Brit, 70, says Thai ‘scammers’ have not handed over title deeds despite paying £346,000

A British businessman says he was conned into handing over hundreds of thousands of pounds for an apartment in Thailand but was never given the title deeds, meaning he does not legally own his dream retirement home. 

David Edward, 70, said he was cold-called by an estate agent in 2016 who offered to sell him the apartment unit in the Chaweng Noi district of the idyllic island of Koh Samui.

The businessman said he paid the agent a deposit of five million baht (£115,300) and the rest of the money was to be paid upon completion of the sale – a total of 15 million Baht (£346,000).

However, David said the agency has still failed to transfer the title deeds or legal documents meaning he has no ownership rights to the flat, and has been unable to get his money back.

David, who has two young children, said he may not relocate to the island now and has filed a complaint with the police and the Central Investigation Bureau in Bangkok. No arrests have yet been made.

David’s lawyer, Phattakorn Teepaboonrat, said that at least five other victims, mostly foreigners unfamiliar with Thai laws, had been allegedly scammed by the company

He said: ‘I’m concerned about my property and other people’s properties as well. 

‘I bought property in Thailand when I was in Saudi Arabia a long time ago and I’d like to retire in Thailand, but I have two young children now and I have to do what’s best for them.’

David claimed that the property agency misled him about the status of the apartment block project on the stunning island, which is a popular destination for tourists.

The company reportedly told him that the property was ready for transfer, but the father learned on April 19 that the complex did not actually have a building permit.

David claimed to have found evidence that the company had defrauded other clients, and had even sold or mortgaged plots without their consent.

David and Thai consumer representative Phattakorn Teepaboonrat went to the Thai Central Investigation Bureau on June 1 to lodge his formal complaint against the company. 

There are at least five other victims of the alleged scam, Mr Teepaboonrat claimed, most of whom are foreigners unfamiliar with Thai laws.

David has filed a complaint with the police and the Central Investigation Bureau in Bangkok but no arrests have yet been made

David and consumer representative Phattakorn Teepaboonrat went to the Thai Central Investigation Bureau on June 1, 2023 to lodge a complaint

He said they had been scammed by the company, with damages amounting to more than 100 million baht (£2.3 million).

The agency is said to have lured them with promises of tax exemptions before forging the title deeds.

Phattakorn said: ‘This company offered real estate projects for sale on its website, including certificates of ownership and project pictures, to establish trustworthiness. 

‘My client purchased two rooms for 15 million baht, and although he has already moved in, there has been no transfer of ownership.

‘Legally he does not own them so cannot ever rent them or sell them and could be removed at any point.’