Siam Legal International Warns Foreign Buyers on Bangkok Resale Property Risks
Police seized 33 luxury homes worth over 1.275 billion baht after uncovering shell companies and proxy shareholders tied to a Chinese suspect.
- Thai police raided 20 locations across Bangkok on Wednesday, seizing 33 luxury homes valued at more than 1.275 billion baht in an alleged proxy ownership scheme led by Chinese national Mr. Hao Deng.
- To circumvent Thailand's 49% foreign ownership quota per building, Hao Deng allegedly created 33 shell companies using two Thai women—a mother and daughter—as nominal shareholders and corporate directors.
- Officers seized 30 pre-signed share transfer forms that gave Hao Deng instant control over properties, along with 15 multi-nationality passports, 1.4 million baht in cash, and corporate documentation discovered by the Economic Crime Suppression Division and Department of Business Development.
- Authorities are obtaining arrest warrants for all suspects under the Foreign Business Act and national land management laws, while the Land Department will initiate legal procedures to sell off the seized properties.
- Siam Legal International, a law firm with more than 22 years of experience, advises foreign buyers to seek independent legal verification of title deeds and building compliance before purchase, as hundreds of thousands of resale units remain listed across Greater Bangkok with average selling times exceeding two years.
15 Articles
15 Articles
Police Bust $35 Million Chinese Nominee Property Scam In Bangkok
BANGKOK – Thai police have uncovered a massive real estate scheme in Bangkok involving local proxies and illegal foreign ownership. Officers raided 20 locations across the capital, seizing 33 luxury homes valued at more than 1.275 billion baht ($35 million). According to a report by Thairath, a Chinese mastermind allegedly used front companies to purchase […] The post Police Bust $35 Million Chinese Nominee Property Scam in Bangkok first appeare…
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Siam Legal International Warns Foreign Buyers on Bangkok Resale Property Risks
Police Seize 33 Chinese-Owned Luxury Homes Worth 1.2B Baht in Nominee Crackdown
BANGKOK, Thailand — The Royal Thai Police’s Central Investigation Bureau (CIB) has seized 33 luxury housing units valued at approximately 1.2 billion baht in a major crackdown targeting a Chinese-run real estate network accused of using Thai nationals as illegal shareholder nominees. The properties, located in the upscale Pattanakarn and Krung Thep Kreetha neighborhoods of […] Source
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