Thai Examiner
Massive Russian nominee property empire smashed by police in Chonburi. 775 homes worth 5 billion baht
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Russian-run nominee network controlling more than 775 homes worth over ฿5 billion dismantled in Chonburi, with four arrests, 41 raids and a nationwide investigation now under way into hundreds of companies and suspected foreign land ownership.
Key facts
- Russian-run nominee network controlling more than 775 homes worth over ฿5 billion dismantled in Chonburi, with four arrests, 41 raids and a nationwide investigation now under way into hundreds of companies and suspected foreign land
- A sweeping government crackdown has uncovered what investigators describe as one of Thailand’s largest foreign nominee property networks, with four Russian nationals arrested, more than 775 homes worth over ฿5 billion linked to hundreds of
- Police identify 33 key companies before filing criminal complaints against Russian property network
- Police arrested four Russian nationals, searched 41 locations and uncovered evidence linking hundreds of companies to more than 775 homes worth over ฿5 billion.
- Government launches nationwide crackdown on illegal immigration and foreign nominee ownership
- The land covered more than 130 rai and carried an estimated value of about ฿1.67 billion.
Summary
A sweeping government crackdown has uncovered what investigators describe as one of Thailand’s largest foreign nominee property networks, with four Russian nationals arrested, more than 775 homes worth over ฿5 billion linked to hundreds of companies and evidence pointing to an extensive corporate structure allegedly used to bypass Thai land ownership laws.
The government has dramatically intensified its campaign against illegal immigration and foreign nominee businesses after dismantling a Russian-controlled property network in Chonburi. Police arrested four Russian nationals, searched 41 locations and uncovered evidence linking hundreds of companies to more than 775 homes worth over ฿5 billion.