The DSI said its Security Cases Division has been investigating a network of law firms in Phuket and Surat Thani accused of using Thai nationals as nominees to establish companies on behalf of foreign investors in order to hold land and operate real estate development businesses.
The investigation is part of Case No. 7/2027 involving Villa Andaman Co Ltd. and related parties.
DSI investigators had previously submitted the main case file against Villa Andaman Co Ltd and 31 suspects to the Office of the Attorney General’s Special Cases Division on Apr 22 this year. At that time, files relating to 28 suspects were submitted, while three additional suspects remained pending due to criminal background checks.
The DSI confirmed that the remaining investigation, involving suspects connected to Firefly (Thailand) Co Ltd, has now been completed.
DSI investigators from the DSI Security Cases Division on Monday (May 25) submitted additional investigation files covering the remaining three suspects, along with two foreign nationals identified only as ‘Mr Symond’ and ‘Ms Wendy’ in both personal and representative capacities.
According to the DSI, the expanded investigation stemmed from allegations that ‘Mr Marcus’, a British national, and ‘Mr Paul’, an American national, jointly used Thai nominees to conceal foreign ownership interests in real estate businesses in violation of Thai law.
All suspects are accused of offences under the Foreign Business Act B.E. 2542 (1999), including operating businesses without permission as foreigners, using Thai nominees to circumvent restrictions on foreign ownership, and directors being complicit in offences committed by legal entities.
The DSI said the investigation forms part of ongoing efforts to prevent foreigners from exploiting legal loopholes to acquire land or operate restricted businesses in ways that negatively affect the Thai economy and employment opportunities for Thai nationals.
Further updates will be provided as the case progresses through the public prosecutor’s office, the DSI said.