MEETING someone who has lost most of their life savings in an investment that has gone wrong is heart-wrenching. Their pain and helplessness is overwhelming, especially in the case of those in the evening of their life when they should be looking forward to a financially secure retirement. How, you wonder, will they survive without the funds to support even a very modest existence? For them, of course, it is a fearful prospect.
When you discover their money has gone through no fault of their own, apart from being overly trusting and optimistic, but through the greed and criminality of others, your ire grows.
This is the scenario facing a growing number of expat investors here in Thailand who have handed over their hard-earned savings to people claiming to be financial experts but whose only real goal is to extract maximum commission for setting up the deal.
Most investors know there are risks involved in putting their money in a business. If their luck holds, they might enjoy a healthy return. If not, their investment will be worth somewhat less than their original stake. Either way they have the choice to cash in, or stay in.
When you discover their money has gone through no fault of their own, apart from being overly trusting and optimistic, but through the greed and criminality of others, your ire grows.
This is the scenario facing a growing number of expat investors here in Thailand who have handed over their hard-earned savings to people claiming to be financial experts but whose only real goal is to extract maximum commission for setting up the deal.
Most investors know there are risks involved in putting their money in a business. If their luck holds, they might enjoy a healthy return. If not, their investment will be worth somewhat less than their original stake. Either way they have the choice to cash in, or stay in.