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33 Chinese-owned luxury homes seized in Bangkok

33 Chinese-owned luxury homes seized in Bangkok

11 Sept 01:27 Key points summarised by AI
  • Thai authorities seized 33 luxury homes in Bangkok, valued at 1.2 billion baht, targeting illicit Chinese-run real estate businesses.
  • The operation uncovered a scheme where a Chinese businessman used Thai nominees to acquire properties, subsequently selling or leasing them to other Chinese nationals.
  • The crackdown was prompted by complaints from Thai residents about disturbances caused by their new Chinese neighbors in upscale housing estates.
  • Police confiscated passports, property contracts, land deeds, and cash, highlighting the extent of the alleged nominee front companies.
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