Over 1,000 detained in Thai nominee crackdown on foreign businesses

[webfact]

Picture courtesy of Wassayos Ngamkham

 

by Bright Choomanee

Police intensified their crackdown on the use of Thai nominees by foreign businesses, resulting in the detention of over 1,000 individuals over recent weeks. This sweeping operation was a joint effort by police and the Ministry of Commerce, targeting companies engaging in illicit business practices.

 

Investigations focused on 442 companies, collectively handling over 3.6 billion baht (US$105 million), across 46 locations nationwide. The Central Investigation Bureau’s (CIB) commissioner, Jirabhop Bhuridej, highlighted the scale of the operation, emphasising the collaboration with the Department of Business Development (DBD) within the Ministry of Commerce.

 

Among those detained were:

 

• 714 Thais
• 258 Chinese
• 21 Malaysians
• 4 Cambodians
• 4 Vietnamese
• 3 Britons
• 3 Germans
• 2 Japanese
• 2 Myanmar nationals
• 1 American
• 1 Singaporean
• 1 Kazakhstani

 

These individuals were implicated in businesses registered by Thais acting as proxies for foreign nationals, despite restrictions that reserve certain business activities for Thai citizens.

 

“The businesses involved held assets worth 254 million baht (US$7.4 million), and investigations revealed they employed law or accounting firms to manage their registrations,” explained Jirabhop. This elaborate setup was part of a broader scheme where some companies were merely fronts for laundering money, without engaging in legitimate business operations.

Further inquiries uncovered warehouses filled with goods, many of which were prohibited from import. Some businesses were linked to currency trading, adding another layer of complexity to the investigation.

 

Napintorn Srisanpang, Deputy Commerce Minister, noted the operation stemmed from an agreement between the police and the DBD to scrutinize Thai nominees. He called upon Thai citizens to act as proxies to cooperate with police, allowing them to be treated as witnesses.

 

Additionally, legal and accounting professionals found complicit in these activities will face scrutiny from their respective regulatory bodies, reported Bangkok Post.

 

“The use of Thai proxies not only undermines the economy but poses a significant threat to national security,” stated Deputy Police Chief Thatchai Pitaneelabutr. He stressed the severity of the issue, particularly when these firms are linked to call centre scams or drug trafficking networks.

 

Source: The Thaiger 

-- 2024-12-06

 

-- 2024-12-06

 

 

[JoePai]

Only 3 Brits ??

Come on team you can do better than that

[Tropicalevo]

So the scaremongers who that said foreign home owners will be sorry, were wrong.

As mentioned in the original articles, the authorities are after nominee businesses operating illegally.

[MalcolmB]

1 hour ago, JoePai said:

Only 3 Brits ??

Come on team you can do better than that

A lot of the bars that pimp out the girls have Brit “owners”.

I assume they have a Thai front person for the paperwork. And assume that they are not structured with a company? 
 

Thailand, the Land of Loopholes.

[JoePai]

1 hour ago, Tropicalevo said:

So the scaremongers who that said foreign home owners will be sorry, were wrong.

As mentioned in the original articles, the authorities are after nominee businesses operating illegally.

Err  foreign home owners with a company that have Thai nominees are businesses operating illegally !

[NemoH]

What is the American doing on that list 🤣🤣🤣 must be some ill advised dumb dude … 🤣🤣

[damo1967]

2 hours ago, Tropicalevo said:

So the scaremongers who that said foreign home owners will be sorry, were wrong.

As mentioned in the original articles, the authorities are after nominee businesses operating illegally.

what a stupid comment.....

[quake]

8 minutes ago, NemoH said:

What is the American doing on that list 🤣🤣🤣 must be some ill advised dumb dude … 🤣🤣

 

There have been many, in the past. 

[thairookie]

Why did the Email headlines pick up the 3 Britons ?

 

Why not "Chinese detained in Thai nominees crackdown on foreign businesses" since Chinese is represented by a much larger figure ?

[lordgrinz]

Looks like the Thai's and Chinese have a lot in common, and as usual, they believe laws don't apply to them.

[thairookie]

Can I invite the Ministry of Commerce to go after property agencies in Pattaya too ?

 

It's important that Russians are also represented.  Of course, their business cards will not show they are property agents.  They are employed as "marketing analyst". 😄

 

After they have analyzed the buyer they will collect a fee from the seller.

[topt]

2 minutes ago, thairookie said:

It's important that Russians are also represented.

Fairly amazing that they are not mentioned in the list - perhaps Phuket will be done separately.........

[NoDisplayName]

2 hours ago, Tropicalevo said:

So the scaremongers who that said foreign home owners will be sorry, were wrong.

As mentioned in the original articles, the authorities are after nominee businesses operating illegally.

 

What about the scaremongers last year who said the authorities would go after nominee businesses operating illegally.

 

Next year, when authorities do go after foreign home owners, the comment will be "so the scaremongers who said foreigners paying agents to bribe immigration officials were wrong...."

[Elkski]

Detention?  For how long?  What are the charges?  Or is this private brown bag time. 

[pookett]

Very odd headline spot lighting 3 Brits instead of over 700 money grabbing Thais, fully complicit and possibly/probably offering the service in the first place.

Let's not dwell on that one eh, damn falangs!

[ronster]

I'm guessing the Thai people are the nominees put in place by the lawyers , wonder how many lawyers and people working in land department etc were picked up 🤔

[No Forwarding Address]

45 minutes ago, quake said:

 

There have been many, in the past. 

Must have got out while the gitten was good...........sold their property on to someone else.

[MPXX]

3 hours ago, Tropicalevo said:

So the scaremongers who that said foreign home owners will be sorry, were wrong.

As mentioned in the original articles, the authorities are after nominee businesses operating illegally.

The homeowners are next... it seems that Thai government encourages Thai nominees to rat on foreigners (not only granting them immunity but for a financial gain as well) They are going after foreigners really...

[JamesPhuket10]

1 hour ago, JoePai said:

Err  foreign home owners with a company that have Thai nominees are businesses operating illegally !

 

Yes, they might be next as it seems they are after the small fish, the average assets of what has been seized is only £13,396 per cpompany, I suppose the large fish have got away with it.

 

As far as the dodgy Farang homeowners go it must be so easy to prove if they bought the house using a company with a 49% share and they live there then they will lose the lot. 

 

 

[chilli42]

2 hours ago, JoePai said:

Err  foreign home owners with a company that have Thai nominees are businesses operating illegally !

Yes, true these companies are breaking the law but mostly are not involved in activities that are illegal. I believe they mean that the authorities are after those businesses that are engaged in illegal activities.

[Kinok Farang]

1 hour ago, NemoH said:

What is the American doing on that list 🤣🤣🤣 must be some ill advised dumb dude … 🤣🤣

Taken for granted he's dumb,he's a Yank isn't he?

[Polaky]

I guess the Russian's are not corrupt then 😇

[norsurin]

The next is foreigner home owners.Wait and see.Nobody can feel safe anymore.

Im happy i only rent and that will continue rest of my life.

[hotchilli]

5 hours ago, webfact said:

Police intensified their crackdown on the use of Thai nominees by foreign businesses, resulting in the detention of over 1,000 individuals over recent weeks. This sweeping operation was a joint effort by police and the Ministry of Commerce, targeting companies engaging in illicit business practices.

One way to slow down investment.. opposite to what Thailand needs.

[Liverpool Lou]

2 hours ago, JoePai said:

Err  foreign home owners with a company that have Thai nominees are businesses operating illegally !

Er, as long as the company has legitimate Thai shareholders, not nominees, and is operating a business and was not incorporated for the sole purpose of providing a foreigner with land ownership.   "Nominee directors/shareholders" normally refers to shareholders who have no connection with the foreigner and never will have any dealings with him or the company.

[thairookie]

5 hours ago, webfact said:

“The businesses involved held assets worth 254 million baht (US$7.4 million), and investigations revealed they employed law or accounting firms to manage their registrations,” explained Jirabhop. This elaborate setup was part of a broader scheme where some companies were merely fronts for laundering money, without engaging in legitimate business operations.

 

Additionally, legal and accounting professionals found complicit in these activities will face scrutiny from their respective regulatory bodies, reported Bangkok Post.

 

So the Lawyer's Council of Thailand is going to spring into action and suspend the practicing licenses of their fellow members ?  

[JamesPhuket10]

28 minutes ago, norsurin said:

The next is foreigner home owners.Wait and see.Nobody can feel safe anymore.

Im happy i only rent and that will continue rest of my life.

 

I wish I could pay rent on a house and give all my money away to a Thai, it must take a lot of skill to be able to do that. 😃

[JamesPhuket10]

15 minutes ago, Liverpool Lou said:

Er, as long as the company has legitimate Thai shareholders, not nominees, and is operating a business and was not incorporated for the sole purpose of providing a foreigner with land ownership.   "Nominee directors/shareholders" normally refers to shareholders who have no connection with the foreigner and never will have any dealings with him or the company.

 

Very true, a friend of mine bought four houses as a miniresort around a swimming pool  in Phuket twenty five years ago and owns the properties/lamd through a business with the correct proportion of Than and farang shares and as they are rented out it is legitimate. 

[JamesPhuket10]

1 hour ago, topt said:

Fairly amazing that they are not mentioned in the list - perhaps Phuket will be done separately.........

 

I wonder where these millions of Russians who have taken over Phuket live, I have been here two years full time now and have visited for long holidays for the last 30 years and I have yet to see the swarms of Russians.

 

Of the three hundred houses on this secure gated estate I think there is one Russian family, you have to go out of your way to spot them.

 

Of course that is the opposite to what the media write about and for the simple minded readers to believe. 

 

99% of the houses in my estate are owned and occupied by Thais.

[Liverpool Lou]

1 hour ago, pookett said:

Very odd headline spot lighting 3 Brits instead of over 700 money grabbing Thais, fully complicit and possibly/probably offering the service in the first place.

Let's not dwell on that one eh, damn falangs!

"Very odd headline spot lighting 3 Brits instead of over 700 money grabbing Thais..."

Do you not think the fact that this is a foreigner-oriented forum, not a Thai forum, may have a lot to do with that?