B2.1bn in land seized in nominee bust
Thai interior and commerce ministries seized 126 rai of land valued at over 2.1 billion baht in Krabi after uncovering an alleged foreign nominee scheme. The scheme involved a British national who created three companies using Thai nominee shareholders, achieving near‑total control of Gulval Properties through circular cross‑shareholdings. The seized land is frozen pending legal proceedings while police expand the investigation into possible foreign funding and state employee involvement.
- ▪The Interior and Commerce ministries seized 126 rai of land worth more than 2.1 billion baht in Krabi following a probe into illegal foreign ownership via Thai nominee shareholders.
- ▪A British national identified only as "Alain" established three companies that used circular cross‑shareholdings to control 99.87% of Gulval Properties.
- ▪The network acquired 22 plots covering over 126 rai on Koh Por, offered the land for sale online, and the Department of Lands will investigate ownership documents before compulsory disposal.
- ▪Police will broaden the investigation to determine if foreign funds financed the purchases and to identify any state employees who may have facilitated the scheme.
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Thailand General B2.1bn in land seized in nominee bust PUBLISHED : 26 Jul 2026 at 06:33 NEWSPAPER SECTION: News WRITER: Achadthaya Chuenniran Small Medium Large Deputy Interior Minister Polapee Suwunchwee addresses the media during a joint operation by the Interior and Commerce ministries and police to crack down on nominee businesses in Krabi on Saturday. Ministry of Commerce The Interior Ministry has seized 126 rai of land worth more than 2.1 billion baht in Krabi after uncovering an alleged foreign nominee scheme involving a British national.Deputy Interior Minister Polapee Suwunchwee said on Saturday the operation was conducted on Friday in Koh Lanta district, saying the land seizure followed an investigation into suspected illegal foreign ownership through Thai nominee shareholders.
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