Police Crack Down on 15 Chinese-Backed Firms Using Thai Nominees

[Georgealbert]

 

Picture courtesy of CIB

 

Authorities have launched a major operation against 15 businesses allegedly acting as front companies for Chinese investors, arresting 71 people in connection with the scheme. The crackdown, led by the Central Investigation Bureau (CIB) and the Economic Crime Suppression Division (ECD), uncovered widespread illegal foreign business operations using Thai nominees.

 

Police carried out raids at two locations: an accounting firm in Samut Prakan province and a luxury housing estate near Suvarnabhumi Airport. The investigation resulted in legal action against:

 

• 15 corporate entities

• 21 Chinese nationals

• 51 Thai nationals

 

All face charges under the Foreign Business Act B.E. 2542 (1999) for facilitating foreign control of businesses reserved for Thai citizens.

The operation, codenamed “CIB Game On”, was initially launched to dismantle Chinese criminal networks in Thailand. It followed the arrest of a Chinese national, Mr. Li, who was wanted under a Red Notice for embezzling approximately 14 billion baht from Chinese victims. Mr. Li had fled to Thailand and set up Anjia International Co., Ltd., a fraudulent firm that lured Chinese clients by falsely promising Thai visas and national ID cards.

 

Further investigations revealed that Mr. Li’s company used Thai nominees to register businesses on behalf of Chinese nationals. The firm had no real operational premises and was part of a broader scheme involving an accounting company in Samut Prakan, which handled financial reports and corporate registrations.

 

The mastermind behind the accounting firm was identified as Ms. Yan Zhao (also known as Venus), a Chinese national, who managed the business remotely from China. She reportedly helped Chinese clients establish companies in Thailand by using Thai employees and close associates as nominee shareholders, thus bypassing Thai foreign business laws.

 

Armed with search warrants, police raided both locations, gathering evidence of illegal business practices, property ownership violations, and nominee arrangements. Authorities are now preparing legal action against all involved parties, ensuring that the businesses and individuals will face prosecution.

 

The operation was directed by Pol. Lt. Gen. Jiraphop Phuridech, Commissioner of the CIB, alongside Pol. Maj. Gen. Thasnapoom Charupraph, Head of the ECD, and Pol. Col. Krit Woratat, Superintendent of the ECD’s 4th Division. The arrests were carried out by a police team led by Pol. Lt. Col. Satit Hawongchai, Pol. Lt. Col. Worawut Khongraksa, Pol. Lt. Col. Nattadon Bamrungsin, and Pol. Lt. Col. Chanakan Nirum.

 

Authorities continue to investigate further financial irregularities and potential links to organised crime.

 

-- 2025-03-28

 

[gargamon]

Good job. Now start working on those who bought property via a Thai company to get around the foreigner cannot own land issue.

[hotchilli]

Pesky Chinese at it again..

[Pilot3Boz]

9 hours ago, gargamon said:

Good job. Now start working on those who bought property via a Thai company to get around the foreigner cannot own land issue.

 

9 hours ago, gargamon said:

Good job. Now start working on those who bought property via a Thai company to get around the foreigner cannot own land issue.

This could get very ugly very quickly if they did.. luckily there seems to be a lot of bigger fish to fry for now.. But if I had the Business owned property scheme, I would be very nervous at this point… 

[JBChiangRai]

11 hours ago, gargamon said:

Good job. Now start working on those who bought property via a Thai company to get around the foreigner cannot own land issue.

Do I detect a bit of jealousy there?

[gargamon]

43 minutes ago, JBChiangRai said:

Do I detect a bit of jealousy there?

Hardly. I would never buy property here. In the west, where there's ownership protections , i would and do. Here? Nope.

[Watawattana]

13 hours ago, Georgealbert said:

The mastermind behind the accounting firm was identified as Ms. Yan Zhao (also known as Venus), a Chinese national, who managed the business remotely from China.

Wonder if she can get extradited from China to Thailand?  A 'kind of' swap for the Uighars... 😜

[proton]

Extensions from visa gents next please

[EVENKEEL]

10 minutes ago, proton said:

Extensions from visa gents next please

Never happen. Sorry Charlie. 

[JBChiangRai]

On 3/28/2025 at 5:18 AM, gargamon said:

Good job. Now start working on those who bought property via a Thai company to get around the foreigner cannot own land issue.

 

19 hours ago, JBChiangRai said:

Do I detect a bit of jealousy there?

 

18 hours ago, gargamon said:

Hardly. I would never buy property here. In the west, where there's ownership protections , i would and do. Here? Nope.

Got it! You wouldn’t, so go after everyone who did.

 

PS I don’t have either but I wish those that have good luck and don’t want to see them persecuted .

[ChipButty]

On 3/28/2025 at 5:18 AM, gargamon said:

Good job. Now start working on those who bought property via a Thai company to get around the foreigner cannot own land issue.

That would open a real can of worms, they always talk about it but never follow it up, 

[watchcat]

On 3/27/2025 at 10:18 PM, gargamon said:

Good job. Now start working on those who bought property via a Thai company to get around the foreigner cannot own land issue.

 

Hear hear.