Boiler-room principals in Thailand and linkages to the leaked Panama Papers

Boiler-room principals in Thailand and linkages
to the leaked Panama Papers

This time the Consortium of Defrauded Victims (CDV) explores possible linkages between boiler-room managers and executives in Thailand, unveiled at this site, fraudrecoveryblog.wordpress.com,
and results from the database recently provided by the International Consortium of Investigative Journalists (ICIJ), being part of the leaked Panama Papers.

Evidently, there are valid and legal reasons why companies may be incorporated and registered offshore. In this context it is though found to be of interest to research possible links between data
from the Panama Papers and what CDV can verify from other sources of information as there are, according to the Panama Papers, massive numbers of companies and boiler-room related persons´linked to company registrations in the British Virgin Islands (BVI), where still no on-line company search engine is offered and where strict confidentiality provisions are maintained. It is noted that BVI has become the most popular tax haven by far.

Mark Stephen Hutcherson, Glendon Richard Bullard, and Associates

124052_48788

Figure 1. Mark Hutcherson (left), an American businessman, demonstrates how he was held by a group of kidnappers in his Condominium in Bangkok in 2007. Source: The Sydney Morning Herald, April 14, 2007. Photo: AP.

The now deceased US citizen, Mark Stephen Hutcherson, and former boiler-room and business partner of the UK citizen, Paul John Hayward is, according to the leaked Panama Papers , registered as shareholder of the company, Marson Development Limited, using a registered address at 167 Taja, Lakeview Apts #5, Sukhumvit Soi 4, Klongtoey, Bangkok 10110. The address is probably
misspelled and should read ”Teja Lake View Apartments”, located within the same Sukhumvit Area.

Marson Development Limited was incorporated on the British Virgin Islands (BVI) on May 23, 2003. The business address was registered at: Popular Corporate Services Limited, #1 Suites 1801-1802, 18/F, Alliance Building 130-136, Connaught Road Central, Sheung Wan, Hong Kong. The company was struck from the registry on October 31, 2005.

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Figure 2. Albert Hoogeveen together with his Thai wife, Mattika Hoogeveen. Source: Facebook (2014).

The Dutch citizen, Albert Hoogeveen, known as a boiler-room partner with the now deceased UScitizen, Glendon Richard Bullard, is identified from the Panama papers as a registered shareholder
of the company, Ironside Group Ltd. This company was registered on the Seychelles in November 24, 2014, is recorded as active, and linked to the intermediary, Mossack Fonseca & Co. (Thailand)
Ltd. The intermediary in Thailand is further linked to at least 736 business entities.

Mr. Hoogeveen used the following address when Ironside Group Ltd. was incorporated: Molenkampweg 23, 7971 BN Havelte, The Netherlands. There is a ”H Hoogeveen” identified at this address according to this site. On a facebook page dedicated to the children of Albert Hoogeveen and his Thai wife, Mattika Maxi (Hoogeveen), a Hendrik Hoogeven has provided frequent inputs. It is indicated that this is the same person who is recorded as ”H Hoogeveen” at Molenkampweg 23 in Havelte, Netherlands.

Glen Bullard laid to rest
Figure 3. The US Boiler-Room Principal, Glendon Richard Bullard, laid to rest in Pai, Mae Hong Son province, Thailand, in March 2015.

Interestingly, the brother-in-law of Mr. Bullard, Donald Shane Smith, verified to be part of Bullard’s fraud syndicate, is also recorded as shareholder of Ironside Group Ltd.

Mr. Hoogeveen is further found as a registered shareholder of the company, Almex Management Group Ltd., registered on the Seychelles in September 24, 2014, and recorded as active. This
company is also linked to the intermediary, Mossack Fonseca & Co. (Thailand) Ltd.

Paul John Hayward, Michael Thomas Doherty, Eclipse companies, and Associates

A “John Hayward”, who may or may not be linked to the UK citizen and boiler-room principal, Paul John Hayward, is found from the Panama papers, being registered as shareholder of the company, Parkmead Group Ltd., registered on the British Virgin Islands, Aug. 9, 2001. The company is recorded as defunct and/or struck off, Company records and registers are provided by Portcullis
TrustNet Chambers P.O. Box 3444 Road Town, Tortola, British Virgin Islands. The Portcullis group is a large trust, fund and office service provider to high net worth people and others, according to its
website.

The company, Baker and White Inc. is found from the Panama Papers/Database and is verified to have been used as a receiving account by Hayward’s fraud syndicate. Baker and White Inc. was
incorporated on the British Virgin Islands, Aug. 19, 2003, having a Thai citizen, Preecha Vichaiphaiboon, signing as Director and shareholder and using a residential address in Bangkok: 52
Soi Tewes 1, Krungkasem Road, Bangkoobprom Bangkok, Thailand. Company registration and administration was again provided by Portcullis TrustNet (BVI) Chambers. The company is now defunct or struck off.

Paul-Hayward--CrawleyTFC-Doherty

Figure 4. Paul John Hayward (left, with dark sunglasses), his brother Ryan Hayward (middle, turning his back to the photographer), and business associate, Michael Doherty (right, with dark sunglasses) at the Crawley Town Football Stadium. Source: andrew-drummond.com.

Preecha Vichaiphaiboon is further registered as Director and shareholder of the likewise BVIregistered company, Stillman Kane Inc. Informants verify that Paul John Hayward has been the
manager of a boiler-room named Stillman Kane, selling pre-IPOs named Cardiobiomedical.

Documents retrieved from the boiler-room administration of Jackson Cole/Smith Fairchild with outsourcing agreements between Hayward and Hutcherson, include details about the preparation of setting up Cardiobiomedical as a next fraud vehicle to come.

Stillman Kane Inc. is also registered as an offshore company on British Virgin Islands, Aug. 19 2003 (the same date as when Baker and White Inc. was registered). It was also registered and
administrated by Portcullis TrustNet (BVI) Chambers.

The Hong Kong Police issued a restraint order on Sep. 10, 2008 directed towards the Thai citizens Preecha Vichaiphaiboon (DoB: March 17, 1950) and Chaiphat Wichitkunwongsa (DoB: June 3,
1956), as well as Baker and White Inc. It is noted that Baker and White Inc. was mirrored by an incorporation in Hong Kong, Baker and White Holdings Ltd., having a George M Keister (possibly
using a faked ID) to sign as Director.

A company, Premium Placements Ltd., verified to have been managed by Paul John Hayward, Mark Stephen Hutcherson and Glendon Richard Bullard as a boiler-room and receiving account holder, is also identified from the Panama Papers/Database.

Premium Placements was incorporated on the British Virgin Islands on Oct 22, 2003, having Mossack Fonseca & Co. (Thailand) Ltd. as
intermediary. The same company was also incorporated on the Seychelles on the same date.

Saturn Computer Training LTD_striking off

Figure 5. Paul John Hayward signing an application to get the UK company, Saturn Computer Training Ltd. dissolved and struck off from the registry listing in 2001, when he in parallel is verified to have started his boiler-room operations out of Thailand. Source: Company House, UK.

It is further noted that the US citizen, Jack Fletcher Prather, is identified as the person who introduced Premium Placements to the US Executives of Netspan Inc., a microcap company that was touted with inflated sales by the boiler-room, Premium Placements. It is further known that the Premium Placements recommended Tlway Texco to investors – a fraud scam administrated and managed by Hayward and Associates from office space in Kuala Lumpur.

Leberman Steine Inc. is a company known to have been used as a receiving account holder in parallel with Premium Placements by Hayward and Associates. This company was, according to ICIJs Offshore Leaks Database, incorporated on the British Virgin Islands, Oct 29, 2003. The recorded Director and shareholder is Sheng-Yung Hsiao and the company records and registration was again provided by Portcullis TrustNet (BVI) Chambers, and with Top Crown Consultants Ltd. as intermediary.

Jack Prather_Toxictraders

Figure 6. The US citizen and Boiler-Room Manager, Jack Fletcher Prather. Source: toxictraders.com.

A Michael Doherty, who may or may not be linked to the UK citizen, Michael Thomas Doherty, and business colleague of Paul John Hayward, is also identified from the Panama Papers. He is recorded
as an intermediary of the company Lion Heart Overseas Limited, registered on the British Virgin Islands on Aug. 20, 1998. The company is shown as defunct and/or struck off, using the same office service provider, Portcullis TrustNet Chambers, as found from John Hayward’s registration.

There is further a” Bearer 1” registered as shareholder of Lion Heart Overseas Ltd., whose name is disclosed by the company filings.
The company, Execorp Ltd., is further linked to Lion Heart Overseas Limited as a registered director. The ICIJ documents have disclosed that Thailand’s former Prime Minister’s wife, Potjaman Na Pombejra, was fighting a separate court battle against made corruption charges.

She had purchased an offshore company called Premium Select Inc. The company was incorporated in the British Virgin Islands in 2007, and she was recorded as the sole owner. The company was set
up with the help of a Singapore subsidiary of Swiss banking giant UBS. Two BVI holding companies were appointed as on-paper stand-ins for Potjaman — Execorp Limited as the “nominee” director and Sharecorp Limited as “nominee” shareholder.

The company records and registration of Execorp Limited are also administrated by Portcullis TrustNet Chambers.

The Eclipse cluster of Thai-based companies managed under shadow directorship by Paul John Hayward includes The Australian Pub (The Australian Pub and BBQ), located at Khlong Tan Nuea,
Watthana, Bangkok . One of the shareholders (Oct 2014) of The Australian Bar is a Mr. Isaac Galazan. A person with the same name and linkages to Thailand is found from the Panama papers.
He is recorded as an intermediary of the company, Aces Over Ltd.

This company is registered in Samoa on June 16, 2005, and reported as active. The address provided by Mr. Galazan is: 19 Delapergula Street, Gilo, Jerusalem, Israel. When Mr. Galazan registered as a shareholder of The Australian Pub he though referred to the same
address in Bangkok as The Eclipse Restaurant Co. Ltd., namely: 1-1/43 Sukhumvit Soi 39, (Phrom Pong) Sukhumvit Road, Khlong Ton Neua, Watthana, Bangkok.

The GM of The Eclipse Restaurant Co. Ltd., Mr. Michael Thomas Doherty, suddenly disappeared from its web page and official business email address, and the company’s domain was deleted, when CDV and investigative journalists started to publish documents on the Internet about the boiler-room boys in Thailand and related money laundering activities.

The Eclipse Restaurant Co. Ltd. is also a shareholder of The Australian Pub.

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Figure 7. Eclipse Restaurant’s web site, http://www.eclipse.co.th, suddenly disappeared with an “Under Construction” message in 2014, whereby the GM, Michael Doherty, could not be contacted any
longer via the company’s official web address.

Eclipse Restaurants Co. Ltd. is also a majority shareholder of other companies, Emerald Isle (Phuket), Hospitality Venture Group, and Bletchley Park. Interestingly, the business address provided by Eclipse Restaurants is then different from the other shareholder registrations, namely: 87 Unit 1205, Fl. 12 M. Thai Tower, All Season Place, Witthayu Road, Lumpini, Pathumwan, Bangkok. This is the same address as registered with Advanced Settlement Capital Co. Ltd. This company, together with Fena Asset Co. Ltd., are the majority shareholders of Nana Partner, the company vehicle used to overtake the grand lease of the Nana Plaza Red Light Area. Fena Asset Co.
Ltd. is registered with a business address at: 18/8 Fico Place Bldg Fl. 11, Sukhumvit Road 21 (Asoke) Khlong Toey Nua, Watthana, Bangkok.

This demonstrates a connectivity with the owners behind the Fico Place Building, the Srichawla family. Indeed, the following family members are registered as shareholders of Fena Asset Co. Ltd.:
Mr Akardet Srichawla, Mr Theprit Srichawla, Mrs Panita Srichawla, Mrs Winita Srichawla, Mrs Suchada Srichawla, Mrs Kiranyokpan Sichawala, Mr Krit Srichawla, and Mr. Amon Srichawla.

It is further noted that Glendon Richard Bullard administrated his boiler-room operations behind locked and guarded doors located in the same Interchange Building, owned by Fico Corporation, the official the name of the company was Strategic Holding Group Co. Ltd located on the 22nd floor.

Mr. Bullard was also registered as executive of a similar named company, Strategic Holding Group LLC, incorporated in Georgia (US) on Aug. 7, 2008.

The other major owner of the Nana Plaza Red Light Area, following a recent overtake, is acting through shadow directorship and known to be Paul John Hayward. Srichawla representatives have admitted that Mr. Hayward and the Eclipse Group have become co-partner in the grand lease arrangement.

There is further a company, Roundstone Holdings Ltd., incorporated on the British Virgin Islands on Sep. 24, 1998, identified from the Panama papers. This company is an intermediary of Athena
Financial Services Ltd. A company with the same name, Roundstone Holdings Ltd., is a shareholder of the Q Bar in Bangkok. Paul John Hayward (the ”King Pin”) has frequently been observed at the
Q Bar. Interestingly, there is a Hong Kong-based company with the same name, having Michael Thomas Doherty registered as Director.

When signing as Director he used the same address as The
Eclipse Restaurant Co. Ltd. in Bangkok.

Another company, Dusk Till Dawn Ltd., is also a shareholder of the Q Bar in Bangkok, and registered with the same business address in Hong Kong as with Roundstone Holdings Ltd. There are two companies registered in Thailand named ”Dusk Till Dawn Company Limited”, having registration numbers close to one another and registered in Aug 18 and 21 (2015) respectively. Both are registered as located in the Chon Buri Province.

Gary Vay Lloyd, Paul Richard Bell, John Victor Guchone, and Associates

Ex boiler-room employees have informed that Mark Stephen Hutcherson and Paul John Hayward discussed an investment fraud scam based on faked/inflated sales of carbon trade securities. A US citizen, Gary Vay Lloyd, is identified as a business partner with Messrs. Hutcherson and Hayward and who had previously been involved with the same boiler-room principals in the sales of International Biometrics. Mr. Lloyd registered with the following address: Palm Hills Golf Resort; 1445/76 Petchkasem Road, Cha-am, Petchburi 76120, Thailand.

The Panama papers list Gary Vay Lloyd as shareholder of the company, Asia Carbon Trade X Ltd., registered in the British Virgin Islands on Aug. 1, 2006 and having a business address at Corporate
Services management Limited, 1301 Bank of America Tower, 12 Hartcourt Road Central, Hong Kong. The company was struck off on April 9, 2009.

Gary Lloyd_house
Figure 8. Gary V. Lloyd’s house in Hua Hinh, Thailand. Source: http://www.crimes-of-persuasion.com.

The following is an excerpt from an interview with a former boiler-room associate employed by Paul John Hayward (PJH):
Gary Lloyd then stated, and to my total surprise, that Hutch (Mark Stephen Hutcherson) was sitting in his living room and that they were having a few drinks and discussing business ideas, including the Carbon Credit Market or CCX. The market that was established in relation to the
Kyoto Protocol and the reduction of carbon emissions in the atmosphere.
I did receive a telephone call from Paul John Hayward (PJH) one afternoon after the telephone call with Gary Lloyd and after I had stopped working with PJH. He then said to me that he had a connection with someone, no name was mentioned, who was starting up a boiler-room in relation to
the CCX markets and that his connection, as he put it, was looking to employ a Room Manager and PJH asked me if I would like him to give his connection my name for consideration for the position of Room Manager.

The boiler-room principal and US citizen, Paul Richard Bell (reported as deceased but not officially confirmed), with known partnerships with Messrs. Hutcherson and Hayward, is also found in the
Panama papers. Mr. Bell is recorded as shareholder of the company, ALV Capital Limited. This company was incorporated on the British Virgin Islands, May 20, 2004, having Paul Richard Bell and the UK-citizen, David Adamson Hirst, recorded as shareholders. It was reported as struck off on Oct. 31, 2008. The business address was listed as: Aspen Global Incorporations Ltd., 1 Suite 2302-3/23 F, Pacific Plaza 410, Des Voeux Road West, Hong Kong.

ALV Capital Limited was also registered in Hong Kong on May 27, 2004, having the same Paul Richard Bell and David Adamson Hirst, recorded as Directors and with stated residencies in Bangkok, Thailand.

ALV Capital Ltd. (”ALV”) is a known investment fraud object sold by numerous boiler-rooms. The fraud object is also identified from administrative lists captured from the Tlway Texco administration in Kuala Lumpur, verified to have conducted boiler-room sales under management by Paul Richard Bell initially, and later on, by Mark Stephen Hutcherson and Paul John Hayward.

Mr. Bell also appears in the Panama Papers/Database as shareholder of the company Siam Pure Gas Ltd., incorporated in British Virgin Islands, Jan. 6, 2006. The registered business address is the same as with ALV Capital Limited: Aspen Global Incorporations Ltd., 1 Suite 2302-3/23 F, Pacific Plaza 410, Des Voeux Road West, Hong Kong. The company was struck off on Oct 31, 2008. Siam
Pure Gas was sold by the boiler room, ALV Group, under management by Paul Richard Bell and Associates.

The intermediary, Aspen Global Incorporations Ltd. is, according to the Panama Papers/Database, linked to four other companies registered in the British Virgin Islands: Interprop Holdings Ltd.
(Paul Richard Bell, shareholder), Thanksgiving Ltd. (Arrow Asia Ltd, shareholder), Solar Power Systems Ltd. (Paul Richard Bell, shareholder), and Arrow Asia Ltd. (Rujee Prasiansri, shareholder).

Mr. Bell’s intimate business and boiler-room co-partner, the US citizen John Victor Guchone, is also listed by the Panama Papers. Mr. Guchone is recorded as shareholder of the company, Talent Solution Group Ltd., incorporated on the British Virgin Islands, Jan. 5, 2005 and struck off on Oct. 31, 2006. The registered company address is: Bangkapi Mansion RM 11-A, Sukhumvit Road, Soi 12, Bangkok, Thailand.

Other Panama-based linkages

A company named Silverdale International Holdings is a shareholder of the Thai- and Eclipse-related company, CEC Holdings. The former company is registered in Panama and have three Directors listed: Silvio Perlino, Angelo Bonanata, and Gianpiero Abellonio. Perlino, Bonanata and Abellonio are linked as nominees to more than 600 companies registered in Panama, bearing all the resemblances of offshore company registration with nominees as signing goal-keepers.

//Consortium of Defrauded Victims (CDV)
fraudrecoveryblog.wordpress.com

Time for a change? – Crawley Town FC and the benefactor, Paul John Hayward

The CEO of the British football club, Crawley Town FC (”CTFC”), Mr. Mike Dunford, has recently been interviewed, talking about a possible coming takeover of Crawley Town FC. In this interview Mr. Dunford states that the club ”…has been very, very lucky, amazingly lucky, to have a benefactor like Paul Hayward, to decide to put so much money into the club..”.

This is counter-balanced by all members of the Consortium of Defrauded Victims (CDV) in nine European countries who have been very, very unlucky, extremely unlucky, to have been defrauded of more than 20 million USD through the same Paul Hayward´s boiler-room syndicate over the 2003-2010+ period of time.

Some estimated 1000+ private investors in the UK alone, beyond CDV, also have reasons to share the same unluckiness, being targeted by Mr. Hayward’s boiler-room scams. Some of the defrauded UK investors are known to reside not far from Crawley Town.

Luck on one side, flip the coin, and the root of unluckiness can be unveiled on the other side.

Paul John Hayward left the UK in the early 2000 with liquidated and dissolved UK companies behind. A few years later, having entered into the boiler-room management top segment in Bangkok after stints as junior Telephone Qualifier in the boiler-room, Foreign Currency International (among others), he is estimated to have accrued a private wealth of some 100-150 million USD.

“I was accused of operating the international phone calls illegally. Actually, I don’t understand. I have the internet system connected legally. I firmly believe that it is not my mistake,” he said. “It could be two things: I could have been cheated by Paul, or I was treated badly by a person who wants to compete with me.”… The mysterious ‘Paul’ is believed to have fled to Bangkok after the probe began. Authorities said they were still investigating his disappearance.”
Phnom Pen Post, July 18, 2003: “Local NGO used in ‘boiler room’ scam”

A group of Britons arrested during a raid on a suspected boiler room in Phnom Penh, Cambodia

Randy (yellow t-shirt, far left) from Detroit (US),
employed by Paul John Hayward as boiler-room opener for many years. Toby (grey t-shirt, far right) from the UK, employed by Paul John Hayward as boiler-room manager and head of Loaders’ Department for many years, having a Vietnamese girlfriend.
Picture from the raid of the Smith-Fairchild boiler-room in Phnom Penh, July 2003.

“Two Britons and two Americans, fleeing Thailand after a police crackdown on bogus share dealing, handed over more than $100,000 (£72,000) in cash to officials at Bangkok airport yesterday before boarding a flight to Switzerland. As more than 20 crooked share-dealing operations closed down throughout the Thai capital putting hundreds of young smartly dressed Britons and other young foreigners on the streets, many of the bosses appeared to be fleeing the capital with the cash float from their safes. Two Britons, Patrick Campbell, 33, and John Hayward, 29, were arrested with Americans Richard Albino, 46, and Donald Kern, 40, as they attempted to board an early morning Thai airlines flight to Zurich. They were asked to accompany immigration officers to a room where a search revealed that they were carrying $100,000 and 2.5 million Thai baht (£40,000).”
Telegraph, July 21, 2001

“Crime Suppression Division police have arrested four Britons, a Filipino woman and a French man for having allegedly deceiving foreign investors to buy stocks online and cheated them. Pol Maj Gen Panya Mamen, deputy Central Investigation Bureau commissioner, said the six foreigners were arrested at a house on Soi Thonglor while deceiving foreigners to invest in stock markets through Internet. Police seized seven desktop computers, six notebook computers and 31 mobile phones from the house. Information from the seized computers showed that they had deceived the investors to invest over Bt100 million in fake firms. The foreigners claimed that they were hired by a man identified only as Paul for Bt30,000 to Bt50,000 a month to make phone calls.”
The Nation, September 19, 2009

Now hasn’t Mr. Hayward been extremely lucky and isn’t Crawley Town FC’s/Mike Dunford’s perception of luckiness linked to the thousands of people being defrauded over the years? Suffice to say, hadn’t Paul Hayward accrued his wealth through boiler-room scams, there wouldn’t have been any benefactor named Paul Hayward pouring money into Crawley Town FC.

When reviewing the Crawley Town FCs account statements (Companies House, UK), year 2013 up until June 2014, it is observed that share capital was anonymously raised and transacted as follows:

Aug 12, 2012 (£1,500,000)
Nov 19, 2012 (£110,496)
Dec 19, 2012 (£317,648)
May 20, 2013 (£187,162)
June 24, 2013 (£197,000)

CTFC received continued and anonymized financial support in 2013 and 2014 through the following transactions:

Aug 1, 2013 (£ 1,500,000),
Aug 30 2013 (£ 39,000),
May 31, 2014 (£ 916,648)

No names are mentioned of those being the shareholders.

2,312,608 ordinary shares (£1 pound per share) were issued in 2013, by which the club netted an income of £2,312,608.

2,455,648 ordinary shares {£1 per share) were issued in 2014, by which the club netted an income of £ 2,455,648.

At the same time, the accountants made going concern statements as the club made losses and had net current liabilities. The losses were funded by the share subscriptions via anonymized funders.

Michael Dunford has admitted that the private financier of CFTC, contributing with £5 million, has indeed been Paul Hayward. The connectivity with co-funder, Michael Doherty, is supported by his visual appearance at the CTFC football stadium, together with Paul, and his brother, Ryan Hayward, and from information he put up on his now deleted tweet.

Such amount of money (in total and per individual transaction) cannot be transferred legally without meeting with international anti-money laundering regulations. This brings along a set of questions:

– Did the facilitator (go-between) check from where the funds originated as per anti-money laundering regulations?

– Did the facilitator do any KYC diligence before taking Paul John Hayward/Michael Doherty on-board?

– If so, did they care to check the Companies House filings of their new Client, Paul John Hayward?

– Etc.

Maybe the coin will be tossed and flipped again – this time Paul John Hayward becoming unlucky?
//Consortium of Defrauded Victims (CDV)

 

Shadow Directorship and Boiler-Room Management

Shadow Directorship

According to the UK Companies Act 2006, a shadow director is a person or corporate body which, although not officially appointed to the Board of Directors, controls or influences the management of the Company.

In the UK a shadow director is subject to the same duties and obligations as duly appointed directors of the Board.

Interestingly, many shadow directorships are only discovered when a problem is identified. For example, where the Company has entered into a substantial property transaction with the shadow director and the relevant shareholder approval was not obtained, or where the shadow director finds himself facing civil or criminal liability following a claim that his actions amount to reckless or fraudulent trading.

Companies, and those offering advice to Companies, must therefore be vigilant in identifying shadow directorships and ensuring that the prevailing legal requirements are met.

A shadow director will not be released from their duties and obligations simply because the shadow director, or their Company, was unaware of the existence of the shadow directorship.

Recent court cases in the UK further indicate that an individual whose involvement is only restricted to certain decisions could still be considered a shadow director and that liability for shadow and de facto directors prevail.

Eclipse companies’ shadows and stars

The UK-citizen, Paul John Hayward (PJH), the Boiler-Room Principal well covered on this blog, is a shadow/de facto director, under conditions concealed to the public. Would he have maintained his role as shadow and de facto director under UK jurisdiction he would be in deep trouble.

Now Hayward is not registering the companies to which he provides influences on as shadow and de facto director in the UK but preferably in Thailand.

Recently Hayward made a statement through the Board, Crawley Town FC, that his company, Eclipse, was formed in 1998 and employs 3,000 people.

CDV have tested this statement and concludes, after examining 100+ company data (October, 2014) from the Thai business registry, that Hayward is not a registered shareholder of any Eclipse-named company in Thailand nor a registered executive. He is not even a registered shareholder or executive of any of the many companies linked to the core Eclipse-companies being registered in Thailand.

If Hayward then withholds that it is” his” company it only remains one possibility – he is maintaining his influences as shadow and de facto director, a fact being concealed to the public.

However, CDV have made an interesting discovery, namely that relatives of PJH appear in several Eclipse-related companies in Thailand.

His mother, Valencia Joanne Hayward, owns 30% of the shares in Hospitality Contracts Co. Ltd., a sister company to Hospitality Venture Group Co. Ltd. (Company Registration No. 0105544071348) which was formed in July, 2001 and the initial business instrument used by Hayward to launder dirty Boiler-Room money into the hospitality sector in Thailand.

Boiler-Room profits earned and hidden and taxes foregone

Boiler-Room profits now started to expand and Hayward needed quasi-legal vehicles to launder money at increasing scale. Even Thai Authorities were cheated by the company formations as the Boiler-Room Offices did not pay any other tax than on rented office space – not any salary tax, social security tax or annual tax. The Boiler-Room administration got concerned about the situation when the Thai Tax Authorities were expected to arrive to one of the Jackson Cole Boiler-Rooms in Bangkok, as illustrated by this retrieved manuscript below:

Tax visit to BR in BKK

Soon PJH had cash flows from criminal boiler-room money coming from faked companies such as, Smith-Fairchild and Jackson Cole, operating out of Bangkok and Phnom Penh, as illustrated by the snap-shot situation, April-May 2003, and captured from the BR administration:

BR revenues BKK

Money were deposited at bank accounts in Hong Kong (HSBC, Bank of East Asia, and Chinatrust Commercial Bank) as well as in safe deposits in Casinos in Bangkok.

Note the 109,700 USD to be transferred to” P.H.” on May 19, 2003 -” P.H.” being the acronym of the alias, ”Paul Hilton”, used by PJH and 124,771 USD to be sent to ”Hans”, i.e. the Swiss citizen, Hans-Eric Wachter, who became a business partner and Boiler-Room associate with PJH.

The circular pattern of directorship

Returning back to the Hospitality Contracts’ business formation, registered in April, 2003: Valencia Joanne Hayward used the residential address, 23/2 Soi Methi Niwet, Khlong Tan, Khlong Toei, Bangkok, when she registered as shareholder. This address happens to be the same as Michael Doherty’s residential address, PJHs business partner with Eclipse.

The Thai business registry includes two core Eclipse-named companies of interest, Eclipse Restaurants Co. Ltd. and Eclipse Management Co. Ltd. None of them includes PJH as shareholder or executive.

Eclipse Restaurants Co. Ltd. was registered in March, 2009 (Company Registration No. 0105552029509). The Thai Business Registry though maintain records of Eclipse Restaurants being misspelled in English, ”Eclipse Reataurants Co. Ltd.”, wherefore the entity cannot easily be searched.

This company is recorded with three shareholders, namely CEC Holding Co. Ltd. (91.5%; Thai), Eclipse Management Co. Ltd. (7.5; Thai) and Mr. Darren Williams (1%; UK).

The majority shareholder, CEC Holding Co. Ltd., is also registered by the Thai business registry (March, 2003; Company Registration No. 0105546028318) which includes the following three shareholders: Wagon Shop Co. Ltd. (50%; Thai), Silverdale International Holdings (49%; Panama) and Ms Charinthon Thawaiphon (1%; Thai).

The shareholders of the majority owner of CEC Holding Co. Ltd., namely Wagon Shop Co. Ltd., are: Ms Charinthon Thawaiphon (74%; ThaiI), Mr. Darren Williams (25%; UK), and Silverdale International Holdings (1%; Panama).

 A Panama-registered company and directors

Silverdale International Holdings S.A. was registered in February 2006 in Panama (Company Registration No.: 518211) with Silvio Perlino, Angelo Bonanata and Gianpiero Abellonio as Directors. They all appear as Directors of 100+ management, venture and investment companies registered in Panama and are also registered as co-directors of the same companies in many instances. Interestingly, these director names yield Internet trails to people having the same names and known as Monaco-based financiers.

The observant reader have probably already discovered the circular ownership pattern circumventing the Eclipse Restaurants company. For example, CEC Holding is a majority shareholder having Wagon Shop as shareholder and with Silverdale International being a shareholder of both CEC Holding and Wagon Shop.

The company and domain sliding away from the Internet

Irrespective the dimension of shadow directorship examined in this context, the Thai ”Eclipse” company, referred to by PJH through the CTFCs Board, is now identified with:

– having a website, eclipse.co.th, which only generates a ”Server not found” error, an issue which would cause immediate concern for anyone running a reputable firm. The domain, eclipse.co.th, has recently been deleted according to WhoIs records.

– a GM, Michael Doherty, who cannot any longer be contacted via his business address at eclipse.co.th

– broken linkages on the Internet and its facebook page (https://www.facebook.com/pages/Eclipse-Restaurants-CoLtd/160439210679925)

Eclipse Restaurants Co. Ltd. further appears as the major shareholder (90.196%; Thai) of the company, Bletchley Park Co. Ltd., registered in July 2008. The other shareholders include Mrs Sumali Chintanukun (9.797%; Thai) and (again) Mr Darren Williams (0.007; UK). This company is now recorded as defunct

A brother and sister-in-law

PJHs brother, Ryan Mark Hayward, appears as shareholder in the Thai-registered company, Holte Asia Co. Ltd. This company was registered in April, 2009 (Company Registration No. 0105552035550). He (UK) is recorded with 49% of the shares and his wife, Phairin Hayward (Thai), is registered with 43% of the shares. A Mrs Pakwadee Klawikorn (Thai) is registered with the remaining 8% of the shares.

Ryan Mark Hayward

Ryan Mark Hayward

 

Phairin Hayward

Phairin Hayward

Eclipse Management Co. Ltd. is registered in Thailand in Sep. 2005 (Company Registration No. 0105548121820) and having the following shareholders: Michael Thomas Doherty (49%; UK), Ms Naphatson Rattanabunthian (50.98%; Thai) and Mrs Manita Kunagonreuangkit (0.02; Thai). Mr Doherty’s address here is not consistent with his presumed residence at 23/2 Soi Methi Niwet (Soi Sukhumvit 24) a/k/a “Doherty Residence”. It is however the address of Plato Co. Ltd. (dissolved), which had Doherty as a principal.

The original company instrument used for PJHs laundering of Boiler-Room Money, Hospitality Venture Group Co. Ltd., originating in 2001, Is recorded with the following shareholders: Eclipse Restaurants Co. Ltd. (86.27% preferred shares; Thai), Mrs Denise Lamb (13.725% preferred shares; US) and (again) Mr Darren Williams (0.007% preferred shares; UK). This company is recorded with the same business address as Scruffy Murphy´s in Phuket. The Scruffy Murphy´s Irish Pub in Pukhet is known to be owned by PJH.

Summary

This short analysis makes it clear that:

1. PJH does not appear as shareholder or executive of companies linked to ”Eclipse” in Thailand, referred to by him through the CTFC Board’s meeting recently (http://wall.crawleytownfc.com/Event/Reds_Wall_2?Page=346). Influence and power are maintained by shadow and de facto directorship concealed to the public.

2. Relatives to PJH, i.e. his mother, brother, and sister-in-law, occur as executives and shareholders of Eclipse-related companies registered in Thailand

3. The Eclipse company(-ies) have a circular shareholder pattern much like a Russian Doll appearance.

CDV have gathered and analysed more than 100 Thai-based companies which are nested with one another to form the Eclipse Group of companies where money laundering via criminal Boiler-Room operations occur.

CDVs wealth of due diligence will now be handed over to relevant national and international Police Authorities as the fraud syndicate with PJH as main Principal have maintained to reject any settlement procedures. CDV knows through due diligence received that the fraud syndicate have had several internal meetings in Bangkok to discuss the situation vs. CDV also at points in time when Glendon R. Bullard and Mark S. Hutcherson (now being both reported dead) were involved.

PJH has maintained his argument that no monmey is going to be returned to the defrauded victims as he believes there are no trails left proofing his involvement as Boiler-Room Prinicpal. CDV is up to disproof this statement.

CDV have verifications proofing that PJH has received the first Demand Letter issued on behalf of CDV. There are further voice recordings archived in which PJH admits and recognize the Demand Letter. He has not at any time disputed the accusations made against him by CDV.
//The Consortium of Defrauded Victims (CDV)

Boiler-Room worker indicated to have killed Thai Police

On April 15 2015 at 2.40 am in the morning a 24 year old Thai Police Lance Corporal, Wiroon Srinarong, a border patrol policeman, was killed on his motorbike when a speedy Mercedes Benz hit him near the Hua Hinh Hospital. The body of the Police was found some 200 m away from the car.

Pol Lt Nonthawat Thongkham, who was on duty at that time, and rescuers of the Sawang Hua Hin Thammasathan Foundation, arrived to the scene.

They found a two-door retractable-roof Mercedes Benz car with Bangkok license plate at the scene. The front was badly damaged and the car’s air bags had been deployed. Its wind shield was broken and its engine oil leaked but it did not catch fire.

 

Crashed car

http://news.thaivisa.com/thailand/british-tourist-kills-police-in-crash/50589/

Nonthwat interrogated the car driver (a Brit) who stated that he was speeding his car from his residence in Cha-am to Hua Hinh and the policeman made a sudden u-turn at the sport cutting into his way and making it impossible for him to stop his car in time.

Suffice to say, the car had to have considerable speed to cause the killing and damages on the car itself and the motorbike being tossed around.

So far this story just represents another flake of tragedy happening everyday on Thai roads, so why is this case highlighted on this blog?

The interesting part starts from here and onwards. Thai media reported collectively that the driver was a British citizen and tourist, John Alexander, age 44.

John Alexander, a British tourist driving a speedy Mercedes-Benz at 02.40 am in the morning near Hua Hinh Hospital? Really?

According to due diligence received by CDV, the driver was indeed a British citizen but not a tourist and not having Alexander as his surname. The driver was rather a John Edmonds a/k/a” Jeeves” who has been a Boiler-Room employee and Office Manager for at least 10 years working with criminal sales of faked and fabricated securities from offices in Bangkok, Kuala Lumpur, Jakarta and beyond. Mr. Edmonds a/k/a ”Jeeves” has been a long-time employee of fraud syndicates managed by Paul John Hayward, Mark Stephen Hutcherson (US citizen who passed away in Plano, Texas, in June this year) and Associates.

At around 2003-2005 ”Jeeves” worked as Office Manager (”Team Two”) at Boiler-Rooms operating in office space rented from Tlway Texco, a Malaysian and Singaporean company used as a front cover and having a CEO, Tabaruk Abdullaev, who made partnership with the fraud syndicate. ”Jeeves” shared his management position with the US-citizen, Jack Fletcher Prather.

The influx of foreign boiler-room workers was concealed to the Malaysian Authorities by a sister company, Tlway Holidays, pretending to arrange tourist and holiday travels.

”Jeeves” was recruited as Boiler-Room Manager by Paul John Hayward/Mark Stephen Hutcherson and located at the office in Menara TA One in Kuala Lumpur.

 

Menara TA One

Boiler-room office located at the fashionable Menara TA One
in Kuala Lumpur.

This is “Jeeves” during the Boiler-Room workers’ fun life in Kuala Lumpur:

Jeeves KL

The fraud syndicate were having administration and sales of faked/fabricated securities from four other offices in Kuala Lumpur at that point in time, one at Menara Pan Global building, two at Phileo Promenade, and one at 31st floor, Wisma Goldhill.

Some 110-140 workers were employed at the four Boiler-Rooms in Kuala Lumpur. There was an additional Boiler-Room office located at Pilau Penang, Malaysia.

The Boiler-Room Office layout at Menara TA One is illustrated below:

Menara TA One office layout

 

The Account Openers (AOs) had a sales target of 60,000-70,000 USD to be reached every day. Lists with Client names to be cold-called by the AOs, some 500+, arrived on a daily basis from Bangkok.

The Tlway Admin provided support to the Boiler-Room teams by calling Hong Kong every morning to get the latest weather forecast as the AOs pretended to call from Hong Kong.

The working environment in the Boiler-Room office is illustrated below:

BR worker 1

Boiler-Room worker, ”Jack” possibly from Romania, employed at the Menara TA One Office. Note the dollar signs and the sheets separated from the handbook, Dialing for Dollars, on the wall behind and used by the Account Openers when cold-calling.

 

BR worker 2

”Andre”, Romanian citizen, who has worked for Paul John Hayward at many Boiler-Rooms In the Philippines apart from his job in Kuala Lumpur (2003/2004). In late 2009 he was working in a Boiler-Room located in Makati, Manila, and indicated to have been managed by Paul John Hayward.

 

Johnny KL

“Johnny”, Johnny Templeton, UK citizen. Deceased. Reported to have made huge incomes from Boiler-Room sales of faked/inflated securities. Re-located to the Wisma Goldhill Office by the management.

Funds paid by victimized Investors were transacted into a receiving bank account. It would immediately be moved to a 2nd bank and then to Bangkok and/or Kuala Lumpur but often large amounts of cash were delivered to the TLWAY SDH. BHD, Head Office at Menara TA Towers by the money launderer, Habib. He is a local Malaysian who owns a local money exchange. An Indian-Malaysian, Perumal, was regarded as the Tlway accountant and thought to be involved with Habib in the laundering of the money.

What happened with ”Jeeves” after the Boiler-Room feast in Kuala Lumpur? He is indicated to have returned to Bangkok and worked with Boiler-Rooms since many years. He has a Thai girlfriend/wife and at least one child.

”Jeeves” is nick-named ”Posh Cunt” by Boiler-Room workers as he likes to pretend to sound like a well-behaved Englishman on the phone. He is known to present himself as the VP of Institutional Trading and has made a profitable partnership with the UK citizen, ”Twitchy”, who often would follow up on ”Jeeves” call.

”Twitchy” has been employed by Paul John Hayward for many years and has been one of the most successful senior fake salesman earning millions of USD and investing in property in Thailand. ”Twitchy” is now stated to have abandoned the Boiler-Room scene, possibly due to initiatives like  CDVs blog and naming-and-shaming on other Internet sites.

The Thaivisa thread about the incident with the Thai Police being killed in April this year includes one comment which is probably more on spot than most others:

The only John I know in Chaam who drives a Merc is a nefarious character always bragging about how he rips people off in Bangkok (boiler rooms)”.

This story is not the only one where ex pat Boiler-Room employees are reported/indicated to have killed or injured people on the roads in Thailand. The socioeconomic impacts of the Boiler-Room industry in Thailand are, suffice to say, far wider than the monetary values and griefs caused by the rip off from investors abroad.

//The Consortium of Defrauded Victims (CDV)

Updates on Paul John Hayward

This time the Consortium of Defrauded Victims (CDV) provide some updated information concerning the Brit and Boiler-Room principal, Paul John Hayward. His Date of Birth and Place of Birth have been confirmed and are now included in the document retrievable from this site. You can find the document and read about him here -see previous articles and links.

The updated document also includes some information about Hayward’s known financing in secrecy but in partnership with the Irishman Michael Doherty, of the Crawley Town FC in the UK. The financing represents an estimated five million since 2011, poured into the football club without any known demands than to keep the financiers having a low profile.

This episode, well covered by andrew-drummond.com, should become of interest to British Media as well as legal agencies as the matter of possible boiler-room generated cash flows now enters into UK jurisdiction. The City of London Police were in fact searching for Mr. Hayward during the previous Netspan Inc. – The Roth Group boiler-room investigation, but did not succeed at that point in time to identify him as they were looking for the wrong “Paul Hilton”, an alias commonly used by Mr. Hayward.

CDV have received statements from several informants who, independently from one another, confirm that the Paul Joihn Hayward spotted around the Crawley Town FC stadium is identical with the physical person who e.g. arrived on a regular basis at the boiler-room administration in Kuala Lumpur (2005/2006), when the fraud syndicate rented office space from the Tlway Texco company. Former boiler-room employees also confirm that the photos represent the same physical person who have managed investment fraud operations at large-scale from early 2000 until present time.

It has also become known to CDV that Mr. Hayward has recently requested legal services from a law firm in Ipswich, Gotelee Solicitors. Gotelee have sent letters to Andrew Drummond as well as the Crawley Town FC.

In light of this CDV would welcome Gotelee Solictors to: (1) conduct an in-depth Customer Due Diligence check on Mr. Hayward, in accordance with current anti-money laundering and terrorists financing regulations and as regulated by Chapter 4, Law Society (UK), and (2) they should also confirm they are satisfied that the funds they have received from Mr. Hayward, in respect of their services originate from a legal source and are not the proceeds of crime.

The fraud syndicate will be further exposed in coming articles.

//The Consortium of Defrauded Victims (CDV)

CDVs black list of banks to avoid

The Consortium of Defrauded Victims (CDV) have decided to present a black list of banks to avoid, based on experiences of failure by selected banks to comply with national and international Know Your Customer (KYC) rules and regulations and/or FATF anti-money laundering and terrorist financing policy and guidelines and/or failure to meet with CDVs inquiries to reach a settlement.

The banks play a pivoting role in investment fraud scams. If a fraudulent and criminal Client is not accepted by the bank, there is no transaction and money-laundering to feed the fraud syndicate.

If the banks would have done a proper identity screening during the initial customer acceptance process combined with a follow-up KYC reporting, most of the bank transfers presented on this blog would have been blocked and not allowed.

The CDV black list of banks to avoid will be recurrently updated as new data becomes available.

HSBC Hong Kong and Singapore

HSBC (HK and SG) opened receiving accounts on behalf of the beneficiaries Tlway Texco Ltd. and Lockway Ltd.

Tlway Texco Ltd. is registered in Singapore and mirrored via a company registration, Tlway Texco SDN. BHD., in Malaysia. The company was used as a front and cover to arrange with boiler-room sales from its office space in Kuala Lumpur and Pilau Penang, Malaysia. The CEO of Tlway Texco, Mr. Tabarruk Abdullaev, made partnership with the UK-citizen, Paul John Hayward and the US-citizen, Mark Stephen Hutcherson to split the profits from the boiler-room sales. The US-citizen, Jack Fletcher Prather, was appointed as Office Manager in Kuala Lumpur. The US-citizen and boiler-room principal, Glendon Richard Bullard, who is confirmed by US Authorities to have passed away on March 7, 2015 in Mae Hong Song in Northern Thailand, was also part of the boiler-room management.

The company, Lockway Ltd., was registered in Hong Kong with a Malaysian ‘goal-keeper’, Devaraj Singaram, as company director with one ordinary share with a par value of one HK dollar. Lockway Ltd. further used a faked business address in Hong Kong:  Room 2303, Office Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong.

A KYC screening would easily have revealed that the beneficiary, Tlway Texco Ltd., made fictitious advertisements on the internet providing flawed marketing and company information (see e.g. http://www.fibre2fashion.com/Tlwaytexco/) that did not meet with company registration data, including red figure financial statements filed to authorities in Malaysia (net profit: -540,730 Ringit; 2006). A simple Internet screening would further have revealed that the CEO of the beneficiary, Tlway Texco Ltd. was rather known for patents on firearms and weapons than as a cotton merchant & manufacturer – as claimed by the company.

The boiler-room sales, using the aforementioned beneficiary accounts at HSBC HK and SG, included the faked investment companies, Masahiro International, Jameson West Associates Ltd., Warner Beck Inc., McBain Baxter Holdings Ltd. and Carver Brooks Associates – all sending from within the same local network and IP addresses.

The US-citizen, Michael Lee Port, using a faked Belgian passport and identity, “Peter Steven”, is verified to have signed as company director and thereby had rights to withdraw money from receiving accounts. Mr. Port was arrested and imprisoned in Singapore in 2005. He was snatched while trying to withdraw cash from DBS bank in Singapore using The Roth Group (TRG) as receving account.

INTEL received verifies that the Police Fraud Squad in Singapore reported in April, 2005 about suspicious transfers of large sums of money on accounts held by Mr. Michael Lee Port. Nevertheless, HSBC HK and SG continued to maintain banking services to companies registered by the same Michael Lee Port using a faked ID.

HSBC HK have in their responses neither agreed to or denied liability to the accusations made by CDV. The banks has simply denied to agree on any settlement with CDV.

Given the fact that HSBC has recently been associated with plenty of bad publicity related to the bank’s role in several money-laundering cases being unveiled, CDV are somewhat surprised by the response received.

Taiwan Business Bank, Ltd.

The bank has responded to CDV and stated that they have complied with KYC regulations ant that the accusations made by CDV are not true. Therefore, the bank rejects any settlement with CDV.

The beneficiary of the receiving account arranged with by Taiwan Business Bank, Dragon Securities, was publicly warned against by the Financial Services Agency in Japan, as the company used a faked business address, 502 Hotta-kata, 3-6-10 Hirusaido, Kagurazaka, Shinjyuku-ku, Tokyo 162-0825, already in February, 2006.

The verified transactions, through Taiwan Business Bank bank with Dragon Securities as beneficiary took place during the Feb. 2006 to June 2009 period – more than three years after the Japanese regulatory had warned against the beneficiary (http://www.fsa.go.jp/en/refer/cold/).

The view of CDV is that this case does demonstrate that the bank failed to comply with local and FATF anti-money laundering and terrorist financing policy and guidelines.

The representatives of Dragon Securities are verified to have presented themselves with faked IDs and business cards (e.g. “David Prince”, “Charles Clifford”, “Jason Sinclair”, “Mark Gold”, “Michael James”, “Robert Robins”, “Justin Jones”, “Thomas Stanton”).

The beneficiary, Dragon Securities, also acted as a boiler-room and is verified to have been involved in unsolicited cold-calling and criminal sales of faked/inflated investment objects (“ALTPRO”).

Dragon Securities were further warned against publicly by, among others, the Swedish financial supervisory authority (fi.se) already in Sept., 2005 (http://www.fi.se/Folder-EN/Startpage/Register/Investor-alerts/Warning-list/Warning-for-Dragon-Securities/) – more than four years before the bank continued to allow transactions via the beneficiary, Dragon Securities.

//The Consortium of Defrauded Victims (CDV)

CDV awaiting the banks’ responses but consider further actions

The Consortium of Defrauded Victims (CDV) announces that banks verified to have provided banking services to the fraud syndicate without conducting appropriate KYC background checks and thus allowing dubious/fraudulent business accounts to be opened and who also failed to carry out any meaningful follow-up account monitoring in the large-scale investment fraud scam reported on this blog site, have now been reminded to provide their responses to CDV.

If the banks involved fail to respond within the stipulated time-frame CDV will be left with no other option but to seriously consider seeking a ‘Discovery Order’ or escalating the Banks’ connivance in this matter to the respective Financial Regulator, Banking Ombudsman and Governments, etc., and/or making further detailed exposures through our blog available by e.g. publicly expose the participating banks’ on a ”CDV black list of banks to avoid”.

The CDV blog is now read by more than 30,000 people including major banking institutions, news magazines, the EU Commission, and legal agencies world-wide.

Informants or blog readers who may have further due diligence about the cases and boiler-room managers/employees referred to here are welcome to provide their comments at this blog site or by sending emails to fraudrecoveryblog at yahoo.com. Information and due diligence are treated with confidentiality and discretion.

//Consortium of Defrauded Victims (CDV)