it and…. (read his post)— 😝Peter *********
@Rollo ***********************
well said 💯Reply to
Peter *********
Reply
Bonnie *******
Same old story
Trevor ********
You invested a large sum of money into a Thai business,yet you don’t know nothing about business and don’t speak Thai,you ain’t too bright matey!
Brandon ************
The best way to end up with 1 million dollars in Thailand is to bring 10 million. The odds of seeing any of your money again is very very low.
Peter *********
Bye bye your money 💰 lol 😆
George *******
@Peter ********
stupid commentPeter *********
@George ******
you must be a ham shank.also lol 😆Peter *********
@George ******
how ?Reply to
Peter *********
Reply
Paul *******
@Charles ***************
so you're saying Asian communities abroad never encounter problems? I know of plenty of Thais living abroad who've lost money, mostly to fellow Thais by believing in their "get rich quick" schemes. Most farang in Thailand and other Asian countries do alright. Some are naive, but there's no way they're less successful than the Asian communities in the west you speak of. Farang may however be limited by the local laws, in terms of what they can do. Asians in the west either possess local citizenship or are working towards it. Few farang living here are eligible for Thai citizenship, so that further limits what we can do.Charles ****************
No, that's not what I'm saying, but good speech nonetheless.
Reply to
Charles ****************
Reply
Andrew *********
I know of 3 people who have successfully received their invested money back from Thai businesses after seeking legal assistance, all 3 completely different situations, so there is hope. And yes i also know people who have lost their money as well.
Charles ****************
@Peter ********
Why is that funny?It's interesting that Asian communities abroad are so successful yet Farang communities are so dysfunctional. You're living proof of that.
John ******
ORIGINAL POSTER@Charles ***************
Thank you for your empathy Charles. I'm expecting a lot of British style ribbing for a post like this so it's ok. 😀Charles ****************
@John *****
Yank here.Reply to
Charles ****************
Reply
Peter *********
@Charles ***************
he will never see his money again that's a true fact I am afraidAndrew *********
@Peter ********
where are you sourcing your facts from??Aaron ******
@Andrew ********
I’m not Peter but common sense. Even in the US or UK a story like this (what we know at least) has very little chance of recovering money.
Why would I expect more chance in Thailand where we have all seen versions of this time after time.
To have any chance of recovery depends on exactly how the deal (you’d be surprised how many around the world have nothing on paper) was structured.
Then winning a civil lawsuit.
Then actually enforcing a collection.
Even in the best of situations that’s unlikely. And like I said I am talking even in the US or UK.
Investing in a business is high risk even when structured well. And no you can’t just ask for money back and get it.
A business partner may agree to buy you out, pay you back, and etc. but unless it is on paper they don’t have to.
Jeff *********
@Aaron *****
and even if it’s on paper they still don’t have to, sadly. My son in Arizona went through a similar situation and his wife was in business banking, they thought they had everything covered, they didn’t, in the end it was easier to walk away. Some people are liars and have no conscience!Andrew *********
@Aaron *****
I told the 3 people I know who successfully received their invested money back that they wouldn't, only to be proven wrong, i agree chances are less than likely, i am just saying there is hope.Aaron ******
@Andrew ********
seem far too many people waste loads more chasing it. By all means do due diligence but that is normally best done up front. Once you have to get lawyers involved in recovery it’s math vs your ego. And often the only winners are the lawyers.
Once the money is “invested” it is what it is. Either you will see a return or you kiss it good bye.
Peter *********
@Andrew ********
common senseReply to
Peter *********
Reply
Pete **********
Looking forward to reading the answers to this post!
Michael ******
Talk to a lawyer
Rich *****
@Michael *****
, there’s thousands in this group so that shouldn’t be a problem!Reply to
Rich *****
Reply
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