Chinese-Backed Nominee Group Busted in 2-Billion-Baht Condo Land Scam in Rayong
RAYONG, Thailand – Thai police have dismantled a Chinese-led nominee network involved in the illegal acquisition of prime land worth over 2 billion baht in Rayong province for a luxury condominium development.
According to Pol Maj Gen Thatphum Jaruprat, commander of the Economic Crime Suppression Division (ECD), the group had purchased 72 rai of land to construct ten eight-storey condominium buildings, totaling 1,821 units. The project was reportedly controlled entirely by Chinese nationals — from engineering and construction to site management.
Raids were conducted at three locations in Rayong and Chon Buri, following previous operations targeting similar networks in Phuket and Bangkok’s Huai Khwang district.
Complex Proxy Scheme Uncovered
Authorities found that four companies were established as fronts to conceal Chinese ownership. The firms engaged in shareholding swaps to disguise the true investors. A separate concrete production company, also under Chinese control, was formed to support the construction effort.
“They used one firm to hold shares on behalf of another to obscure the real owners. This is a classic nominee setup,” said Pol Col Wichak Tarom, ECD deputy chief.
Investigators discovered over 500 million baht in transactions linked to a Hong Kong-registered company. During the raids, police confiscated:
- Seven land title deeds
- 48 bank passbooks with a combined balance of 72 million baht
- Computers, mobile phones, and other electronic evidence
- Land purchase contracts, company seals, and bank tokens
Charges and Possible Land Repossession
Charges are being filed against five Thai and Chinese board members and shareholders, along with individuals involved in engineering, plumbing, and construction work.
Pol Col Krit Woratat, head of ECD Sub-division 4, said the land acquisition details will be forwarded to the Department of Lands, which may force a shareholding restructure or mandate the properties be sold to Thai nationals.
This case marks the latest in a series of crackdowns targeting illegal foreign land ownership through nominee arrangements, a growing concern in Thailand’s property sector.
