Police Bust Foreign Nominee Ring on Koh Phangan, Seize 150M Baht Assets

MGR Online•Society•17d ago

Reader Briefing

Koh Phangan's nominee network used by foreigners to circumvent Thai ownership laws has been dismantled by police, resulting in numerous land deeds and arrests.

•Police on Koh Phangan have cracked down on a network of foreign nominees suspected of illegally holding company shares and property.
•37 land deeds, valued at over 150 million Baht, have been seized as part of the operation.
•Two individuals have been arrested, and arrest warrants have been issued for three more.
•Investigations are ongoing to trace financial flows and identify Thai individuals, law firms, and state officials potentially involved in aiding the illegal ownership.

Overview

•Police launched an operation on Koh Phangan to dismantle a foreign nominee network.
•The operation aimed to enforce legal compliance for foreigners operating businesses and holding property in Thailand, addressing issues of illegal ownership through nominees.
•Investigations identified 3,754 legal entities on Koh Phangan, with 2,381 found to have foreign shareholding.
•Authorities arrested two suspects and issued arrest warrants for three additional individuals involved in the nominee scheme.
•Police seized 37 land deeds, with an estimated value exceeding 150 million Baht, as part of the bust.
•Efforts are underway to expand the investigation into financial transactions and identify all involved parties, including Thai individuals, law firms, and state officials.
•The seized land deeds are tied to companies where foreigners allegedly used Thai nationals as nominees to circumvent ownership regulations.
•Police emphasized that foreigners can conduct business in Thailand but must adhere to legal frameworks, particularly regarding shareholding limits.

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Key Quotes

Pol. Lt. Gen. Trairong Phiewpan

"Following government and national police policy, foreigners entering Thailand for tourism or business must operate strictly in accordance with Thai law."

ตามนโยบายรัฐบาลและสำนักงานตำรวจแห่งชาติ ในการตรวจสอบชาวต่างชาติที่เข้ามาท่องเที่ยวหรือประกอบธุรกิจในประเทศไทย ให้ดำเนินการอย่างถูกต้องตามกฎหมายไทย

Pol. Lt. Gen. Trairong Phiewpan

"Foreigners can conduct business in Thailand if done within legal frameworks, such as shareholding not exceeding legal limits, but the problem found is the use of 'nominees'."

การที่ชาวต่างชาติเข้ามาทำธุรกิจในประเทศไทยสามารถทำได้ หากดำเนินการภายใต้กรอบกฎหมาย เช่น การถือหุ้นต้องไม่เกินสัดส่วนที่กฎหมายกำหนด แต่ปัญหาที่พบคือการใช้ “นอมินี”

Key Entities

Organization

Royal Thai Police(ตร.)ℹ️

The national law enforcement agency conducting operations against foreign nominee networks in Thailand.

Royal Thai Police Headquarters(สำนักงานตำรวจแห่งชาติ)

The central administrative body overseeing the police operations, including the crackdown on foreign nominees.

Place

Koh Phangan(เกาะพะงัน)ℹ️

An island in Thailand targeted by police for an operation against foreign nominee businesses and property ownership.

Person

Pol. Lt. Gen. Trairong Phiewpan(พล.ต.ท.ไตรรงค์ ผิวพรรณ)

Spokesperson for the Royal Thai Police who provided an update on the operation to bust foreign nominee networks.