Monthly Archives: September 2016

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

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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.

firefox 2014-08-22 , 13:16:45 https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-xaf1/t31.0-8/194580_1916741475315_1752241_o.jpg 194580_1916741475315_1752241_o.jpg (JPEG Image, 1024 × 640 pixels) - Mozilla Firefox

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.

Screenshot - 2014-07-01 , 08_43_45

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

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