More than 500 officers raided properties across Phuket, Phang Nga and Krabi in the third phase of a nationwide crackdown on alleged foreign nominee businesses, seizing land and assets worth more than 1 billion baht.
Police said the operation targeted 89 land plots covering about 49 rai, with a combined value of 1.05 billion baht. Courts approved 59 arrest warrants for 28 Thais and 31 foreigners, as well as 60 search warrants.
Investigators identified 29 companies suspected of operating through Thai nominees and 48 firms accused of holding land while being effectively controlled by foreign shareholders.
Among the cases under investigation are hotel, villa, restaurant, cannabis, fitness and property-development businesses in major tourist destinations.
In Krabi, authorities alleged that a property development company linked to Polish investors used Thai shareholders as nominees while controlling land worth around 200 million baht. Another case involved an entertainment business allegedly owned by a South African national through Thai proxies.
Police also said they found evidence suggesting some nominee shareholders were company employees or relatives of foreign business operators, while investigators are examining allegations that forged documents, including signatures of deceased persons, were used in company registrations.
The seized evidence includes company records, accounting documents, computers, mobile phones and electronic data. Authorities said the investigation is continuing and may be expanded nationwide.
