Yeah, closed due to the fact that he ripped off almost everyone he could delude or get his hands on, then ran out of money, a slippery character for sure. Just ask the Scotsman about the missing million baht (or 750,000 depending on who you talk to) to sell beer Lao here or the guys that invested in the "Cheese making business" (ironic in a way that title is). The Scotsman was just the last in a very long line and there are many that would "Like to have a word." However, like all the best con-men everywhere he picked his targets carefully and befriended them all, only to do a Houdini when the time was right, many learnt lessons from that.
Goes to show that the old saying "Only spend here what you can afford to throw up into the air in the street and walk away from" is very true. The Scotsman ended up teaching English to make ends meet after that. I felt sorry for him but we are all architects of our own situation, he was old enough to have known better than to put that much trust in someone you met in Thailand, especially when it is regarding money. Money has a nasty habit of disappearing here in a puff of smoke, beware all, the story I told above is legendy here, as most will be aware.
Sneaky Arab! But a sucker born every minute, especially here, greed got the better of them all.