Bangkok: Police have successfully dismantled a Chinese nominee gang involved in the illicit purchase of 33 luxury homes, subsequently rented or sold to Chinese buyers.
According to Thai News Agency, the Central Investigation Bureau recently launched an operation targeting a Chinese-owned property ring that exploited Thai girlfriends as surrogate owners. These luxury properties, valued at over 1.2 billion baht, were located in the Phatthanakan and Bangkok Kreetha areas. The Economic Crime Suppression Division conducted raids on five luxury housing estates after receiving a tip-off regarding Chinese nationals owning and renting out properties, causing disturbances to nearby residents.
Investigations unveiled that the properties were registered under a company structure, with a Thai mother and daughter, Ms. Piyanut and Ms. Sakorn, acting as nominees. However, the orchestration of these transactions was led by a Chinese man, Mr. Hao Deng. He facilitated the establishment of 33 companies, each owning a house in three different villages, totaling 1,275 million baht. The company registration served as a facade for property purchases, with a law firm and an accounting firm managing the process.
Mr. Hao Deng, who is Ms. Piyanut's boyfriend, provided the registered capital and housing costs. Ms. Piyanut, a bakery saleswoman, and her mother, a rubber farmer, were merely fronts for the transactions. When Chinese clients showed interest in purchasing a house, the company would restructure, appointing these clients as shareholders or directors to pass property ownership. In some instances, a nominee company of Chinese nationals served as an agency to find clients for renting or selling the properties.
Authorities initially seized evidence including three land title deeds, 30 sets of share transfer agreements signed by Ms. Piyanut and Ms. Sakorn, 15 passports from various nationalities, electronic devices, and currency totaling approximately 1.4 million baht, along with numerous company documents. The police are now focusing on investigating financial transactions and questioning relevant witnesses to expand the investigation. They aim to prosecute Mr. Hao and his accomplices, currently totaling 21 individuals: 4 Thais and 17 Chinese nationals, suspected of violating the Foreign Business Act and offenses under the Land Code.