In recent years, we have received inquiries about scams offering gold mining businesses and heavy equipment trading in Myanmar.
In order to prevent any possible damage, we would like to share information on scam tactics and the characteristics of scammers.
Main methods of scams
Under the guise of selling gold mining rights, the same mining property is “sold” to multiple people.
In reality, multiple Japanese people are led to believe that they are the owner of one mining property.
The system that does not allow Japanese to own mining claims in their own name is taken advantage of.
The company explains that “you can only own mining claims in the name of your local partner,” and receives funds without any written documentation or registration to back it up.
Scams disguised as sales of heavy equipment:
They falsely claim that rental equipment is “heavy equipment that has already been purchased” and convince multiple Japanese to believe that they are the “owner” of the same heavy equipment.
They will make you accompany them on site inspections and pretend that the rented mining sites and heavy equipment are “yours” in order to make you trust them.
Characteristics of scammers
According to information received from victims, scammers have the following characteristics.
・ Japanese male (late 40s) living in Tokyo
・ Speaks one-word English and one-word Chinese
・ Often stays at the Park Royal Hotel in Yangon during his stay in Myanmar
・ Frequents Japanese restaurants where Japanese people gather
Damage Prevention
Please be sure to check documents, registration and official certificates.
・ Confirm the title status of the same land or heavy machinery through a local lawyer/expert.
It is not enough to be accompanied by an inspector. Corroborating confirmation by a third party is necessary.
Please consult with us.
We provide consistent support from site inspection to confirmation of title and coordination with public agencies.
If you have any doubts or concerns, please consult with us before deciding to invest or purchase.
Let’s prevent damage before it happens by calmly confirming the supporting evidence.