BANGKOK — Thai authorities have arrested 72 individuals and implicated 15 companies in a major crackdown on nominee businesses following an investigation into a Chinese fugitive wanted on an Interpol Red Notice.
The Economic Crime Suppression Division (ECD) conducted raids on March 27 at an accounting firm in Bang Phli Yai, Bang Phli district, and a luxury residence near Suvarnabhumi Airport in Samut Prakan province. The operation resulted in the arrest of 21 Chinese nationals, 51 Thai citizens, and the identification of 15 companies allegedly involved in nominee business practices.
The investigation stemmed from the early March arrest of a Chinese suspect identified as “Mr. Li,” who had been evading Chinese authorities since 2021. Mr. Li is wanted in China for allegedly embezzling 3 billion yuan (approximately 14 billion baht) and had established Anjia International Company in Thailand, which reportedly defrauded Chinese nationals by falsely claiming to provide visas and Thai ID cards.
During the raids, authorities seized five land title deeds, 332 company stamps, two boxes of customer documents, a file related to nominee companies, and 16 visa and work permit applications.
Investigators discovered that a Chinese woman known as “Venus” operated the business from China, recruiting Chinese clients interested in establishing companies in Thailand. She allegedly communicated with her Thai operation via WeChat. The business model involved using Thai employees and associates as nominees to hold shares in companies on behalf of Chinese nationals, circumventing Thai laws restricting foreign ownership of businesses and real estate.
The investigation also revealed that the luxury house raided was owned by a Chinese nominee company. Five additional houses in the same development, valued at over 150 million baht ($4.4 million), were similarly held by Chinese nominee companies. Furthermore, 17 related companies were registered at the same address – an abandoned building in the Bang Sao Thong area that was not functioning as an actual office.
All suspects face charges under the Foreign Business Act, which prohibits foreigners from using Thai nominees to operate businesses in Thailand.
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