Swede charged in Thailand condo scam

A 70 year old Swede was on Friday 14th September, 2012, charged for aggravated fraud in Borås District Court, Sweden. The man is suspected of having embezzled investors who invested in condominiums in Thailand.

According to the charges, the Swede allegedly deceived 8 persons into believing that the apartments were financed and construction permits obtained. However, the condominiums were never built and the investors lost more than one million Swedish kroners.

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