Chiang Mai raids target alleged foreign nominee firms

Thai police have searched 18 locations across Chiang Mai in an operation targeting alleged foreign nominee company networks connected with land holdings valued at about 633 million baht.

More than 250 officers and officials joined the 20 July operation, known as "Dismantling Foreign Nominee Networks, Phase 5", which covered 31 cases and led to arrest warrants for 22 people.

Companies and land under scrutiny

Deputy national police chief Pol Gen Samran Nuanma ordered the operation, led by Pol Lt Gen Noppasin Poolsawat and Pol Lt Gen Kritthapol Yeesakhon. Police from Provincial Police Region 5 and Chiang Mai investigation units were joined by the Chiang Mai governor's office, the Department of Business Development and the Land Department.

Authorities said they examined more than 33,144 registered companies in Chiang Mai. Of these, 4,741 had foreign shareholders and 1,591 were initially considered possible nominee arrangements.

After screening, officials selected 31 companies for action: 16 suspected of using Thai shareholders to hold shares on behalf of foreigners, and 15 said to have foreign ownership above the legal limit while holding land. The firms were linked to 29 land plots covering more than 20 rai, with an estimated value of 633 million baht.

Warrants were issued for two Thai nationals, seven Myanmar nationals, three Indians, one British national and nine Chinese nationals. Five suspects were arrested: two Indians and three Myanmar nationals.

Saraphi housing estate examined

One case involved Village K.12 in Moo 8, Chai Sathan subdistrict, Saraphi district. Police said four companies in the development were suspected of using Thai nominees. The registered companies were identified by authorities as Cheng, Smart, Go and Man.

In the cases involving Cheng and Smart, a Thai man identified only as Mr R was listed as a shareholder in seven companies and an authorised director in one, despite being held at Chiang Mai Central Prison since 25 November 2021. He is due for release on 23 February 2037.

Pictures courtesy of ThaiRath

Police said the companies were registered after his imprisonment, raising questions over whether he could genuinely manage or operate them. Mr R reportedly told investigators that a former inmate had invited him to invest and requested his ID card and house registration documents for company registration. He said he had received no return and denied knowing he had been named in several other companies.

A Thai shareholder listed for Go, Mr S, told police he did not know he was a shareholder and had never seen financial or shareholding documents. He said he had sent a photograph of his ID card to a property broker and was paid 7,000 baht in cash each time to sign documents at the Land Department and take part in property transactions.

A woman listed as a shareholder for Man said a foreign employer, who had hired her as a maid, requested copies of her ID card and house registration, saying they were for social security and salary arrangements. She said the company later closed and she could no longer contact the employer.

Pol Gen Samran said action had been taken against relevant shareholders and directors, with investigators pursuing organisers, supporters and the true beneficiaries.

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20 July 2026