Funds Flowed from Investors to Royal Siam Trust account to Gregory Pitt and his companies who control the White Sands Beach Co Ltd and the land asset. This has been confirmed by Blumenthal Richter Sumet law firm in Bangkok Thailand. Gregory Pitt and his Thai partners then registered the investor shareholders onto the Thai Registry.
In 2010 without ANY consultation or notification to the investor shareholders, the structure of investment of White Sands Beach was completely changed by Mr. Pitt (aka Somphong Leekaew) and he removed the names of each and every investor shareholder from the Thai corporate registry and replaced their names with companies that Greg Pitt controls. This is akin to having someone change the title of your home to their name, and it’s is a serious crime in Thailand if done without a shareholders consent. We certainly did not consent to having our names removed from the shareholders registry.
Since removing the names of the investor shareholders from the registry, Mr. Pitt (aka Somphong Leekaew) has ceased all communication with the investor shareholders and, essentially, taken control of their investments.