Thread: Bangkok Post and Pattaya's Bernie Madoff

Any one know ths guy, Lance Frederick Shaw ?

The Bangkok Post just ran a two page spread "exposing" this chap. With many expat conmen based in Thailand why is this one person getting major publicity ? Has someone on the paper lost money ?

Bangkok Post : Gold fever sinks a posse of investors

"One born every minute." ack. P.T. Barnum

I had a mate, who recently passed away who lost 100,000.00 pounds too a similar rip-off merchant who also owned an English Pub in Sukhumvit Soi 3.

At one stage he was told his investment had grown to over 1 million pounds in value and he showed me the very professional looking balance sheets with the numbers on it.

At the end of the day the rip-off merchant disappeared along with his bar and my mate never saw a cent of this money and his words were...........Your never too old to learn a lesson!

People who invest in these schemes are driven mainly by the thought of high returns for little effort.

A litttle more care and investigation would probably have made them realise that what seems too good to be true usually is.

They would have been far better buying gold themselves when it was $350 an ounce and selling it now at around $960 an ounce. Those who have bought and sold gold wisely have done very well indeed.

Originally Posted by Begbie

Any one know ths guy, Lance Frederick Shaw ?

The Bangkok Post just ran a two page spread "exposing" this chap. With many expat conmen based in Thailand why is this one person getting major publicity ? Has someone on the paper lost money ?

Bangkok Post : Gold fever sinks a posse of investors

Couldn't deny that this gent might be a charlatan and scallywag, but your reference and questioning of the overt attention that the Post calls clarion towards this particular one....first rule of thumb: always secure suspiscions and cynicism when considering the BKK Post and agendic journals akin.

If someone promises to make you rich whilst you do nothing ---you must kmow its too good to be true and --run a mile

^ Especially in Thailand... In Pattaya, ha, you should know it's a scam!!!

One man who sold his home and invested the money with Mr Shaw is said to have become a suicidal alcoholic.

So he fits in well in Pataya then?

Pattaya is know for a lot of things, financial prudence and probity aren't on that list.

Cheers

Oh, so I shouldn't have sent that guy I met the other month loads of money? But he seemed so convincing...

Originally Posted by Muadib

^ Especially in Thailand... In Pattaya, ha, you should know it's a scam!!!

Flim-Flams don't recognize borders. Same same everywhere in all degrees.

^ Yes, but I would say that Thailand is right behind Nigeria as the epicenter of scammers in the known universe... And within that microcosm, Pattaya is close second behind Bangkok...

Originally Posted by Loy Toy

lost 100,000.00 pounds too a similar rip-off merchant who also owned an English Pub in Sukhumvit Soi 3.

At one stage he was told his investment had grown to over 1 million pounds in value and he showed me the very professional looking balance sheets with the numbers on it.

At the end of the day the rip-off merchant disappeared along with his bar

Sounds like John Morgan. What happened to him?

Originally Posted by Muadib

^ Yes, but I would say that Thailand is right behind Nigeria as the epicenter of scammers in the known universe... And within that microcosm, Pattaya is close second behind Bangkok...

You don't get out much, do ya? Do some real observations after you come out of that hypnotic slumber of yours.

The rules of the con trick

1) If something looks too good to be true, it probably is.
2) Find someone who wants something for nothing and then give then nothing for
something.
3) You can't cheat an honest man.

Originally Posted by mackayae

Sounds like John Morgan. What happened to him?

That's the bloke and I have no idea mate!

Investment scheme lands Aussie in jail
RON CORBEN
September 20, 2009

A 64-year-old Australian businessman allegedly involved in dubious gold investment schemes in Thailand is being held in a Thai prison after his arrest last week.

Lance Frederick Shaw was detained at Suvarnabhumi airport on Tuesday on an arrest warrant over allegations of defrauding hundreds of thousands of dollars in an online gold investment scam.

Police sources told AAP on Sunday Shaw was being held at a prison near the resort town of Pattaya, 120 kilometres from Bangkok where he had been operating the online gold investment company known as Hiperfinance (High Performance Finance).

Thai police had refused to grant bail at a brief court hearing last week "due to the seriousness and number of charges against Shaw", reports said.

Up to six cases, involving up to 10 million baht ($A370,000), have been filed against Shaw who had allegedly targeted Australian and British investors in particular.

An investigative report conducted by the Bangkok Post in August claimed investors had lost amounts of between $A11,500 and $A290,000 in the online investment company.

The reports said investors had lost homes, savings, wedding funds and retirement savings.

The company had advertised in the local newspaper luring investors with promises of returns of up to 20 per cent a month in property and gold investments.

Shaw has denied any wrongdoing saying he has also been a victim having lost $US20 million ($A23 million). He has said he merely promoted the scheme and was not a principal behind it.

In 1986 Shaw was named by Australian media as the bankrupt proprietor of a petrol supply company known as the 200 Club.

The Australian Securities and Investments Commission (ASIC) in a 2000 press release listed Shaw as subject to an ASIC injunction for affiliation with Singapore Liason Priority, which allegedly ran a fraudulent and Ponzi-style property scheme.

Australian consular officials are expected to request access to Shaw later this week.

No date has been set for his next court appearance.

news.smh.com.au

Originally Posted by Mid

Lance Frederick Shaw was detained at Suvarnabhumi airport on Tuesday

Not even got the brains to escape overland.

see also : https://teakdoor.com/thailand-and-asi...ustralian.html (Thai police arrest Australian)

Lance Shaw Victims Relentlessly Pursue Justice
Wittaya Yensabai
17.09.2010


Lance Shaw is on the run from Thai authorities.

Pattaya Times has learned that the warrant for the arrest and capture of Lance Frederick Shaw has been extended by the Pattaya Provincial Court for an additional 10 years, which is exceptional and rarely done except in the most serious of crimes in Thailand. Pressure from the victims has led to the extension.

Australian businessman Lance Shaw, 65-years-old, had been arrested over allegations of defrauding millions of US dollars in an online gold investment scam from 2006 to 2008.

His victims of the gold scam who lost millions of US dollars are still looking for justice. They accused Pattaya fugitive Lance Frederick Shaw of masterminding the scam and cheating them out of their savings. Shaw has eluded rearrest for a year since being bailed out of jail last September and failing to appear for his court dates in Pattaya.

Shaw’s company had advertised in a local tabloid luring investors with promises of returns of up to 20 per cent a month in property and gold investments.

Pattaya resident Phillip Shields along with dozens of other complainants living in Pattaya say they were swindled out of millions of dollars in an internet-based gold scheme they say they learned about on the internet and in ads in the Pattaya Mail tabloid newspaper.

Police sources said Shaw had been operating the online gold investment company known as Hiperfinance (High Performance Finance) from his home in Pattaya.

Shields recently sent a statement to the Pattaya Times and other media outlets which reads, "Before I start will you put in your computer the name Lance Frederick Shaw and read all. This man is a wanted man. He got out of prison through the corrupt system in Thailand he has been on TV worldwide and was in the Bangkok Post, Pattaya Times, Australian news and other news worldwide and a TV documentary about him in England [for his crimes]."

Shields continues, "He has swindled millions of dollars from ordinary working class people and professional people and it took a lot of time and money to bring this man to justice which we had to do with no help from the police. There was a warrant out for him which stayed in the police station Soi 9 for two years because he was paying the police and our lawyers which he says himself it is well documented on the e mails he was sending to his victims,” Shields alleges.

On September 15, 2009, lawyers from PAPPA Co., Ltd. who are helping the victims pro bono went to Nong Pali Jail and were told Lance Frederick Shaw got bail of one million baht.

“Now after paying himself out and not turning up for the court case he is on the run hiding out in Thailand somewhere paying the police and officials to stay out of prison,” accuses Shields.

According to the Pattaya Municipal Court Judge presiding over this case, Shaw was bailed out on October 15, 2009. He missed his court appointment one week later on October 22. The court issued an arrest warrant on October 26, 2009 The court has reported the revocation of Shaw’s bail and reported his fugitive status to the Chonburi Immigration and he will not be able to leave the country by conventional means.

Thai police had originally refused to grant bail at the first, brief court hearing "due to the seriousness and number of charges against Shaw", reports said.

“However, he may have left Thailand by now,” says an officer close to the case.

“And guess what? He is not on the wanted list where you have 100 wanted petty criminals’ photos on the wall in new Transnational Crime Center in Pattaya,” Shields stated.

Pattaya Times first broke this case in the Pattaya media. Lance Shaw was released on bail for his crimes and failed to appear in court and has been a fugitive for the last 19 months.

Another investigative report conducted by the Bangkok Post in August, 2009 claimed investors had lost amounts of between $11,500 and $290,000 in the online investment company.

The reports said investors had lost homes, savings, wedding funds and retirement savings. Phillip Shields and Graham Mitchell were only a few of the victims.

“We went to the Pattaya Police Station to file criminal complaints against Lance Shaw while he was in Pattaya almost two years ago after being cheated out of considerable sums, about two million dollars in all,” said local school teacher Graham Mitchell who lost a considerable amount of money in the internet-based gold investment scheme he saw advertised in the Pattaya Mail.

Pattaya Times editors will interview the head of the Transnational Crime Data Center to find out if Lance Shaw is on their wanted list. If he is not Pattaya Times will report the reasons why Lance Shaw is not on the Center’s list.

Before fleeing, Shaw denied any wrongdoing claiming he was also a victim, having lost US $20 million. He has said he merely promoted the scheme and was not a principal behind it.

However, in 1986 Shaw was named by Australian media as the bankrupt proprietor of a petrol supply company known as the 200 Club.

Also in 2000 the Australian Securities and Investments Commission (ASIC) listed Shaw as subject to an ASIC injunction for affiliation with Singapore Liason Priority, which allegedly ran a fraudulent and Ponzi-style property scheme.

pattaya-times.com

Another one slips through the net of the incompetent and corrupt Thai Police force.

Any bets he is in Cambodia? Never have to leave on visa runs and under the radar of Thai and Australian authorities especially as he has got a bit of money.