Over 230 Arrested in Phuket Nominee Crackdown
The Economic Crime Suppression Division of the Royal Thai Police has arrested more than 230 individuals in a major crackdown on a Thai nominee network that illegally assisted foreigners, primarily Russians, in establishing real estate companies. Authorities seized bank accounts, land documents, and other assets linked to these activities. The main suspect, a 45-year-old Russian woman, was involved as a director and shareholder in nine companies. The investigation linked 272 companies to this network, including 130 nominee companies in real estate, tourism, and services sectors. Police have arrested and prosecuted 231 people, including foreigners conducting unauthorized business and Thai nationals acting as agents.
The Economic Crime Suppression Division (ECSD) of the Royal Thai Police has arrested more than 230 individuals in a major crackdown on a Thai nominee network that illegally assisted foreigners, primarily Russians, in establishing real estate companies.
The operation, focused on Phuket, revealed over 1 billion baht in circulation through these illicit activities.
Authorities seized 225 bank accounts with over 300 million baht, 245 land documents, including those for 196 condominium units valued at around 1 billion baht, documents for setting up 800 companies, 1,601 company stamps, and nine other assets.
The main suspect, a 45-year-old Russian woman named Iana, was involved as a director and shareholder in nine companies, including seven real estate firms, one service company, and one travel company.
An accounting firm in Phuket facilitated the establishment of these companies, using staff and their relatives as nominees to circumvent legal restrictions.
The investigation linked 272 companies to this network, including 130 nominee companies operating in real estate, tourism, and services sectors with a total registered capital of 679 million baht.
Police have arrested and prosecuted 231 people, including 96 legal entities and 135 individuals, among them 98 foreigners conducting unauthorized business and 37 Thai nationals acting as agents.
The accused face imprisonment and fines.
The operation, focused on Phuket, revealed over 1 billion baht in circulation through these illicit activities.
Authorities seized 225 bank accounts with over 300 million baht, 245 land documents, including those for 196 condominium units valued at around 1 billion baht, documents for setting up 800 companies, 1,601 company stamps, and nine other assets.
The main suspect, a 45-year-old Russian woman named Iana, was involved as a director and shareholder in nine companies, including seven real estate firms, one service company, and one travel company.
An accounting firm in Phuket facilitated the establishment of these companies, using staff and their relatives as nominees to circumvent legal restrictions.
The investigation linked 272 companies to this network, including 130 nominee companies operating in real estate, tourism, and services sectors with a total registered capital of 679 million baht.
Police have arrested and prosecuted 231 people, including 96 legal entities and 135 individuals, among them 98 foreigners conducting unauthorized business and 37 Thai nationals acting as agents.
The accused face imprisonment and fines.