Thai Gov Seizes 20B Baht in Grey Capital Crackdown
Govt spokesman Ekkapop Pianpises reported on Sep 18, 2026, that assets worth over 20B baht tied to nominee networks were seized, warning corrupt officials.
Stock photo for illustration only, not from the actual event
- Thai government seizes over 20 billion baht in assets from grey capital networks.
- 2,100 companies identified as nominees with 10,000 more under investigation.
- Ministry of Commerce reports a 70% drop in risk-group company registrations.
- Strict legal action promised against any officials or politicians involved.
On September 18, 2026, government spokesman Ekkapop Pianpises revealed the progress of a strict crackdown on nominee networks, grey capital businesses, and ID card identity theft, following direct orders from the Prime Minister. The operation involves cross-agency data integration linking financial transactions, individuals, legal entities, shareholders, and land ownership to dismantle criminal networks using Thailand as a base.
The administration emphasizes transparent and prompt enforcement against illegal foreign business operations and nominee land ownership while welcoming legitimate foreign investors. Proactive measures have begun yielding tangible results through coordinated financial tracking to combat mule accounts and scrutinize suspicious corporate structures.
Stock photo for illustration only, not from the actual event
Through deep-dive investigations into financial transactions and corporate registry data by the Ministry of Commerce, the registration of high-risk nominee companies has decreased by approximately 70 percent. Further structural audits revealed that roughly 2,100 companies fit the nominee profile, while over 10,000 additional firms require urgent further investigation.
"Proactive operations are yielding tangible results through financial transaction coordination to track anomalies and suppress mule accounts."
Ekkapop Pianpises
Regarding land ownership violations, the Ministry of Interior detected corporate entities utilizing nominee structures to hold land and real estate valued at over 80,000 million baht. All gathered evidence has been forwarded to relevant authorities for strict legal prosecution, with assurances that any politicians or government officials found complicit will face severe penalties without exception.
The suppression of grey capital and nominee operations in Thailand represents a critical economic and security challenge. Asset concealment through proxy holders not only deprives the state of tax revenue but distorts market mechanisms and harms local SMEs. While integrating corporate databases with financial tracking closes legal loopholes, the ultimate test lies in sustained enforcement against influential figures and corrupt state officials.
Source: Khaosod Politics
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