The operation on Saturday (Jan 6) was jointly conducted by the ONCB, the Metropolitan Police Bureau and the Patrol and Special Operations Division, reports Bangkok Post.
The gang first came to the attention of authorities in February 2021, following the arrest of 11 suspects and the seizure of 4.16 million methamphetamine pills, 9 kilogrammes of crystal meth and 5kg of cannabis, said Lt Gen Panurat Lakboon, the ONCB secretary-general.
A subsequent investigation into the transaction route led to the arrest of a foreigner, identified as Min Min Wu, on March 6, 2022. He was caught while withdrawing money from a bank account linked to the gang in Mae Sot district of Tak.
Min Min Wu was believed to have overseen the network’s financial transactions and purchases. Cash plus assets including commercial buildings, houses and cars worth a total of around B517 million were confiscated, but investigators believed moire assets remained to be found.
New information led to raids on Saturday in Prawet, Bang Kapi, Phra Khanong, Klong Toey and Watthana districts of Bangkok, Lt Gen Panurat said.
The police froze 16 targeted assets including 10 houses in a project in the Srinakarin area and five condominium units, worth a total of B537.9mn. Other seizures brought the grand total to B1.05bn.
Lt Gen Panurat said the case was linked to raids that took place between 2020 and 2021 on seven drug networks, one of which was found to have transferred money from southern Thailand to foreign drug rings in northern Thailand.
Some of the money was transferred outside the country and some was used to buy gold, cryptocurrency and real estate in central Thailand.
Justice Minister Tawee Sodsong told the media that police would continue to expand the investigation to track down all suspects and prevent drugs from spreading throughout the country, and to eradicate and freeze the assets of major drug networks.