The elusive jet-setter Roscoe Maloney – supremo of the ‘Touchwood’ forestry fiasco is currently in Cambodia presumably trying to sell the land he purchased there for one of his schemes. Sources had him departing Phnom Penh through Bangkok last week. For those wishing to talk to him police may or may not assist in providing a return date and flight number
Just a quick update as some news about Maloney’s whereabouts - in Southport on the Gold Coast in Australia - has just been published see http://www.andrew-drummond.com/2014/05/hes-back-and-opening-up-new-business.html
There is not yet an arrest warrant out for Roscoe in Sri Lanka but there is one for Swarna.
We are working on an arrest warrant in HK for all ex directors of TW HK.
The situation in Sri Lank with TWI –is fraught. The public company has not yet been put out of its misery – although it clearly should be as it is totally bankrupt. The info from SL is not encouraging and the estates have not been maintained and have been looted and are falling apart. The danger is there will be little of value except the land – assuming it has not been charged. The hope is that if the liquidators can get in sooner rather than later something can be salvaged – that is the plan if the company can ever be forced into bankruptcy.
Maloney is desperate to sell his forestry in Cambodia – according to one source he needs that money to stop his arrest warrant being issued in SL. If anybody is in Cambodia look for Maloney in a five star hotel. Any info would be good.
In Thailand we continue to work with our lawyers to look for the best strategy for legal action. Meatime a great deal depends upon whether Dragon continue to invest in TFC – I am told they are far from certain to keep going without clear evidence from TFC that there is truly a pot of gold (agar oil) at the end of the rainbow – it might be churlish to point to Dragon that it is our bloody oil! You might like to write to one or two of their directors and explain that: http://www.dragongp.com/corporateinfo.html
One or two people have asked what the chances of getting their money? I think at this stage I have to say not good.
If somebody can catch Maloney and drag him, with his pockets full of money, into the right court, that would help.
A money laundering investigation in HK and Thailand might help – that is a distinct possibility.
Legal action in Thailand might help – we are on that one but it has to be the right action by the right people – those of you who understand Thailand will know what I mean.
So in summary we might eventually get some of our investment back – if we are lucky. Getting the rarefied figures promised by Touchwood salesmen is now a dream. Although I do believe that if Maloney had been as good a businessman as he was a salesman; then certainly the guarantees could have been met.
You have to ask yourself what is the current TFC management promising the Dragon group for them to be so interested? And why is Arunee Tippila so keen to hang on - when all else is failing – is it just pride; or is it a pot of the said agar oil? The evidence is there is still considerable value in the Thai plantations – those plantations are owned by the tree investors (whatever their nationaility) – the moral case is indisputable - the legal case a lot more complicated.