Serious phuket property investment turns out to be a scam!

[sweetiepie]

Castlewood Group's key project was a 170-room hotel resort called Dream in the city of Patong, on the island of Phuket, Thailand.

KNN these stoopid tam chia ter nao sinkie will never learn their lesson no matter what my uncle say KNN now they can really dream about the city of patong KNN my uncle shall reiterate that no investment in this world that is not a scam except inheritance KNN

 

[Hypocrite-The]

If a "celebrity" endorses an investment I run a mile.

Credible investments never seek celebrity endorsement. They let the facts speak for themselves and due diligence determines the risk profile.

I did not realise there were so many dumb sinkies on the island. I thought the PAP provided an excellent education system that produced well rounded and sensible citizens.

Being educated is different from being intelligent and is different from being street smart. Singkies are the worst bcos they think the whole world is like singkie land very safe. N yet with regards to consumer protection. Singkieland is worse than 3rd world cuntries

 

[KuanTi01]

Must be the same idiots who sold "profitable plots". Smsll plots of swamp in uk that an never be developed were sold to investors in asia. I wonder what happened to that venture!

The angmoh directors finally lost the plot and were sentenced accordingly. The Sinkie investors all lost their money; highly unprofitable!

 

[laksaboy]

KNN these stoopid tam chia ter nao sinkie will never learn their lesson no matter what my uncle say KNN now they can really dream about the city of patong KNN my uncle shall reiterate that no investment in this world that is not a scam except inheritance KNN

If you really want to invest in a touristy Thai city, invest in Pattaya.

Phuket is neither here nor there., very seasonal. Pattaya has a steady flow of tourists and Thais from Bangkok who visit on weekends.

 

[songsongjurong]

 

[songsongjurong]

MAS Watchlist since Nov 2015

For all the bell and whistles of the SG-Secure, why not include these alerts to warn gullible sinkies at large ?

https://www.mas.gov.sg/investor-alert-list?page=1&q=Castlewood Group Pte Ltd (CGPL)

 

[krafty]

turn out spore's castlewood cock up and not the phuket side.

 

[Leongsam]

turn out spore's castlewood cock up and not the phuket side.

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Castlewood group was used as a vehicle to lure investors into funding an overseas investment.

The Singapore company then did some clever accounting to show that they have made substantial losses and pulled the plug.

They then take their profits in Thailand.

Rinse and repeat.

 

[krafty]

Castlewood group was used as a vehicle to lure investors into funding an overseas investment.

The Singapore company then did some clever accounting to show that they have made substantial losses and pulled the plug.

They then take their profits in Thailand.

Rinse and repeat.

you mean the fund that castlewood scam out of the investors were used to build the resort afterall?

 

[Leongsam]

you mean the fund that castlewood scam out of the investors were used to build the resort afterall?

Possibly but I wouldn't be surprised if they were simply diverted to some foreign holding company. How much actually went in to building the resort is anybody's guess.

This sort of rip off is as old as the hills.

Suppose I start a website which I am going to run from abroad. I seek investors promising a return of 10% or more and create a $2 web development company in sinkieland to collect your money.

Once the money leaves Singapore's shores I can do whatever I want with it. My $2 sinkie company will never reflect how much I am actually making. It most certainly won't be reporting a profit.

 

[krafty]

Possibly but I wouldn't be surprised if they were simply diverted to some foreign holding company. How much actually went in to building the resort is anybody's guess.

This sort of rip off is as old as the hills.

Suppose I start a website which I am going to run from abroad. I seek investors promising a return of 10% or more and create a $2 web development company in sinkieland to collect your money.

Once the money leaves Singapore's shores I can do whatever I want with it. My $2 sinkie company will never reflect how much I am actually making. It most certainly won't be reporting a profit.

my friend told me castlewood was on the radio two years ago, however, it is on mas alert list and they still managed to milk 90 mil out of investors.

 

[chiobu]

Buy hdb .the best investments!!!!!!only for 99years