Koh Samui raid uncovers 60 illegal nominee businesses

Authorities in Koh Samui have uncovered a large-scale operation involving 60 illegal nominee businesses. During a major raid involving over 300 police and Interior Ministry officials, investigators targeted foreigners suspected of using Thai nationals to illegally hold shares or assets to run businesses on the island.

Of the 12,906 registered companies on Koh Samui, officials identified 875 showing signs of nominee arrangements. Further screening revealed 59 suspicious companies holding property and land valued at approximately 1.2 billion baht (US$36 million). The investigation has resulted in 60 legal complaints against 88 suspects, including 26 Thais and 62 foreigners. So far, 14 suspects have been arrested, representing nationalities including China, the United Kingdom, Italy, France, the Netherlands, Austria, the Philippines, and the United States.

Specific networks under investigation include a 19-company group linked to Israeli nationals operating unlicensed nurseries and luxury villa rentals, as well as a group of German nationals suspected of building villas in breach of construction regulations. Additionally, French businessman Stephane Thierry Bastok is under investigation for allegedly using Thai nominees to control companies, including an unlicensed 12-room accommodation facility in Lipanoi.