BANGKOK, Thailand – Deputy Minister of Interior Polapee Suwunchwee has launched Phase 7 of the joint operation to dismantle illegal foreign nominee networks in Koh Samui, Surat Thani Province, to enforce legal compliance among foreign businesses and prevent the use of Thai citizens as proxy shareholders.
Using the “Koh Phangan Model” for in-depth investigations, authorities reviewed 12,906 registered businesses in Koh Samui and identified 875 companies that may be operating as illegal nominees. Among these, 61 companies are suspected of facilitating illicit business formations and holding 42 land plots totaling 33 rai, valued at approximately 1.5 billion baht.
Previous investigations led to 60 legal cases against 88 individuals, including 26 Thais and 62 foreigners. In this phase, authorities executed 37 search warrants and arrested 27 foreign suspects of various nationalities. Police are currently tracking 35 additional suspects who have reportedly fled the country.
The recent raids targeted five corporate groups involved in luxury real estate, international schools, and visa facilitation. Notable cases include groups using complex proxy structures for luxury villas and a foreign suspect accused of defrauding investors of 33 million baht to fund an unlicensed hotel and cannabis farm. Authorities seized accounting records, computers, and digital data to support the ongoing investigation.
Deputy National Police Chief Police General Samran Nualma stated that the operation aims to ensure fair competition and strict adherence to Thai law for foreign investments in major tourist hubs such as Surat Thani, Phuket, and Chonburi. The government affirmed that it welcomes transparent foreign investment and warns that strict legal action will be taken against any state officials found complicit in corruption. (NNT)
