HUA HIN, Thailand – A 67-year-old South Korean man has been arrested in Hua Hin for allegedly defrauding fellow Koreans through a property investment scheme in Thailand, with similar cases linked to more than 147 million baht in reported losses.
Central Investigation Bureau (CIB) officers and the Crime Suppression Division arrested the man, identified as Han, at a house in Hin Lek Fai, Hua Hin, Prachuap Khiri Khan, under an arrest warrant issued by the Criminal Court on a charge of joint fraud. Police said the case began around 2020 when a South Korean victim was allegedly approached by Han and others to invest in land and condominium properties in Phetchaburi and Prachuap Khiri Khan.
Han allegedly claimed he could arrange the purchase of land and condominiums for the victim.
The victim initially agreed to buy a condominium and transferred 8.9 million baht to a company account. The company was reportedly operated by a 57-year-old woman identified as Han’s former wife.
The victim was later allegedly persuaded to invest in land in Cha-am and Hua Hin, with the group proposing that a company be established so the victim could hold shares and have authority to manage the property investment. A further 89 million baht was then transferred to the newly established company, according to police.
The victim later discovered that the company had allegedly not used all of the money to purchase land as promised. The victim subsequently filed a complaint, with the initial reported damage in that case amounting to 97.4 million baht. Investigators later traced Han to a house in Hua Hin. Police obtained a search warrant and found him hiding inside the property before arresting him.
He was taken to Hua Hin Police Station for the arrest record before being handed over to investigators from Crime Suppression Division 4 for further legal proceedings. Police said database checks also found that Han and other suspects may be linked to three additional cases involving similar alleged schemes, bringing the combined reported losses to 147,579,278 baht.
South Korean authorities have also reportedly provided information alleging that Han is connected to nine similar cases in South Korea. CIB advised people considering property investments to independently verify land and property ownership documents with the Land Office, carefully check company structures and the backgrounds of business partners, and exercise caution when approached by acquaintances or fellow nationals offering investment opportunities.
