Chinese Nominee Firm's Rayong Condo Scheme Faces "Transnational Crime" Tag

Thai police are considering treating a case involving a Chinese-backed luxury condominium development in Rayong as a transnational crime.

The Economic Crime Suppression Division (ECD) of the Central Investigation Bureau (CIB) is probing allegations that a nominee company with Chinese capital unlawfully acquired land to build the 2 billion baht project, reportedly managed and constructed entirely by Chinese nationals.

Pol Col Krit Woratat, Superintendent of Sub-division 4, ECD, provided an update on the investigation, stating that officers will liaise with the Office of the Attorney General to discuss the legal ramifications of the case against the alleged Chinese nominee company.

Their inquiries have revealed that one of the four implicated companies is registered in Hong Kong, raising the possibility that the matter falls under the jurisdiction of transnational crime.

Furthermore, Pol Col Krit indicated that investigators are preparing to issue summonses to Thai shareholders who hold stakes in the four nominee companies. These individuals will be required to appear before the police to face similar charges to the 11 suspects already apprehended in connection with the case.

Initial estimates suggest that approximately three to four additional Thai individuals will be called in to acknowledge the charges. Pol Col Krit anticipates that a clearer picture of the overall progress of the investigation will emerge within the coming week.

The focus remains on unravelling the alleged nominee structure and ensuring that all those involved in the controversial land acquisition and development face legal repercussions.