Police Dismantle Chinese Nominee Property Scheme Worth Over 1 Billion Baht
Police dismantled a scheme using 33 shell companies and Thai nominees to illegally sell over 1.27 billion baht in luxury homes to Chinese nationals in Bangkok and nearby areas. A Chinese investor controlled the operation while Thai national
Police announced on July 22 the dismantling of a nominee property scheme involving 33 shell companies controlling 33 luxury homes worth over 1.27 billion baht. The operation was led by Lt. Gen. Natthasak Chaovanasai and other senior officers from the National Police Bureau's Anti-Corruption Division, following complaints from residents and data from the Department of Business Development (DBD) about large numbers of Chinese nationals residing in luxury villages in the Pattanakarn and Bangkok Kreet areas.
Investigation revealed that Piyanucha and her mother Sakorn served as nominees—listed as shareholders and directors—while actual control rested with Chinese national Hao Deng, who provided all capital. The network operated in three ways: purchasing two homes through nominee companies before transferring ownership to Chinese buyers; purchasing three homes and changing shareholding structure upon sale; and purchasing 28 homes through nominee firms for rent or resale via Chinese agencies. Officers seized land title deeds, sales contracts, 15 foreign passports, documents, company stamps, and approximately 1.4 million baht in Thai and foreign currency. Thirty pre-signed share transfer documents were also found, indicating the Thai nationals were merely lending their names.
Preliminary charges have been filed under the Foreign Business Act for using Thai nominees and violations of land law. Investigation continues into all Thai and foreign individuals involved, with results to be forwarded to the Land Department for asset forfeiture proceedings.