Richard Cayne is a terrible, incompetent investment advisor! He recommended that I put money in a Thailand land banking project called Royal Siam Trust. The information that he gave me was false and the investment turned out to be a scam. I lost a lot of money because of his terrible advice and carelessness.
The information provided by Richard Cayne about Royal Siam Trust was wrong! According to the Royal Siam Trust website, ”With over US$500 million of land under management, Royal Siam Trust has a history dating back to 1955 as being one of the most prestigious land managers in the Kingdom.” Not so! Royal Siam Trust was set up in 2004.
The FAQ page on the old website also stated that ”If individual owners wish to sell prior to the group selling to a developer or entering into a Joint Venture with a developer, owners will be free to sell to anyone they wish in the same manner to which they bought (subject to approval by Royal Siam). Royal Siam will also be happy to offer assistance in finding a buyer as we have many clients who are keen to purchase prime Land (sic).” These claims were also false. When I asked Richard Cayne about selling my ”units” in Royal Siam Trust, he replied that ”the current situation is that Royal Siam have stopped doing international sales anymore and WSB is closed to new business. As such WSB is not able to offer any resale at present and investors will have to wait for the primary exit strategy which has always been when a developer comes in to buy the whole project then all shareholders will get their pro rata return.”
Richard Cayne gave me inaccurate information and caused me to lose a lot of money that could have been invested elsewhere. I can’t recommend that anyone do business with Richard Cayne, Meyer Asset Management, or Meyer International.