According to researchers, the construction project in Rayong was being run entirely by Chinese citizens.
PUBLISHED: 1 May 2025 at 17: 49
Thai police have detained a Chinese-led candidate party suspected of acquiring 2 billion baht of land for a lavish condominium project in Rayong state.
According to Pol Maj Gen Thatphum Jaruprat, head of the Economic Crime Suppression Division (ECD ), the party had purchased 72 ray of property for a job that would be run completely by Chinese immigrants.
Three sites, Rayong and Chon Buri, were affected by the assault. At a press conference on Thursday, Pol Maj Gen Thatphum stated that this was the next procedure in place after previous attacks in Bangkok and the Huai Khwang place.
Authorities seized significant papers, he said, and are now bringing charges against five committee members and owners, both Thai and Chinese, as well as supervising engineers, electricians, and construction workers.
On land plots in Rayong that reportedly were acquired by nominations for Chinese investors, some development has already been done. ( Photo provided/Wassayos Ngamkham )
Four listed firms were discovered in investigations as potential proxies for Taiwanese investors.
To construct 10 eight-storey condo buildings with a full of 1, 821 products, the companies had purchased land in Rayong and Chon Buri.
According to ECD deputy chief Pol Col Wichak Tarom, the group allegedly used a company to conceal real ownership by putting stocks in place of another.
Chinese citizens, he continued, oversaw every stage of the project, from design to completion, even starting a material production company to support it.
Over 500 million baht in purchases tied to a Hong Kong-registered organization were discovered in a financial analysis.
According to Pol Col Krit Woratat, commander of ECD sub-division 4, authorities seized seven property title deeds, 48 bank passbooks with mixed balances of 72 million baht, a desktop computer, two laptops, three mobile phones, area buy contracts, six company seals, and seven bank tokens.
The Department of Land may require the organizations to restructure their shareholdings or have the qualities sold to Indian nationals if the ECD receives the land data.