Joe Cole Hua Hin property ploy cost us a fortune

[Super Joe]

As I explained above, the FBA is for Foreign companies, not Thai Limited Companies. Thai Limited companies can employ foreigners.
It's the same for shops, restaurants, bars etc.

SJ

[STEVE G]

As I explained above, the FBA is for Foreign companies, not Thai Limited Companies. Thai Limited companies can employ foreigners.
It's the same for shops, restaurants, bars etc.

SJ

Ah, I think I understand now, so is the foreign employee of a Thai company legally permitted to be incompetent or quasi-incompetent?

[Super Joe]

Ah, I think I understand now, so is the foreign employee of a Thai company legally permitted to be incompetent or quasi-incompetent?

Speaking from experience, and being in the business, I do not believe any of us are competent

SJ

[STEVE G]

I suppose the best we could hope for would be quasi-competent!

[huahinsimon]

Note that Mr. Cole did not actually put up 1p out of his pocket.

To attract buyers, Lersuang reps approached Cole, who is a shrewd property investor.

shrewed all right!!! put up his "reputation" Ha hah a


They spoke with Cole's property agent Ross Taylor, who brokered a deal by which the star would promote it allegedly in return for a penthouse apartment worth £250,000.

no penthouse joe!

And in an interview for the club's website, Cole, 27, told potential buyers: "I'm 100 per cent sure I've made the right decision." But for the 30 or so investors who followed Cole's advice, things have fallen apart.

XXX who invested £54,000,

A million pounds was put in by30 investors said the article. thats about an average of 33,300 pounds each punter. In the big scheme of things here and Phuket that aint much money. Look at the derelicts scattered about HH. Some people have lost 250,000L up. Ouch

How many people reading this thread care to tell us if you bought here or off the net and how much did you lose?

Joe could afford to refund the punters out of his own bulging pockets. if he had a conscience or is he just another Cockney binman.

I looked up Lersueang group and it looks like they are still in business, ie websites still up.

HHS

[London Boy]

And what do you mean by "Cockney Binman".
And I assume that you being a person of immaculate standing would have refused to accept a free penthouse. Please do not have a go at all people because of the actions of one

[heretostay]

one other major scam is north of the Airport , a condo named TOV, the main Thai shareholder has more cases against her than you a throw a stick at, if you seen the quality of the houses you would never look at the condo. I know many people who are trying to get the money out, nearly 3 yrs now and its still only 40% built.

As I believe it 's the police who check on work permits not immigration.

[loverboy44]

http://www.lersuang.com/group/profiles.asp

Looks more like a "Wanted" list of the police...LOL

[Super Joe]

HHS, time to move on, no ?

SJ

[Khundon1975]

Note that Mr. Cole did not actually put up 1p out of his pocket.

To attract buyers, Lersuang reps approached Cole, who is a shrewd property investor.

shrewed all right!!! put up his "reputation" Ha hah a


They spoke with Cole's property agent Ross Taylor, who brokered a deal by which the star would promote it allegedly in return for a penthouse apartment worth £250,000.

no penthouse joe!

And in an interview for the club's website, Cole, 27, told potential buyers: "I'm 100 per cent sure I've made the right decision." But for the 30 or so investors who followed Cole's advice, things have fallen apart.

XXX who invested £54,000,

A million pounds was put in by30 investors said the article. thats about an average of 33,300 pounds each punter. In the big scheme of things here and Phuket that aint much money. Look at the derelicts scattered about HH. Some people have lost 250,000L up. Ouch

How many people reading this thread care to tell us if you bought here or off the net and how much did you lose?

Joe could afford to refund the punters out of his own bulging pockets. if he had a conscience or is he just another Cockney binman.

I looked up Lersueang group and it looks like they are still in business, ie websites still up.

HHS

huahinsimon

Joe Cole may have been silly to put his time into advertising this particular development but I cannot see why he should repay the deposits out of his own pocket.

He gave his time in exchange for an apartment and did not receive any of the money that people had paid to the developers.
One could argue that he has lost out as well, in that he gave his time, in exchange for an apartment, that he will not now get.

As to Cole being a "shrewd investor" the promise of getting a 250k property (if it had been built) for a couple of days work, is shrewed in my book.

Anyone buying property anywhere in the World, should do their own due diligence and satisfy themselves that what they are buying into, is above board and will be built on time and to the agreed price.

Relying on celebrity endorsement rather than carrying out their own investigations, is just being lazy and naive in the extreme.

Lersuang is responsible for the losses of these purchasers, not Cole.
I hope they get their money back but I'm not holding my breath.

Thailand should bring in a law to ensure that all deposits go into an Escrow account, as they do in other countries. Until then, buyer beware.

[splitlid]

How many people reading this thread care to tell us if you bought here or off the net and how much did you lose?

HHS

you go first!

[sweet pea]

ooops new york times this is totally wrong....they dont own any of them projects! Maybe its not the same company! All of Lersuang projects are in Phuket and even the hua hin country club is not Lersuang's, they are just shareholders.

The mirror has got things all wrong probably because they didnt even contact Lersuang in the first place..... there was an article in the Phuket gazette on this on the 8th of may titled:[b]

Phuket property developer under fire in one-sided news report[/b]

the article was as follows:

[b]PHUKET: A leading UK news tabloid, the Daily Mirror, reported earlier this week that Chelsea football star Joe Cole invested in the Hua Hin Country Club and is now demanding his money back as the project has remained an empty field for the past two years. Phuket has figured into the headline grabbing news as Cole has alleged that local Phuket development firm Lersuang is at fault, and the Mirror claims that calls to the group’s offices were not returned.

Lersuang is the developer of the stalled Turtle Cove, Tamarind Hills, Infinity Heights and Lersuang Village projects in Phuket. There has been much local speculation in the market about the completion of the existing properties, though the company has continued to operate its offices here on the island.

Press like this certainly is not a positive for the Phuket market and there have historically been few project defaults in Phuket in the past. This looks to be a developing story as the UK news has given only Joe Cole's side of the story. There needs to be a balance in the sources for the story and certainly a statement from the Phuket group would be helpful.

NOTE: The Phuket Gazette had no difficulty in reaching management at Lersuang's Phuket office for comment yesterday. The Gazette is now preparing a special report for publication early next week. [/b]

My friend bought on Hua hin country club although he didnt buy through lersuang..... will be interesting to read the phuket gazettes special report..

[loverboy44]

All of Lersuang projects are in Phuket and even the hua hin country club is not Lersuang's, they are just shareholders.



Oooops as you say....and why do they advertise this project on their own webside as one of their new developments?

[sweet pea]

i dont know but, why wouldnt any shareholder include their investment, they prob wanted it to do well..

[loverboy44]

If you don't know why you say so?
The way this kind of developers work is highly criminal. They don't have any capital to invest so they sell off plan and if they can sell they can build if they don't sell enough the people who bought already lose their money.
You think this is ok?