BANGKOK, Thailand – Over 30 individuals filed a formal complaint on May 15 with the Crime Suppression Division (CSD), accusing a real estate company of deceiving homebuyers in a fraudulent secondhand housing scheme that allegedly caused losses exceeding 300 million baht. The group was led by Mr. Tankhun Jitt-itsara, president of the Peace and Justice Club (Santi Prachatham).
The victims claim the company advertised homes it acquired through Legal Execution Department auctions, many of which were still under mortgage or only partially owned. Buyers were misled into placing down payments and entering rent-to-own agreements, only to later discover that the company had not redeemed or transferred ownership of the properties as promised.
Tankhun explained that the company targeted financially vulnerable people unable to obtain traditional bank loans, using platforms like Facebook and LINE along with regional sales managers to promote the deals. Buyers were asked to place a 10% down payment, charged 6% annual interest, and were told they could eventually own the homes—while continuing to pay rent and savings installments.
Many victims later discovered court notices posted at their homes, stating the properties were being re-auctioned. Some even spent hundreds of thousands of baht renovating homes they never legally owned. In some cases, the company allegedly threatened buyers who questioned the process, blocked access to properties, or filed lawsuits against them for breach of contract.
One victim, unable to qualify for a bank loan due to bad credit, shared that despite paying all monthly installments on time over three years, she received an eviction notice and was harassed with her gate locked and driveway blocked. Tankhun noted similar complaints have been filed since 2021, involving over 50 victims and damages of 56 million baht. The victims are now urging authorities to investigate the legality of the company’s transactions. (TNA)
