Koh Phangan Police to oppose bail for foreign investors. 21 to be charged before the court on Monday

[Coss]

Police will oppose bail for 21 foreign suspects arrested in a Koh Phangan nominee business crackdown after raids uncovered 38 land plots worth 200 million baht, suspicious company structures and alleged illegal foreign control of island businesses.

Thai police will oppose bail for 21 foreign nationals accused of running illegal nominee business networks on Koh Phangan after investigators uncovered 38 land plots worth about 200 million baht, suspicious company structures and alleged unlawful foreign control of island businesses. The arrests followed raids on law and accounting firms, major document seizures and the use of advanced money-tracing technology as investigators widened a fast-moving crackdown spanning 32 companies and 45 arrest warrants linked to foreign investors from Europe, Australia, Israel and elsewhere.

Thai police will oppose bail for 21 foreign suspects after raids uncovered nominee firms, 38 land plots worth 200 million baht and alleged illegal holdings. (Source: Royal Thai Police)

Police will oppose bail for 21 foreign nationals arrested in a nominee business investigation on Koh Phangan when they appear in court on Monday. The 21 investors facing charges were part of an island-wide sweep on Saturday. Initially, it was reported that 22 people had been arrested.   LINK