Phangan Front Companies Exposed: 27 Firms, 2 Arrests, 150M Baht Land Seized

Matichon•General•16d ago

Reader Briefing

Authorities have cracked down on foreign-owned front companies in Koh Phangan, seizing 37 land deeds worth 150 million baht and arresting two Thai individuals for acting as nominees.

•Authorities in Koh Phangan, Surat Thani, launched an operation targeting foreign-owned businesses using Thai nominees.
•27 suspected front companies were identified, leading to the seizure of 37 land deeds valued at 150 million baht.
•Two Thai nationals were arrested for illegally holding shares on behalf of foreigners.

Overview

•On May 13, Deputy Commissioner-General of Police Kitrat Phetch arrived at Koh Phangan, Surat Thani to lead an operation targeting foreign nominees.
•27 suspect companies were searched, resulting in the seizure of 37 land deeds worth 150 million Baht.
•Three arrest warrants were issued for individuals involved in nominee schemes; two Thai nationals were apprehended.
•The seized land deeds represent 51 rai and 2 ngan, with a total value of 150 million Baht.
•The operation identified 3,754 juristic persons on Koh Phangan, with 2,381 having foreign shareholding.
•The crackdown is due to foreign nationals operating businesses using Thai nominees, which is illegal.
•Further investigation into all identified nominee cases is being expedited.
•An investigative committee will be formed by Provincial Police Region 8 to gather evidence and report on the cases, including any involvement of state officials.

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Key Entities

Law

Front Companies(บริษัทนอมินี)

Companies used by foreigners to circumvent Thai ownership laws.

Place

Koh Phangan(เกาะพะงัน)ℹ️

District in Surat Thani Province where the operation against nominee companies took place.

Person

Police General Kitrat Phetch(พล.ต.อ.กิตติ์รัฐ พันธุ์เพ็ชร์)

Commissioner-General of Police who delegated the operation.

Police General Samran Nuam-ard(พล.ต.อ.สำราญ นวลมา)

Deputy Commissioner-General of Police (Security) and Director of the National Police Agency's Center for Combating Cross-border Crime and Illegal Immigration, leading the operation.

Anutin Charnvirakul(นายอนุทิน ชาญวีรกูล)ℹ️

Prime Minister and Minister of Interior who provided directives for the investigation.

Organization

Royal Thai Police(สำนักงานตำรวจแห่งชาติ)ℹ️

The national police agency conducting the operation against nominee companies.

Center for Combating Cross-border Crime and Illegal Immigration (Royal Thai Police)(ศปชก.ตร.)

A center within the Royal Thai Police tasked with combating cross-border crime and illegal immigration, involved in the operation.

Provincial Police Region 8(ตำรวจภูธรภาค 8)

A regional police command responsible for overseeing investigations in the specified area.