Santi Bhirombakadi

Thailand Investors Scam- Don't trust [email protected]

I am a small business owner in the UK and was recently looking for investors. I was contacted by someone posing who said he was Santi Bhirmobakadi and was interested in investing. I did some research around who Santi Bhrimobakadi was and it seemed a genuine enough proposal. What’s really annoying is that had I just added the word SCAM infront of his name I would have found this thread.

We exchanged emails over 3 months and even spoke on the phone. He seemed to know all about Santi and his investment moves as I asked him a number of drilling questions as to why he wanted to invest. All his emails were very proffesionally written. For example:

“As you already know I also want the right of first refusal should there be need for more investors or funds in future during the contract. Again, we can leave a window open in the contract where after a few years or at the end of contract we may discuss the option of diluting the debt finance investment into full equity on mutual terms to be agreed by both parties. We have since established our willingness and capacity to go the long term but choose the preference of a gradual approach towards this goal. Funds transfer shall be in tranches with the first being £200,000 GBP and we can work out formula for disbursement of the remainder after our first board meeting to complete to the £350,000 initial investment requirement, with a phased approach setting milestone targets until full disbursement.

My participation means both in capital, management experience and industry contacts, rest assured that these will be made available to ensure we succeed in this partnership, widely promoting the project to the market and improve expected yield. And my intention is for a long term relationship as I have always been looking for a suitable low-cost but high yield opportunity and this is quite adequate to my expectations, which hopefully with our strong ethics and dedication to work we can actualize our mutual goals in partnership. Moving along to achieve the target of establishing international network opportunity with the venture, here I see a major opportunity that will be highly rewarding.

On your acceptance, we will enter into an agreement as guidance for our relationship and roles, of which you providing your banking coordinates where the investment portfolio will be transferred into. Your local bank’s contact details will also be required so my bank can open up communication with your bankers to ensure a smooth operation and do their own verification, while I will present you with proof of funds from my bank to proceed, with your full cooperation we can close in 21-30days given as timeline.

If you accept the listed terms in the sheet, then I expect to receive your confirmation to proceed to the next steps for us to sign the MOU agreement/contract which involves the paperwork both on the foreign and Thai compliance sides and then disbursement as earlier explained. You have also been informed about the Thai registration requirement as well as our setting up of the holding company. On my part I’m willing and committed to ensure within the 21-30days given as timeline as soon as we have cleared the partnership structure and paperwork end to transfer the investment sum and look forward to your full cooperation to achieve this target.

My schedule is very busy this period but I have already discussed with my team for arrangements to visit by early May to witness business process operations on ground. In return I can host you at our resort if you play golf, sure you will enjoy the exquisite environment ambiance and additional features we have made available for a pleasing experience to our guests. I look forward to a long term business partnership where we can as well explore other rewarding opportunities together.

My own personal team of experts will be available to guide you, don’t hesitate to contact me should you need any clarification. Please review this with your books, let me know your comments and we may hold another conference to analyze all the details together on Wednesday-Thursday when I should be available. I hope to hear from you soon. Thanks”

After more email exchanges  he asked me to pay a registration fee of $3185 USD to register with the Thai Government. He had access to Thai government papers. He then went on to say there was a problem and further funds would need to be paid and that his assistant would now be dealing with it as he was ill. This is when the alarm bells started to ring and I realised it was a scam. His assistance name was Ooi Thanprayong

I have now learnt this was a dirty scam an he was actually someone pretending to be Santi Bhirombakadi.

The details this man gave me were:
Karnjana Kumkot

ACCOUNT NO:064-145-1134

BENEFICIARY NAME:KARNJANA KUMKOT

ADDRESS: 3132 LADPRAORD KLONGJAN,

BANGKAPI, THAILAND 10240

BANK NAME: KASIKORNBANK PUBLIC COMPANY LIMITED.

ADDRESS: 1 Soi RatBurana 27/1, Rat Burana Road, Khwaeng Rat Burana, Khet Rat Burana, Bangkok10140,

THAILAND. SWIFT CODE: KASITHBK

He is pretending to be Sant Bhirmobakadi which is even more worrying as he is a reputable business man which this guy is ruining his name here in the UK

My bank can’t do much as it was me that authorised the payment but I do feel really stupid and annoyed with myself. I wish there was a way of ensuring that such scams caught be found more easily on the Internet as that’s the first place everyone goes to check things out. I hope this helps is preventing further such scams of innocent, honest and hardworking people who are trying to make their business ideas a success

Is Santi Bhirombakadi a scam?
Santi Bhirombakadi is a scam and a bad service provider as per the report filed on dirtyscam.com. They are not aggressive towards their customer satisfaction and complaint grievance.
Is Santi Bhirombakadi legit?
First Santi Bhirombakadi is not a legit business owner or provider. You must take necessary precautions/measures before buying or using their services.
How many reviews are submitted by Santi Bhirombakadi ’s consumers?
There is/are 3 review(s) posted about Santi Bhirombakadi and it indicates that the severity of the scam is High.
Where is Santi Bhirombakadi located?
Santi Bhirombakadi is located at Thailand. You can contact Santi Bhirombakadi by dialing +66-639610354 or visit their website N/A before filing a lawsuit. We are no way affiliated with better business bureau or yelp reviews platform.
How much monetary loss is incurred by Santi Bhirombakadi ’s customers?
According to the report(s), US $3500 was the total loss incurred by Santi Bhirombakadi ’s customers.

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3 Reviews on Santi Bhirombakadi

  1. Scam

    I just realized the attachments were not coming through in my last messages. Sorry for the omission, I am sending again. Please confirm if you receive it this time.

    Note the sheet is a sample and not an offer, the amount available is the size of funds readily available for the portfolio and not to be injected into a single project. That said I need to provide more explanation so we can be on the same page with the model proposed.

    In order to give you proper context prior to our discussion, I wish to explain further on the investment model I proposed and what we bring to the table in value as well. As described in my previous messages this is not a straight debt finance investment but a hybrid of equity and debt finance closer to a convertible debt arrangement. However in order to clarify further for a better and clearer understanding, we will use this hypothesis.

    For example, if my offer is for the entire x Million USD @ 6% interest rate for 10years with a 3years moratorium or grace period and with 30% pledged equity held. The investment will be as private investment (using Mitr Phol Group) not institutional as we are no bank or venture capital.

    The 30% equity will be held on silent partner basis as pledged security collateralized (which may later be translated to a buyback as per convertible debt terms) until full repayment of investment amount at maturity of tenor, the interests terminates with the full repayment of the principal x Million USD with no early payment penalty. The moratorium or grace period is for the first three years during which time no interest will neither be earned nor paid, interest accrues only from the fourth year. Also, in the event of conversion into full equity shareholding, this will be done at the time at the prevailing competitive market rates. Unlike a conventional bank loan, I will participate actively in my full capacity to influence the venture success, not just in providing funds alone.

    The pledged equity is on shares, and is only on temporary basis to be held until full repayment. It is not expected for equity to be transferred until necessary, rather it will be noted both in principle and in a binding contract as pledged equity. For the mentioned Thai registration, the investment will be routed through this structure, which will also be holding the pledged equity and the repayments the same. We will put you through with the right contacts in this regard to make sure you are properly guided.

    We have a preference for annual payment of interests with the capital fully repaid at maturity, this is the buy back scenario we proposed. The equity held is only temporary, if you repay the full investment capital within the maturity of the total 10years tenor agreed then I will agree to release back 20% of the pledged equity back to you and hold only 10% on a permanent basis of full equity investment moving forward. This pledged equity are non-participatory and will not earn any shareholding rights or ROI profits but the interest terminates at maturity of tenor while dilution of shares could occur when the permanent equity could became activated.

    We are currently invested in F&B, FMCG manufacturing, agro tech, hospitality, health, financial and tech startups, sports and fitness as well as our other cross sector partnerships with sports team which we also use in turn for brand promotion and marketing. These in addition to our investments in healthcare being on board Bumrungrad International Hospital Group which is one of the largest in the region. As you know I will not only participate with capital financing alone, I come to the table with deep business experience, networks, market presence all adding value to the venture to optimal returns and this reward will be commensurate with the value I believe I possess which I bring along with my participation in partnership. I do not accept a commission based reward to our partnership rather I wish to become a long-term partner of the success story we will achieve together.

    Please do not misunderstand the scenario described above as an offer, I am only trying to clearly explain the hybrid model I proposed. I cannot make you any promises yet until my team have completed evaluation and risk assessment on the project. We will then present and offer with terms and conditions specific to this project. If further interested we can go ahead to schedule a chat to discuss more in details. Thanks.


    Regards,
    Isara Vongkusolkit, Ph.D.
    Chairman,
    Mitr Phol Group

  2. We were approached from an individual claimed to be Isara Vongkusolkit. The dialogue was very simular as shared on this platform. When I was required to make the transfer though, I asked the account/solicitor Ooi Suparpol for a copy of the passport as he is the receiver of the funds as well from Isara Vongkusolkit for the purpose of the eventual transfer of the funds. They bith felt secure enough to send these copies. I forwarded these to the Thai consulate here in London as well all the addresss given within the MOU and trasnfer details. I hope that this will have consequences which at least will make it more difficult for these people to commit this fraught.

  3. Isara

    Thank you for your post. I have also recieved an email from the supposed “Isara Vongkusolkit”. Sender address: [email protected]

    Here is the body of his email:

    I acknowledge receipt of your response and interested to explore ways to investment. It was my investment consultant that brought the project to my notice while I decided to reach out myself.

    For over four decades I have been in charge of several successful businesses and I am still active till date. Mitr Phol Group is family-owned organization where I currently serve as the President being the patriarch of the family, even while I have also started several companies from the scratch myself which are doing well till date. We are a proudly Thai company that have become Asia’s biggest sugar and bioenergy producer. We started out initially dealing on sugar trading before we expanded into manufacturing & production, food technology and subsequently into Energy, logistics, paper, petrochemicals and construction etc. We are present in over seven countries across Asia and have recently included investments in Australia. Our headquarters is located in Khlong Toei, Bangkok, Thailand.

    Our major business being sugar processing, we have been trading since 1946 and currently run a total of 14 sugar mills worldwide with a yearly sugarcane processing capacity of about 20 million tonnes which yields around 2 million tonnes per year of sugar output. We also own a hospitality chain with five hotels under our brand across the region, while also holding majority stake in power generation and coal mining companies. We also own investments in a range of fashion stores included in our hotel/hospitality chain.

    Asides this, I have been investing in property as a speculator, with a revenue returns of $300 million in the last fiscal year, I think our balance sheet looks pretty robust. Reason why I have expanded into other markets and making private investments in other sectors, so far I have financed several other projects across different sectors and they are currently doing good. Even though my record is public knowledge as an investor, I have made effort to give a brief background of myself for your understanding and would be available to answer any more clarification you may require.

    Anyway I will review the file you have just sent and return to you. After then we may go ahead to schedule a chat to discuss our investment capability. If you so choose you may send your standard NDA as well for signing so we may be free to share information both ways. Thank you.

  4. We have just gained the same experience as you. 2 month of chat with a pseudo Isara Vongkusolkit resulting in a 10 mio € offer last week. The 6285$ bill from the non registered “attorney” Ooi Suparpol made us luckily supicious enough to dig deeper.
    Since all fell for this fraud or almost fell we should exchange our information and experiences in a more private surrounding.
    Grretings from Germany

  5. Same SCAM, different name

    In May 2020 we had the same stuff happening, this guy just changed his name to Isara Vongkusolkit, also a respected person in Thai business area.
    We were offered 250K USD, and even had a call with them.
    Right before transferring the 3000 USD we have found your post, and understood that we have a problem here 🙂
    Thank you for your post here!

  6. Did you report this to police?

    They tried to pull this same scam but we luckily found this information after their “offer”
    Please report this to police

Reviews:3
Reported Loss :3500 $
Severity of Scam :High
Reported by : Anonymous
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