UPDATE: Thailand police say Phuket crackdown phase 3 targeted 77 firms and land worth 1.053 billion baht

Thailand's Royal Thai Police said phase 3 of its crackdown on suspected foreign nominee networks in Phuket, Phang Nga and Krabi involved more than 500 officers and targeted 77 companies linked to land holdings and share structures worth about 1.053 billion baht.

Police said the operation, launched at Mueang Phuket Police Station, was carried out with immigration authorities, the Department of Lands and other government agencies under a government drive to tackle nominee arrangements that may violate Thai law, including the use of Thai nationals as proxies to conceal foreign ownership of land and businesses.

Authorities said courts approved 59 arrest warrants and 60 search warrants in the three Andaman provinces. Police said the operation covered 89 land plots with a combined area of 49 rai, 1 ngan and 6.4 square wah, with land and structures valued at 1,053,518,872 baht.

According to police, investigators found 29 companies with nominee characteristics and 48 companies holding land in cases where foreign shareholders outnumbered Thai shareholders.

In Phuket, police said enforcement action was divided into two groups. The first involved 10 companies suspected of acting as nominees, linked to four land plots covering 2 rai, 1 ngan and 50.5 square wah, valued at about 116 million baht. Courts approved 13 arrest warrants for 12 foreign nationals in that group. The second involved 39 companies holding 52 land plots covering about 12 rai, 2 ngan and 62.5 square wah, valued at about 115 million baht, where foreign shareholding exceeded half. Police said courts approved 29 search warrants for that group.

Authorities said key targets in Phuket included companies in the G-Mat network, including firms involved in hotel and resort operations, condominium and motorcycle rental services, restaurants and cannabis shops, and a fitness business.

In Phang Nga, police said they found nine companies with nominee characteristics linked to seven land plots covering 17 rai, 3 ngan and 18 square wah, valued at about 269 million baht. Courts approved six arrest warrants and three search warrants, and police said they arrested one British company director. A second Phang Nga case involved one company holding one land plot of 9 rai, 3 ngan and 20.4 square wah. Police said a land official in Takua Pa filed a complaint over the company's holding of land and structures valued at about 54 million baht.

Police said a prominent Phang Nga target was Sava Beach Villa, where investigators found seven villas being rented daily with staff on site, in what they said was hotel-like business activity without a licence.

In Krabi, police said they found nine companies with nominee characteristics linked to 17 land plots covering 6 rai, 1 ngan and 12.4 square wah, valued at about 209 million baht. Courts approved 40 arrest warrants and 13 search warrants in that group, and police said they arrested 26 Thai nationals and 12 foreign nationals. A second Krabi group involved eight companies holding eight land plots covering 8 rai and 25.6 square wah, valued at about 290 million baht, where foreign shareholders outnumbered Thai shareholders. Police said courts approved six search warrants to gather evidence and question those involved.

Authorities said one major Krabi case involved Tropical House, which police described as a construction and property development company tied to Polish investors. Police said the company developed modern pool villa projects in prime locations including Nuea Khlong, Nong Thale and Khao Thong, with advertised prices starting at 11.5 million baht. Investigators said the company had registered capital of 4 million baht but held 16 land plots covering about 6 rai and 76.6 square wah, valued at about 200 million baht. Police said registry data showed Thai nationals holding 100% of the shares, while two foreigners were alleged to be the real managers and controllers.

Police also cited another Krabi case involving Kunj Entertainment, a limited partnership in the entertainment and music business. Authorities alleged it was owned in reality by a South African national using Thai nominees, with assistance from a lawyer and an accountant in preparing false documents for company registration and shareholder changes. Police said evidence suggested signatures of a deceased person had been used in official and corporate registration documents.

Investigators said they seized company registration papers, accounting documents, computers, mobile phones and electronic data during the searches and were expanding the investigation to related networks.

Police said legal action would be taken against anyone found to have engaged in nominee arrangements or other violations of the law, and that the crackdown would be expanded beyond southern Thailand to other parts of the country.

Authorities have previously said the first two phases of the crackdown focused on Koh Phangan in Surat Thani and involved 105 cases linked to 119 land plots covering more than 106 rai.