What about Koh Samui ?  Similar stories .

This isn't a case of two Frenchmen who built a real estate empire through hard work.  These guys built-up three locations with dozens of villas on each of them, and that much money had to have come from somewhere, and certainly not from legitimate bank loans.

Dig deep enough and they'll likely find that these two were laundering money for organized crime.   

20 hours ago, NorthernRyland said:

It's a nominee structure, they leased the land from the owner.

I'm not sure about a nominee structure but a 30-year lease directly from the owner is legal. I'm a foreigner and lease land for 30 years in Thailand directly from the owner, it is legal as long as I'm not married to the land owner and we register the lease with the local land office. I had to pay a small fee to the land office, around 1% of the total lease if I remember correctly. The lease can be structured so the land goes back to the owner if I die or the lease can be inherited by my heirs.

8 minutes ago, JJ-Thailand said:

I'm not sure about a nominee structure but a 30-year lease directly from the owner is legal. I'm a foreigner and lease land for 30 years in Thailand directly from the owner, it is legal as long as I'm not married to the land owner and we register the lease with the local land office. I had to pay a small fee to the land office, around 1% of the total lease if I remember correctly. The lease can be structured so the land goes back to the owner if I die or the lease can be inherited by my heirs.

 

Yes I think you're right. What kind of land was it btw? Did it happen to be in a subdivision or otherwise related to an established real estate business? I'm guessing there are some restrictions on which type of land they will issue leases on.

37 minutes ago, NorthernRyland said:

I'm guessing there are some restrictions on which type of land they will issue leases on.

I don't think there are any restrictions on which type of land they will issue leases on as long as the owner has a Chanot title on it and maybe also no debt, not sure. My lease is a plot with a proper house, and I still have 18 years left on it. I paid the owner cash for the whole 30-years lease so I'm good until I pass, no rent and no mortgage. 

36 minutes ago, JJ-Thailand said:

I don't think there are any restrictions on which type of land they will issue leases on as long as the owner has a Chanot title on it and maybe also no debt, not sure. My lease is a plot with a proper house, and I still have 18 years left on it. I paid the owner cash for the whole 30-years lease so I'm good until I pass, no rent and no mortgage. 

 

Thanks. yeah I've never heard of a person leasing raw land without a house and a real estate company involved which is why I was curious.

On 11/10/2025 at 8:39 AM, Patong2021 said:

 

I do not believe that the owners of the villas are safe. There are a lot of ifs to be  answered first;

- Did the initial owners have clear ownership to the  land and property that was sold to the villa resident(s)?

- Do any of the tax liabilities attach to the villas? They may, if the villa owners were renting their properties out using the services of the French nationals.

- 

 

 

according to the article the land was leased from Thai owners, 30 year lease, so even if you have a Thai company with49% control I don't think they can lease the properties again as they don't own the properties only the buildings on the land which might fall back to the original lessors but I'm not a property lawyer so would have to get one to post the legals for this.

20 hours ago, NorthernRyland said:

Thanks. yeah I've never heard of a person leasing raw land without a house and a real estate company involved which is why I was curious.

It is common for large manufacturers, shopping malls and hospitals to lease land for 30-years. Like BigC, Central, IKEA, The Mall  etc.

51 minutes ago, JJ-Thailand said:

It is common for large manufacturers, shopping malls and hospitals to lease land for 30-years. Like BigC, Central, IKEA, The Mall  etc.

 

Actually I have seen signs for long term leases on raw land which are specifically written in English/Chinese. Whenever I see those I think the price must be ridiculous or they want to keep it in the family and earn a profit on it while it's appreciating in value. The signs are always next to large roads where it would only be suitable for a business.

6 hours ago, NorthernRyland said:

Whenever I see those I think the price must be ridiculous or they want to keep it in the family and earn a profit on it while it's appreciating in value.

I think you are right, they want to keep it in the family and earn a profit on it while it's appreciating in value.