See Richard Cayne Video on WSB as he explains what happened;
Total and complete control of White Sands Beach rests with its Gregory J. Pitt (aka Somphong Leekaew) who is CEO and Managing Director of White Sands Beach Company. Mr. Pitt, (aka Somphong Leekaew) is a caucasian, citizen of the United Kingdom,although residing in Bangkok (or sometimes Pattaya Thailand) is NOT a citizen of Thailand, nor Asian, but we have learned that he changed his name to a Thai sounding name: Somphong Leekaew. WHY is he changing his identity?
In addition to CEO and Managing Director of White Sands Beach, Mr. Pitt, (aka Somphong Leekaew) is also Managing Director of a law firm he calls Mackenzie Smith Law. Mr. Pitt, however, is not an attorney. We do not believe that he graduated from any college or university.
Mackenzie Smith Law firm issued legal opinion on the financial health and standing of Royal Siam Trust and was ALSO the law firm of White Sands Beach. Gregory Pitt was Managing Director of White Sands Beach, Mackenzie Smith Law AND of Royal Siam Trust companies. Mackenzie Smith law issued lagal opinions to investors, Royal Siam Trust collected investment funds and such funds flowed to White Sands Beach. From our point of view, Gregory Pitt is the White Sands Beach project and we have nothing to show for our investment.
Simply put: Gregory Pitt (aka Somphong Leekaew) controls every aspect of the management, funds, legal actions and direction of White Sands Beach. No one else has any control over the company’s assets except Mr. Pitt (aka Somphong Leekaew). This is an irrefutable act and we as investors view the attacks and finger pointing at Richard Cayne on the Internet as a waste of time and likely a plot to take attention away from Greg Pitt.