Richard Cayne: FSA

Suspension of Business Activities

Here's something interesting from our friends at Financial Services Agency (Japan). Check it out:

https://www.fsa.go.jp/sesc/news/c_2020/2020/20201110-1.htm

https://www.fsa.go.jp/sesc/message/20210125-1.htm

It looks like yet another business associated with Asia Wealth Group Holdings / Meyer Asset Management / Meyer International (Richard Cayne) has been ordered to suspend its business activities.

Again? Didn't this happen before (yes, it did - back in 2010)? Doesn't really inspire confidence, now does it? 

Richard Cayne is really making a name for himself at the Financial Services Agency! At this rate, he'll have a Gold Card with them soon!

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White Sands Beach Info

This is the latest entry on Richard Cayne's whitesandsandsbeach.info website:

Richard Cayne is clearly a legitimate business man who has nothing to hide unlike many others around the WSB case. To back that up we note that Cayne has 10 years of audited financial statements posted online on his website and stock exchange for the general public to see with full transparency. Audited by Baker Tilly the 10th largest accounting firm in the world. This doesn’t sound like someone wishing to hide nor does he and those who wish to contact him can do so easily at Meyer International Ltd to seek any clarification on the WSB matter.

It is indeed true that financial statements concerning Asia Wealth Group Holdings can be accessed online (https://uk.finance.yahoo.com/news/asia-wealth-group-holdings-ltd-060000149.html),

however, there has never been a shred of useful information concerning Royal Siam Trust or White Sands Beach posted. 

Let's go back and reconsider what we already know:

1) Investors were sold a land investment in Thailand ("White Sands Beach") through a company called "Royal Siam Trust Company." 

2) According to the old RST Company website, the company was working on four separate projects: White Sands Beach Project, Millennium Project, Horizon Development, and Valley View Project. I can only conclude that these other "projects" were entirely fictitious. 

3) According to the old website "White Sands Beach" was one of four projects under the umbrella of the Royal Siam Trust Company.

4) Investors sent their money to a Royal Siam Trust "planning fund" at Standard Chartered Bank in Hong Kong (account number 368-107-6186-2). 

5) One share in White Sands Beach Company - note that the "project" somehow morphed into a separate company - is listed at 100 Thai Baht.

6) "Units" in Royal Siam Trust Company were sold at US $13,500 - $23,000 each.

7) The directors of Royal Siam Trust Company are Richard Cayne and Gregory Pitt. 

What happened to the planning fund?!?

"Progress" on Royal Siam Trust?

Here is something I came across recently on Richard Cayne's whitesandsbeach.info website:

July 2020 UPDATE- We have verified through our independent lawyers in Bangkok that the investor group Richard Cayne represents is making progress. Perhaps a milestone victory has been achieved as during last month court hearing the judge reaffirmed the order that the group Richard Cayne represents (being original investors) should ALL be reinstated on the shareholder list. We are keen to hear on next update from Richard Cayne when the restructuring may take place so that we may all get back our fair share. Good job Richard and look forward to getting it restructured.

A "milestone victory?" Hardly! It really doesn't matter if investors' names are reinstated on the shareholder list because one (1) share in White Sands Beach Company is worth 100 Thai Baht. How much is 100 Thai Baht worth? Let's have a look-see...it's worth just over US $3. Don't spend it all in one place! 

One share in White Sands Beach is worth three bucks but Richard Cayne was marketing "units" in Royal Siam Trust for more than US $15,000 each. Where did that money go and why hasn't Richard Cayne produced a single bank document that shows what happened to the "planning fund" that investors put their money into? Very suspicious!

Does Richard Cayne really believe that Royal Siam Trust investors will be satisfied with this type of "progress?" I am not the least bit interested in having anything to do with a piece of property in Trat, Thailand and would prefer to recover my swindled funds. THAT would be a milestone victory. 

Japanese RST investors should find this interesting

Here is something about RST that was written back in 2006.

http://otsu.seesaa.net/article/15658158.html

The analysis is well-thought-out indeed. The person who wrote this was able to correctly deduce that Royal Siam Trust was a scam investment and had enough sense to stay away.

All I can say is that I wish I had come across this sooner.

An Update on the Royal Siam Trust Scam

RST money recovered by Richard Cayne: $ 0. 00

RST land recovered by Richard Cayne: 0.00 m²

Location of Gregory Pitt: unknown


Quite the success story, eh? A perfect score!

I took the liberty of going to the Interpol website and checking out their "Red Notices (for wanted fugitives)" and did a search using the names "Greg Pitt," "Gregory Pitt," and "Somphong Leekaew."

Nothing! Absolutely nothing! I guess Gregory Pitt doesn't need to worry about the long arm of the law anytime soon. Furthermore, it is a well-known fact that people with money and connections are able to buy their way out of trouble in Thailand. In all likelihood, Pitt will succumb to his health problems long before he sees the inside of any Thai prison cell and that suits me just fine. Good riddance to bad rubbish!

Richard Cayne has accomplished nothing at all on behalf of his investors or "claimants" as he likes to call them and no doubt he and his supporters will angrily retort "at least he's trying." And to that my answer is "So what? Who cares?"

Sorry to say, but we live in a world where results are everything and effort counts for very little. Participation trophies are for preschool children and no one has ever been awarded a Nobel Prize in "Attempted Chemistry."

"At least he's trying." That's pretty cold comfort for investors who have seen their life savings or children's education funds wiped out because of this land-banking "opportunity" marketed by Richard Cayne.

If and when this situation changes, I will post further updates. I wouldn't hold my breath though.

More about me - who I am and who I am not

The following is from the whitesandsbeach.info website:

So now Richard Cayne believes that “Daniel Kennedy” and “Paul Boucher” are the same people? Nothing could be further from the truth!

I am who I say I am – Paul Boucher. I invested in Royal Siam Trust in 2007 (thanks to Richard Cayne and his terrible investment “advice”). I can post a copy of my worthless RST share certificate if that helps.

I have posted and shall continue to post comments online about Richard Cayne as a warning to others and to express my dissatisfaction with his business and Royal Siam Trust. I have no interest whatsoever in defending his former business partner, Gregory Pitt, and certainly have nothing to gain from helping him. I have never had any contact with Pitt but he seems to be another thoroughly loathsome individual.

Richard Cayne seems to have this unhealthy obsession with this Daniel Kennedy and I really don't know what to make of it. Since it really has nothing to do with me regardless, I will leave it at that.

I am still waiting for Cayne to give his version of events about Royal Siam Trust. More specifically, I want him to explain how the information he provided to his clients could be so inaccurate. Was he being dishonest or merely incompetent? I can't think of any other explanation for this.

Anyone who wishes to contact me is welcome to drop me a line at duddykravitz1959@yahoo.com and I will be more than happy to answer any questions you may have. All I ask is that you keep it clean and be civil. I will not respond to insults, profanity, or any other childish behaviour.

Have a great day, wherever you are.

Paul (not Daniel)