BANGKOK: -- Up to 50 Swedish families and disabled have been cheated in a property scandal in Thailand. The investors were dreaming about owning a peace of paradise in Bang Phra, but according to the Swedish tabloid Expressen they lost millions of Swedish Kronor in deals with Thai Care, a company dominated by the Swedish citizen Mr. Curt Timhede.

The sale of three rooms apartments and villas started in 2006. Costumers liked what they saw on exhibitions and the Thai Care website. Swimming pool, rehabilitation center, tailor, security, everything was designed to suitable for families with children, people with handicaps, and elderly people.

The buyers felt secure with the Swedish speaking sales staff. And happily they made the needed payments up front, to get closer to their dreams.

According to Expressen, the money started flowing the very same year, when every signature from a buyer was followed up with a down payment from 100.000 kronor up to 1.000.000 million. The selling continued, and therefore the money kept flowing in 2007.

Expressen mentions a total of 30 million Swedish kronor.

The first apartment was promised ready in the middle of the 2006/ 2007 season. But one month after the other went by, and nothing happened. At that time, the buyers had no ideas about the financial disaster.

Curt Timhede, had, according to Expressen, previosly gone bankrupt three times in Sweden, therefore has a huge debt to the Swedish State (Kronofogeden). And he never told his costumers, that the money was gone down the drain, out of the project. Living in a village further down the cost, in the village of Bang Sare, he just kept silent.

To the Swedish tabloid he insists, that it’s not only the costumers who have been lured. He is innocent. Its other people, who destroyed the project.

Mr. Timhede claims, that he has been cheated by his Thai partners. Partners he had to involve, because it’s illegal for foreigners to own land in the Kingdom. The Swedish business man says that the problems are rooted in the cooperation with a mysteries Thai woman, whom he had known for several years.

Mr. Timhede, his to sons who are Swedish citizens like him self, and the Thai woman registred a company. And, again, according to the Swede, and the Thai woman’s husband faked Mr. Timhede´s signature. All of a sudden, the Thais were in total control.

If there still was even the slightest hope among the buyers to at least get some of there money back, it’s now gone for ever.

The official papers at the land department in Thailand, says very clearly that the ownership of the land is taken over by the bank, who did lend out the money at the beginning of the project.

-- ScandAsia.com 2008-04-26