Pattaya Raids Target Alleged Foreign Nominee Business Network

Pattaya Raids Target Alleged Foreign Nominee Business Network

Thai authorities raided three locations in Pattaya and Bang Lamung as part of an investigation into an alleged nominee network used to hold land and operate businesses for foreign investors. The operation involved the Department of Provincial Administration, the DSI and Royal Thai Police, with investigators focusing on companies linked to Cosy Beach View Company Limited. Officials searched KT International Law Office, the Chillad Avenue Hotel and Cosy Beach View, alleging that Thai employees’ names and layered shareholder structures were used to disguise foreign ownership. Authorities estimate the businesses tied to the network hold assets worth several hundred million baht. Documents, computers and electronic data were seized for forensic examination, and investigators said further action is expected under Thailand’s Foreign Business Act.