BANGKOK — The Central Investigation Bureau (CIB) has announced the successful results of their “CIB Nominee Sweep EP.3” operation, dismantling a Chinese nominee network that had acquired land in Rayong province to build luxury condominiums valued at 2 billion baht (approximately $60 million).
The operation revealed Chinese executives managing an integrated construction operation intended to create housing exclusively for Chinese nationals.
Police Major General Tassanapoom Jaruprak, Commander of the Economic Crime Suppression Division (ECD), stated that this follows previous crackdowns on foreign businesses in Phuket and Bangkok’s Huay Kwang district. Those operations uncovered the use of shell companies or nominees—Thai citizens acting as fronts for foreign ownership. This third phase of the operation investigated four legal entities suspected of concealing actual Chinese investors.
The investigation found that these four companies—one Hong Kong-based and one Thai—had purchased 72 rai (approximately 28.5 acres) of land across Chonburi and Rayong provinces. The land was being developed into a residential complex featuring ten 8-story buildings with 1,821 units, with a total project value exceeding 2 billion baht. The project is currently under construction.
“The criminal structure involves complex layering of company shareholdings to complicate investigations,” authorities explained. “Chinese representatives were sent to manage all aspects of the construction operations—from establishing their own concrete production company to employing Chinese engineers, designers, electricians, plumbers, and laborers for the entire project.”
“Financial investigations also revealed money transfers from Chinese investment companies registered in Hong Kong Special Administrative Region, with over 500 million baht circulating through company accounts—clearly indicating that these businesses are actually owned by Chinese investors,” officials added.
Police Colonel Krit Worathat, Superintendent of the ECD’s 4th Division, provided additional details, noting that the companies are interconnected through their accounting practices and personnel. Authorities inspected three locations in Rayong and Chonburi, finding closed systems where one company was established specifically to produce concrete for the construction project.
Authorities have initially seized various documents and assets including seven land deeds covering approximately 72 rai, 48 Thai and Chinese bank account books with combined balances of 72 million baht, two laptop computers, three mobile phones, one land purchase agreement, six company stamps, and seven bank security tokens as evidence.
Legal proceedings are divided into two parts. The first concerns violations of the Foreign Business Act and the Land Code, targeting company directors and shareholders, all of whom have denied the allegations. The second part involves prosecuting illegal foreign workers, who will be processed by local police and deported.
The ECD will forward land documentation to the Land Department for legal proceedings, which may require adjusting the shareholding structure to increase Thai ownership. If not resolved within the specified timeframe, a Land Department committee will petition the court to force the sale of the land to Thai nationals.
Those facing charges include five Thai and Chinese company directors and shareholders, two designers, two site supervisors, and two Chinese concrete and plumbing technicians.
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