PHUKET 1 June (TNA) – The Economic Crime Suppression Division (ECSD) of the Royal Thai Police on Friday cracked down a large Thai nominee network that illegally helped foreigners, mostly Russians, to register setting up real estate companies with more than 1 billion baht circulation.

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During the crackdown operation targeting Thai nominee networks for Russians in Phuket, the ECSD could seize 225 bank accounts with more than 300 million baht in circulation to register new companies, 245 land documents, including those for 196 condominium units worth about 1 billion baht, documents related to the setting up of 800 companies; 1,601 company stamps, and other nine assets.

Pol Maj Krit Worathat, a police superintendent of the ECSD said that according to the information, the main suspect, Ms Iana, 45, is involved as a director and shareholder alongside Thais in nine companies – the highest number for a foreigner in Phuket.

Full story: tna.mcot.net

TNA