KRABI, THAILAND – Authorities in Krabi have dismantled a vast network of shell companies and nominees used by foreigners to illegally acquire land worth millions of baht. The operation, which involved nationwide raids with over 300 officers, also uncovered the disturbing use of deceased individuals’ signatures to facilitate fraudulent transactions.
Two Main Groups Targeted by Investigators
Investigators identified two primary groups involved in the illegal land scheme. The first group comprised nine companies identified as pure nominee firms, which were found to control 17 plots of land. These areas, exceeding 6 rai in size, are estimated to be worth approximately 209 million baht. The court issued 40 arrest warrants and 13 search warrants against the responsible parties, with authorities successfully apprehending 39 individuals.
27 Thai Nationals and Foreigners from Four Nations Arrested
Among the 39 individuals taken into custody were 27 Thai nationals, who allegedly acted as nominees for foreign orchestrators. The foreign masterminds hailed from four countries: six Israelis, two Poles, two Swiss citizens, and one South African are now detained. They face accusations of acquiring land through nominee structures, a practice prohibited under Thai law.
290 Million Baht in Damage from Foreign Majority Ownership
The second identified group consisted of eight companies where foreign shareholders held more than half of the company shares. These entities controlled eight land plots, totaling over 8 rai. The estimated value of this illegally held land amounts to roughly 290 million baht. The court issued six search warrants to secure evidence and interrogate suspects.
Polish Pool Villa Company Caught with 200 Million Baht in Land
A particularly audacious case involved Tropical House Co., a company that marketed modern pool villas in prime locations like Nuea Khlong and Nong Thale, with prices starting from 11.5 million baht. Officially, the company had a registered capital of 4 million baht and was entirely Thai-owned. However, investigations revealed that a Polish couple, Katarzyna and Kamil, were the true controllers. Their company held 16 land plots valued at approximately 200 million baht, a figure significantly exceeding the company’s stated capital.
Forged Documents with Signatures of the Deceased
In the case of Gunz Partnership Ltd., an entertainment company, a South African national named Stefan was identified as the secret owner. An attorney, identified as W., and an auditor, S., are believed to have assisted him in concealing his ownership. To manipulate the shareholder structure, they reportedly resorted to forging documents, even using the signatures of deceased individuals, according to police reports. Authorities confiscated a large quantity of documents, computers, and mobile phones.
Large-Scale Raids in Phuket, Krabi, and Koh Phangan
While Krabi was the central focus, the Royal Thai Police significantly expanded their operations nationwide. In a third phase, officers specifically targeted foreign networks in Phuket, Krabi, and Phang Nga. Law enforcement successfully apprehended several suspects accused of controlling land worth an estimated 231 million baht in Phuket through fraudulent nominee constructs.
300 Officers Storm Koh Phangan
On the island of Koh Phangan, another coordinated action by the National Police involved the mobilization of over 300 officers to dismantle extensive shell structures. The raid’s objective was to halt the use of Thai nominees by foreigners to conceal illegal land ownership and business dealings. The seized data is currently undergoing forensic evaluation.
Investigative Files for Villa Andaman Handed to Prosecutor
Significant progress has also been reported in the high-profile “Villa Andaman” property scandal. The Department of Special Investigation (DSI) has officially transferred complete case files concerning 31 suspects to the Office of the Public Prosecutor for Special Offenses. These individuals are allegedly involved in illegal property transactions with foreign masterminds in Phuket and Koh Samui. The case is considered a milestone in the fight against foreign-controlled real estate networks in Thailand.