Israeli Expat and Businessman Dan Goldshtien Arrested After Failing to Repay $1.3M Loan from Acleda Bank in Cambodia

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eriksank
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Israeli Expat and Businessman Dan Goldshtien Arrested After Failing to Repay $1.3M Loan from Acleda Bank in Cambodia

Post by eriksank » Mon May 01, 2017 7:26 pm

| Israeli Businessman Dan Goldshtien Arrested After Failing to Repay Loan, by Ouch Sony | May 1, 2017

Image

An Israeli man was arrested on Thursday after Acleda Bank filed a complaint against him for failing to repay $1.3 million worth of loans, police and the bank said on Sunday.
Phnom Penh Municipal Court deputy prosecutor Khieu Phalla said on Sunday afternoon that he was still questioning the suspect, who had not yet been charged.


Nowhere in the article, the prosecution claim that the man committed fraud, and therefore that it would be a criminal case. Not paying or not being able to pay your loan, is a civil matter.

Ms. Bunseyha said Mr. Goldshtien had failed to make repayments eight times since June 2015. Acleda filed the complaint against him earlier this year, she said. He always asked for a delay and did not settle, she said. His business is still running, but he did not settle back to the bank.

Failing to make repayments is not a criminal issue in itself. His company may simply not have the cashflow to make repayments. It looks like they are trying to throw him in Debtors' Prison: Increasing access and lenience throughout the history of bankruptcy law have made prison terms for unaggravated indigence illegal over most of the world.

We want him to respect Cambodian law and we don’t want foreigners…to violate the law in our country, she added.

What ACLEDA says there is ridiculous. If the man is not capable of paying -- he could claim this -- then he simply won't pay. If he is unable to pay, where is the fraud or other criminal offense? Why doesn't ACLEDA commence bankruptcy proceedings, in order to liquidate his assets, instead of sending the police to the debtor?
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Re: Israeli Expat and Businessman Dan Goldshtien Arrested After Failing to Repay $1.3M Loan from Acleda Bank in Cambodia

Post by General Mackevili » Wed May 03, 2017 9:58 pm

Added his smiling face to your post. :thumb:
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Re: Israeli Expat and Businessman Dan Goldshtien Arrested After Failing to Repay $1.3M Loan from Acleda Bank in Cambodia

Post by juansweetpotato » Wed May 03, 2017 10:09 pm

Could it be a case of bad harvest due to 2 years drought? If so, I doubt if he is the only one looking at losing his land due to loan arrears.
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Re: Israeli Expat and Businessman Dan Goldshtien Arrested After Failing to Repay $1.3M Loan from Acleda Bank in Cambodia

Post by Cory Crimson » Sun May 07, 2017 12:43 pm

eriksank wrote: | Israeli Businessman Dan Goldshtien Arrested After Failing to Repay Loan, by Ouch Sony | May 1, 2017

Image

An Israeli man was arrested on Thursday after Acleda Bank filed a complaint against him for failing to repay $1.3 million worth of loans, police and the bank said on Sunday.
Phnom Penh Municipal Court deputy prosecutor Khieu Phalla said on Sunday afternoon that he was still questioning the suspect, who had not yet been charged.


Nowhere in the article, the prosecution claim that the man committed fraud, and therefore that it would be a criminal case. Not paying or not being able to pay your loan, is a civil matter.

Ms. Bunseyha said Mr. Goldshtien had failed to make repayments eight times since June 2015. Acleda filed the complaint against him earlier this year, she said. He always asked for a delay and did not settle, she said. His business is still running, but he did not settle back to the bank.

Failing to make repayments is not a criminal issue in itself. His company may simply not have the cashflow to make repayments. It looks like they are trying to throw him in Debtors' Prison: Increasing access and lenience throughout the history of bankruptcy law have made prison terms for unaggravated indigence illegal over most of the world.

We want him to respect Cambodian law and we don’t want foreigners…to violate the law in our country, she added.

What ACLEDA says there is ridiculous. If the man is not capable of paying -- he could claim this -- then he simply won't pay. If he is unable to pay, where is the fraud or other criminal offense? Why doesn't ACLEDA commence bankruptcy proceedings, in order to liquidate his assets, instead of sending the police to the debtor?
Dear eriksank,

Although I'm new to this forum, I'm no stranger to crooked Cambodian judicial system. I was very pleased to read your insight on this matter since it sounds like you have a clear understanding of his situation even though you don't have the details in front of you except for a one sided and unbalanced side of the story written in a very bias manner by a news paper which I thought was an ethical one who took investigative journalism more seriously.
I expected that from outlets like Fresh News but not from the Cambodian Daily, what a shame...
I actually worked for the guy and I can honestly testify that Mr. Goldshtein would never harm a single fly! The sole purpose of C3 Limited (the company in question) is to empower the struggling Cambodian Cassava farmers' sector which has been in rapid declined in the past three years, through fare trade, implementation of modern technology and securing fixed prices in a market that offers non of the above, something that the government of cambodia has failed to do time and time again (the same government who to begin with introduced this non native crop to the Cambodian farmers).
not only did the government abandoned these farmers once market prices started dropping significantly, but they had also failed to come up with alternative solutions to this incresingly dire situation.
By putting him in debtors prison, they are sending a very clear message to all foreign investors that cambodia does not abide by international trade norms which would eventually deter such investors from setting foot in the country let alone feel safe to invest a single dollar.
The bank and the country stand to gain absolutely nothing as long as he's rotting in prison, such a wreckless and irrisponsible action on there behalf would only have negative impact on this country and further deepens the export gap the country is working so hard to bridge between cambodia and western markets.
I know of at least two different foreign investment funds who up until last Thursday were at the final stages of an ongoing nagosiation to invest in his company with already signed contracts and proof of raised funding for the next three years, one of which has already U-turned and the second one would most likely follow suit.
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Re: Israeli Expat and Businessman Dan Goldshtien Arrested After Failing to Repay $1.3M Loan from Acleda Bank in Cambodia

Post by General Mackevili » Sun May 07, 2017 4:15 pm

Cory Crimson wrote:
eriksank wrote: | Israeli Businessman Dan Goldshtien Arrested After Failing to Repay Loan, by Ouch Sony | May 1, 2017

Image

An Israeli man was arrested on Thursday after Acleda Bank filed a complaint against him for failing to repay $1.3 million worth of loans, police and the bank said on Sunday.
Phnom Penh Municipal Court deputy prosecutor Khieu Phalla said on Sunday afternoon that he was still questioning the suspect, who had not yet been charged.


Nowhere in the article, the prosecution claim that the man committed fraud, and therefore that it would be a criminal case. Not paying or not being able to pay your loan, is a civil matter.

Ms. Bunseyha said Mr. Goldshtien had failed to make repayments eight times since June 2015. Acleda filed the complaint against him earlier this year, she said. He always asked for a delay and did not settle, she said. His business is still running, but he did not settle back to the bank.

Failing to make repayments is not a criminal issue in itself. His company may simply not have the cashflow to make repayments. It looks like they are trying to throw him in Debtors' Prison: Increasing access and lenience throughout the history of bankruptcy law have made prison terms for unaggravated indigence illegal over most of the world.

We want him to respect Cambodian law and we don’t want foreigners…to violate the law in our country, she added.

What ACLEDA says there is ridiculous. If the man is not capable of paying -- he could claim this -- then he simply won't pay. If he is unable to pay, where is the fraud or other criminal offense? Why doesn't ACLEDA commence bankruptcy proceedings, in order to liquidate his assets, instead of sending the police to the debtor?
Dear eriksank,

Although I'm new to this forum, I'm no stranger to crooked Cambodian judicial system. I was very pleased to read your insight on this matter since it sounds like you have a clear understanding of his situation even though you don't have the details in front of you except for a one sided and unbalanced side of the story written in a very bias manner by a news paper which I thought was an ethical one who took investigative journalism more seriously.
I expected that from outlets like Fresh News but not from the Cambodian Daily, what a shame...
I actually worked for the guy and I can honestly testify that Mr. Goldshtein would never harm a single fly! The sole purpose of C3 Limited (the company in question) is to empower the struggling Cambodian Cassava farmers' sector which has been in rapid declined in the past three years, through fare trade, implementation of modern technology and securing fixed prices in a market that offers non of the above, something that the government of cambodia has failed to do time and time again (the same government who to begin with introduced this non native crop to the Cambodian farmers).
not only did the government abandoned these farmers once market prices started dropping significantly, but they had also failed to come up with alternative solutions to this incresingly dire situation.
By putting him in debtors prison, they are sending a very clear message to all foreign investors that cambodia does not abide by international trade norms which would eventually deter such investors from setting foot in the country let alone feel safe to invest a single dollar.
The bank and the country stand to gain absolutely nothing as long as he's rotting in prison, such a wreckless and irrisponsible action on there behalf would only have negative impact on this country and further deepens the export gap the country is working so hard to bridge between cambodia and western markets.
I know of at least two different foreign investment funds who up until last Thursday were at the final stages of an ongoing nagosiation to invest in his company with already signed contracts and proof of raised funding for the next three years, one of which has already U-turned and the second one would most likely follow suit.
Is he sorting out a resolution, or does it look like he will simply rot away in Prey Sar Prison?
"Life is too important to take seriously."

"Life does not cease to be funny when people die any more than it ceases to be serious when people laugh."

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Re: Israeli Expat and Businessman Dan Goldshtien Arrested After Failing to Repay $1.3M Loan from Acleda Bank in Cambodia

Post by console » Tue Aug 21, 2018 11:15 am

Silly goyim will you ever learn...
More khazarians giving real jews a bad name.
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