Police arrest Chinese suspect over nominee property network
Thai police searched five locations and arrested a Chinese suspect accused of using nominee companies to hold luxury properties worth hundreds of millions of baht
Thai economic crime police have arrested a 35-year-old Chinese national identified as Mr Hao during a major operation targeting an alleged nominee network used to acquire luxury properties in Bangkok.
The operation was ordered by Pol Lt Gen Natthasak Chaonasa, commissioner of the Central Investigation Bureau, and led by Pol Maj Gen Thatphum Jaruprat,, commander of the Economic Crime Suppression Division, together with officers from Subdivision 4.
Police said officers searched five target locations on Saturday, June 13, as part of an investigation into a suspected Chinese nominee network accused of using Thai-held companies to acquire real estate worth hundreds of millions of baht.
The first two locations were Naravee Holding Co Ltd at house number 69/18 and Holding Good (Thailand) Co Ltd at house number 69/17, both in Narasiri Krungthep Kreetha village on Krungthep Kreetha 15 Road in Hua Mak, Bang Kapi district.
At the locations, police found Mr Siming, described as a Chinese investor overseeing the house. Officers seized a luxury Toyota Alphard van with a red licence plate, cash resembling Thai banknotes worth more than 1.4 million baht, foreign currencies in eight denominations, and devices used to store digital assets.
The third location was Liang People Thai Trading Co Ltd at house number 19/122 in The Venue project on Kanchanaphisek Road in Thap Chang, Saphan Sung district. Police seized land and building tax documents, juristic-person invoices, four data storage devices, and a file containing land title deeds and sale contracts.
The fourth location was TA Law Firm Co Ltd, Unit 903 at Supalai Grand Tower on Rama III Road in Chong Nonsi, Yan Nawa district. Officers seized several documents allegedly linked to company registration services.
The fifth location was a house at 222/67 in The City Rama 9-Krungthep Kreetha project on Srinakarin-Rom Klao Road in Thap Chang, Saphan Sung district.
Police arrested Mr Hao, aged 35, a Chinese national, and seized a large number of corporate registration documents, real estate sale agreements, land title deeds, bank books, company seals linked to the network, 32 key cards for Life Asoke-Rama 9 condominium units, and four electronic devices.
Police said the investigation found that the group, allegedly led by Mr Hao, had attempted to avoid Thai law by hiring a legal consultancy firm to set up companies using Thai women as directors and majority shareholders.
These companies were allegedly used as fronts to buy luxury houses and condominiums, while a Thai law firm was allegedly involved in preparing documents to conceal the arrangement.
During questioning, Mr Hao allegedly admitted that he had invested in setting up TA Law Firm Co Ltd and had used the names of two Thai women as nominee shareholders because of personal trust.
He reportedly said the arrangement was used to fund the purchase of luxury houses for Chinese associates, with him receiving sales commissions of around 1.5% to 2.5%.
However, all suspects denied charges under the Emergency Decree on Managing the Work of Aliens, police said.
Police initially detained the suspects and transferred them, together with the seized evidence, to investigators at the Economic Crime Suppression Division. Authorities said the investigation would be expanded to identify other alleged accomplices, both Thai and foreign, for further legal action.
