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Thai Police Bust Foreign Nominee Company Network in Chiang Mai
Thai police have launched 'Phase 5' of an operation to dismantle a network of foreign nominee companies operating illegally in Chiang Mai. 18 locations were raided as part of the crackdown on illicit business practices.
The Royal Thai Police have announced the results of 'Phase 5' of a large-scale operation targeting a network of companies allegedly operated under foreign nominees. The operation aims to crack down on fraudulent business activities by foreigners within Thailand. The crackdown focused primarily on Chiang Mai province, where police conducted raids on 18 locations. This action is expected to shed light on the true nature of businesses suspected of being registered and operated under foreign names. Authorities are investigating the possibility that these companies violated Thai laws and profited through illicit means. This operation is seen as part of broader efforts to ensure transparency in foreign investment in the Thai economy and to maintain a fair competitive environment for domestic businesses. The police have indicated a firm stance against similar fraudulent activities in the future. Source: MGR Online (Regional)
Original source
MGR Online (Regional)