French businessman exposed in Koh Samui nominee and fraud probe

Immigration authorities in Surat Thani have exposed a French businessman, 74-year-old Stéphane Thierry Bastok, for allegedly using Thai nominees to operate businesses on Koh Samui. The investigation revealed that two companies related to IDA B were using Thai shareholders—including restaurant employees and a driver—to hold 60% of the capital, despite these individuals lacking the financial means to be investors.

One of the companies operated a 12-room accommodation facility called ‘IDA B DOMAIN’ without proper hotel permits. Authorities also identified suspicious financial flows, including transfers from corporate accounts to the Frenchman’s personal account and his son’s account.

In a separate matter, Bastok is under investigation for investment fraud. He allegedly solicited approximately 26.4 million baht from eight compatriots to establish a cannabis farm, a project that was never actually realized. The authorities are pursuing legal action against the Frenchman for violations of the Foreign Business Act and illegal hotel operations, as well as against the five Thai nationals for acting as nominees.