The company is under criminal investigation for charges that include fraud, developing land without the required permits, failure to obtain a building permit, and contravention of the Consumer Protection Act. (See story here.)
The investigation began in July last year following a slew of complaints by investors, including some based in Singapore and Hong Kong.
Kathu Police handed over their case evidence and documents to the Phuket Provincial Public Prosecutor’s Office on October 26, confidently stating that the case should be brought to the court “within two weeks”. (See story here.)
However, by November 16, Public Prosecutor Jessada Banditmongkolkul said that he needed at least one more month to bring the Ace 1 condo case to court. (See story here.)
By January 20, Prosecutor Jessada told The Phuket News, “The prosecutor’s office need to be careful about all the evidence and laws involved in this case before we bring it to court… We do not want to specify when the case will go to court, but we will make it as fast as we can.” (See story here.)
Yet today (May 27), that delay is still ongoing. One prosecutor, who agreed to speak to The Phuket News this morning – on the clear condition that he was not to be publicly named – said the case was handed to Region 8 Police “at the beginning of the year”.
Asked if he knew when the case would be handed back to the Public Prosecutor, he said, “Ask the police.”
He declined to comment any further.
The Office of the Consumer Protection Board (OCPB), the Anti-Money Laundering Office and the Kathu police were all involved in the investigation of complaints by 21 people who paid deposits on 48 units in the yet-to-be-built condo project.
Col Angkul Klaiklueng of the Royal Thai Police Consumer Protection Division, on hearing the news that charges will be brought against the developer, last year said, “The Ace 1 condominium case is very important for us, we consider it a pioneer case.
“There are many more fraudulent cases in the property business. We will study this case very closely. I think I have to go to Phuket again very soon.”