Pattaya police yesterday (10th November 2014) seized a property, and froze all transactions in relation to the property at Pattaya Land Office.
In an investigation into the activities of Thai National Sukanya 'Suk' Pechan (สุกัลยา เป๊ะชาญ), police moved rapidly to ensure that the property could not be resold pending completion of their investigations.
Following a report of fraud being made against Sukanya Pechan, who formerly ran 'P S Consulting and Travel Co. Ltd' in Pattaya, police issued a temporary restraining order against the property to prevent it being sold or transferred.
The case was previously reported last week and the alleged fraud came to light after the UK expat owner requested Ms. Pechan to hand the title deeds over as he intended to sell the property and buy a condominium.
Following searches of company records, and a search at the Pattaya Land Office, it was discovered that Ms Pechan had incorporated a company - on the instructions of the client - on 25th January 2012, transferred the property into the company, and then on just 16 days later on 10th February 2012 took out a KAYFAC redemption option loan against the property for a third of the value of the purchase price.
The client, who paid THB7,500,000 (GBP150,000) for the property, faced the prospect of the redemption option expiring, asked police for urgent assistance. Police were satisfied there was sufficient evidence to act, and moved quickly to seize the property.
Ms Pechan, who now operates P S Legal Group in Cha Am, was tracked down by John McDonald after Pattaya Provincial court issued an order in black case 680/56 freezing Ms. Pechan's assets in the Thai resort town.
Following the initial report on this case, at least two other expats have come forward to discuss their dealings with Ms. Pechan.
Ms. Pechan will face Court on December 6th.