Precedent in boiler room case: Plaintiffs get 30% of B33m in 'investments'.

From: Bangkok Post (Bangkok, Thailand) | Date: March 14, 2005 | Copyright information

Byline: Krissana Parnsoonthorn

Mar. 14--In a precedent for the Thai legal system, a group of 12 Australian investors has successfully reclaimed 11.7 million baht in funds from an illegal securities "boiler room".

The payment by the Civil Court was made last month and follows a nearly three-year court battle against International Asset Management (IAM), a company first raided by local securities regulators in 2001. The payments are the first to be made to investors involving a boiler room operation in Thailand.

While the repayment represents only 30 percent of the ...

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