11 foreigners arrested in crackdown on $179M of Bangkok luxury homes held in Thai names
Thai police raided four luxury housing estates in Bangkok on Oct. 10, targeting 94 homes worth more than 6 billion baht (YS$179 million) allegedly held for foreigners through Thai nominees.
Thai police arrested 11 individuals, comprising 10 Chinese nationals and one American, during a crackdown on luxury homes held under Thai names, according to Royal Thai Police chief Samran Nuanma. The operation, the eighth phase of a broader campaign, involved more than 100 officers searching 17 locations across Bangkok. The suspects are accused of holding 94 properties, totaling more than 33 hectares of land, through 95 companies allegedly set up with Thai nominees.
The investigation began with information from the Chinese embassy regarding three suspects wanted in China, with the first suspect, identified as Chao, wanted for a murder in Inner Mongolia. Police alleged that Chao entered Thailand via Cambodia in 2017 and has links to online gambling operations in Myanmar. Two other suspects, Gui and Jian, were arrested under warrants and are wanted for fraud and online fraud in China and Henan Province, respectively.
Police identified 156 Thai nationals who may have unknowingly acted as nominees, with several learning of their involvement in companies worth 400 million baht. Some of the foreign suspects are reportedly using Thailand as a refuge to hold assets, while others have fled the country. The previous seven phases of the operation covered 297 companies and 309 plots of land worth approximately 3 billion baht, resulting in 238 arrest warrants and 118 arrests.
Police are coordinating with Chinese authorities and plan to extend the investigation to other luxury developments in the city.
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