BANGKOK, Thailand — The Royal Thai Police’s Central Investigation Bureau (CIB) has seized 33 luxury housing units valued at approximately 1.2 billion baht in a major crackdown targeting a Chinese-run real estate network accused of using Thai nationals as illegal shareholder nominees. The properties, located in the upscale Pattanakarn and Krung Thep Kreetha neighborhoods of Bangkok, were confiscated as authorities move to enforce strict regulations against foreign business ownership circumvention.

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The investigation was initiated following a series of formal complaints from Thai homeowners residing in the affected housing estates. Residents reported that a significant influx of new Chinese neighbors had led to community disturbances, prompting local authorities to escalate the matter to the CIB. Upon launching a formal probe, investigators uncovered a sophisticated operation allegedly orchestrated by a Chinese businessman identified as Hao Deng.

According to police findings, Hao Deng established multiple front companies to bypass Thailand’s Foreign Business Act, which restricts foreign ownership in certain sectors, including real estate development and brokerage. To facilitate this scheme, the suspect allegedly enlisted two Thai nationals, a woman named Piyanut and her mother, Sakorn, to act as nominee shareholders. Through these proxy entities, the network systematically purchased high-end residential properties, which were subsequently sold or leased to wealthy Chinese expatriates seeking to establish residency in the Thai capital.

During the coordinated raid, CIB officers executed search warrants and confiscated a substantial amount of evidence linking the suspects to the illicit operation. The seized items included 14 passports belonging to individuals of various nationalities, 30 sets of property purchase contracts, three land title deeds, and 1.4 million baht held in multiple foreign currencies.

Central Investigation Bureau (CIB) officers have seized 33 luxury housing units, worth about 1.2 billion baht, in Bangkok’s Pattanakarn and Krung Thep Kreetha areas in a major crackdown on Chinese-run real estate businesses using Thais as shareholder nominees.

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CIB Commissioner Police Lieutenant General Natthasak Chaowanasai addressed the media regarding the operation, emphasizing the bureau’s commitment to dismantling illegal nominee structures that undermine Thai economic sovereignty and community stability. The commissioner noted that the use of Thai citizens as frontmen for foreign investors remains a primary focus for law enforcement, as it violates national laws designed to protect domestic industries and maintain transparent property markets.

The seizure marks a significant escalation in the government’s efforts to regulate the real estate sector and ensure compliance with foreign investment laws. Authorities have indicated that the investigation is ongoing, with efforts currently focused on tracing the full extent of the network’s financial transactions and identifying any additional properties or individuals involved in the scheme.

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As the legal process advances, the suspects are expected to face charges related to the use of nominee shareholders, money laundering, and violations of the Foreign Business Act.

-Thailand News (TN)