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Chiang Mai Thai nominee raids net ฿633m in assets

Chiang Mai Thai nominee raids net ฿633m in assets

11 Sept 03:06 Key points summarised by AI
  • A task force launched 'Foreign Nominee Network Takedown Phase 5', raiding 18 locations across Chiang Mai to dismantle front businesses linked to ฿633 million in damages.
  • Authorities identified 31 primary suspect companies either using Thai nationals to mask foreign ownership or illegally holding land assets exceeding legal limits.
  • The operation resulted in 22 arrest warrants targeting an international network of Thai, Myanmar, Indian, British, and Chinese nationals, with eight suspects already apprehended.
  • A concurrent 'Protect Chiang Mai' initiative seized additional upscale properties and company registrations valued over ฿23.6 million, linked to Chinese capital networks in Saraphi district.
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