Tourism News

Tourism News Phuketwan Tourism News
facebook recommendations


Sign up now for our News Alert emails and the latest breaking news plus new features.

Click to subscribe

Existing subscribers can unsubscribe here


Finns mourn their compatriots on Phuket one year after the tsunami

'Hundreds Scammed' in Phuket Fraud, Say Reports

Saturday, October 17, 2009
Breaking News

POLICE in Finland are investigating allegations that two men have defrauded investors of millions of euro in a scheme involving a Phuket nightclub and palm oil.

The financial crimes unit in the Finnish city of Tampere is currently investigating the case as one of ''aggravated fraud,'' newspaper reports say.

In March 2008, a Tampere man invested 200,000 euros to help bankroll a night club in Phuket. However the funds were allegedly paid directly into the personal accounts of the subsidiary's director, the newspapers in Finland report.

According to another media outlet, the two men collected around five million euros in investments for a night club and palm oil production in Thailand, promising 900 percent returns.

Between 200 and 250 investors were involved, the reports say. First accounts of the alleged ''sting'' were carried in Thursday's edition of the Aamulehti, a daily newspaper based in Tampere, Finland's third largest city.

The reports name two companies, but no individuals, and specify the Phuket nightclub as ''Babylon.'' At this stage Phuketwan is not aware of any connection with the Babylon Beach Club, a popular island restaurant at Bang Tao.

A report in the international edition of Helsingin Sanomat, Finland's largest circulation daily, says: ''The promises were wild. From the palm oil business the firm's calculations promised profit per hectare that was up to ten times higher than the trade average.

''For investments into the Babylon night club, the company promised 45-60 percent returns already for the first year.''

The report says ''Gullible investors were promised vast profits in no time'' and adds that police are investigating the Finnish-led investment firm on ''two separate fronts.''

A link on the website of one of the companies named in the report promotes the state of property on Phuket with a newspaper article ''TOURISM DRIVES BOOM TIME By Somluck Srimalee, The Nation Published on May 2, 2008'' cut and pasted under the company's letterhead.

The article names reputable Phuket brands, including Trisara, Surin Hill Development, West Sands, the Bay Cliff Company and Centara Karon. As informed investors are aware, the outlook and performance of both tourism and property on the island has varied markedly since May 2008.

Phuket and Thailand are popular destinations for Finns with almost 5000 Finns arriving at Bangkok's Suvarnabhumi airport this September alone, an increase of 16 percent over the previous year.

The attraction of the warm weather along the Andaman coast for Europe's cold-climate Nordic nations is not new. More than 180 Finns were among the 5400 victims of the 2004 tsunami in Thailand.
Latest Phuket News

Phuket Art Gallery Two in Work Permit Arrests
Latest News Two expat Phuket art gallery employees were arrested in a police check for work permits and later fined for not having their permits with them.
Phuket Art Gallery Two in Work Permit Arrests

MediaWATCH: Phuket Not World's Top Island. Why?
Phuket News Digest Bali wins Top Island, World's Friendliest City; THAI flies Phuket to Hong Kong; Airport maybe stripped of xray machines; quakes alarm; Phuket's warship economy; Accor on top.
MediaWATCH: Phuket Not World's Top Island. Why?

Governor Seeks Solution to Rawai Road Stayput
Latest Update Efforts were being made today to finally resolve the traffic hazard where the four lane road between Chalong Circle and Rawai suddenly becomes three lanes.
Governor Seeks Solution to Rawai Road Stayput

Phuket Push to Crack Down on 'Working Tourists'
Latest Tourists who come to Phuket then work will be among those being pursued under a crackdown from the end of the month, Phuket's Governor announces.
Phuket Push to Crack Down on 'Working Tourists'

Phuket's Amari Remake Comes with $44m Growth
Latest After 25 years, Amari Coral Beach Phuket is being reshaped as part of the brand's 44 million dollar Asia Pacific expansion. Another 80 rooms are being added, too.
Phuket's Amari Remake Comes with $44m Growth

Four Fresh Tiger Flights Give Krabi an Air Lift
Latest Krabi is set for takeoff this high season with four new flights coming its way from Singapore, which is a whole lot closer than Scandinavia. And that's a significant change.
Four Fresh Tiger Flights Give Krabi an Air Lift

Phuket's Jet-Skis: Insurance Deal Ends Crisis
Photo Album The signing of a deal today means all Phuket jet skis will require insurance from now on, and the responsibility lies with the operators to end the allegations of scams.
Phuket's Jet-Skis: Insurance Deal Ends Crisis

Phuket Taj Drops Pier, Offers 50m Baht 'Forfeit'
Photo Album The governor's new environmental approvals committee checks out the Taj Exotica and the Novotel Kamala sites, with Phuketwan for company.
Phuket Taj Drops Pier, Offers 50m Baht 'Forfeit'

New Phuket Police HQ Just Needs More Police
Photo Album Phuket has a new police headquarters but remains short of police. Just 1160 officers maintain law and order on an island with one million inhabitants during the high season.
New Phuket Police HQ Just Needs More Police


Comments have been disabled for this article.


What time of the year is it the Jellyfish start invading?
This petty rip-off (too good to be true...) is but a drop.
What's made INTERNATIoNAL headlines in last year...

Rude Immigration Simon Burrowes episode, Aust. Woman Beermat fiasco, Jet Ski ...tuk -tuk, murder for hire.
3 or 4 more foreigner forums all complaining about
DAAD ( UDD?), PAD Coups, capriciously enforced, unpredictable visa rules, foreign business act.

High-noon rape/murder , air crash, how many THOUSANDS dead in south ? 10 or so mystery deaths of tourists over last summer, how many drownings 30 ?
And this is just Phuket.

Every place has its time, sometimes with careful, considered planning it can hold on to it ...

Posted by Thaierd on October 17, 2009 12:15

Monday June 24, 2024
Horizon Karon Beach Resort & Spa


Facebook Twitter