Connect with us

Business

American arrested for violating Foreign Business Act in Thailand

Published

on

American arrested for violating Foreign Business Act in Thailand

An American citizen was arrested by Thailand’s Department of Special Investigation (DSI) for allegedly violating the Foreign Business Act. The arrest stemmed from accusations of unlawfully redirecting profits from property sales by Anchan Villas, a luxury villa estate developer.

The individual, identified as David, was apprehended at the entrance of Jomtien Hospital in Chon Buri around 11 a.m. last Thursday, according to the DSI’s report. He was sought under an arrest warrant issued by the Criminal Court on December 19, 2023.

David’s Violation of Foreign Business Act

David faces charges for failing to prevent a violation of the Foreign Business Act, B.E. 2542, in his capacity as a partner director or authorized person representing a juristic person. The case involves a legal consulting firm operating in Surat Thani and Phuket, with executives including British national Markus and American national Paul.

According to the DSI report, these executives facilitated a Thai employee to act as a front to establish Sunny Shores Property Co Ltd, which then held shares in various companies in Surat Thani and Phuket.

The report detailed that when foreigners purchased land, the holding companies would sell their shares or close the original company, allowing foreign customers to take over and occupy the land, thus benefiting from the land sales profits.

David, associated with Leaf Lucky Co Ltd, was involved in purchasing land from Anchan Villas Co Ltd for real estate development. The report clarified that such transactions constituted real estate trading, which is prohibited for foreigners.

David had fled but was apprehended after investigators requested a court-issued arrest warrant. The arrest was conducted under the orders of DSI Deputy Director-General Police Lieutenant Colonel Yutthana Praedam, who is currently acting as the Director-General of DSI.

It’s noteworthy that the arrest coincided with Lt. Col. Yutthana’s visit to Phuket for an investigation into an elephant park run by Swiss expat Urs Fehr and his wife, Khanuengnit.

“While Anchan Villas’ properties were implicated in the illegal profit diversion, the developer itself has not been accused of any wrongdoing according to the DSI report.”

Anchan Villas’ properties were linked to illegal profit diversion, yet the developer remains unaccused of wrongdoing per the DSI report. This highlights a distinction between property involvement and direct culpability, emphasizing the need for thorough investigation to accurately attribute responsibility in legal matters.

Based in Cherng Talay, Anchan Villas is engaged in multiple luxury villa projects in Phuket and has received recognition for its work in the real estate sector.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Rayong fishing groups sue Star Petroleum over oil spill devastation

Published

on

By

Rayong fishing groups sue Star Petroleum over oil spill devastation

A group of 14 individuals hailing from Rayong, 2qmate release of 50,000 liters of crude oil into the Gulf of Thailand, besmirching the shores of Rayong.

The province’s Fisheries Office reports a toll of at least 2,600 fishermen affected by this calamity. Beyond the depletion of fish stocks in the area, the contamination rendered the remaining catch unsalvageable.

Subsequent to the disaster, local fishermen have found it unfeasible to sustain themselves. Their customary fishing yields from the Rayong coastline have notably dwindled. Many have resorted to extending their maritime excursions or ceasing fishing operations entirely.

“14 Rayong residents sue SPRC over 2022 oil spill, seeking compensation for livelihood losses.”

Lamom Boonyong, president of the Pak Nam Ban Rao fishing community, elucidated that the lawsuit extends beyond the culpability of the oil spill’s perpetrator. Five additional entities stand accused of contravening environmental safeguarding statutes.

Representing diverse factions comprising over 800 members collectively, the plaintiffs aim to establish a precedent with their litigation.

Should the verdict favor their cause, it could pave the way for compensation claims by remaining members, potentially entailing a financial burden of approximately 240 million baht for the implicated company, as per Bangkok Post.

Furthermore, these groups implore governmental intervention to facilitate the restoration of the local marine ecosystem. The Civil Court is slated to review the lawsuit on May 17th.

Continue Reading

Business

Pattaya Port Authority prepares 700 speedboats for Songkran

Published

on

By

Pattaya Port Authority prepares 700

As the Songkran Festival looms closer, Pattaya Port Authority prepares for an influx of travellers with an initiative to ensure safety and convenience. From April 11 to 17, they are set to facilitate seamless water travel between Koh Larn and Pattaya.

To cater to the needs of both locals and tourists, the authority has orchestrated a fleet comprising 60 passenger boats and 700 speedboats. Their ambitious setup aims to handle at least 20,000 travellers daily, totalling a staggering 140,000 to 150,000 over the seven-day festival.

Ekkrach Kantharo, Director of the Regional Marine Office, Pattaya Branch, highlighted the meticulous preparations.

“With Thailand offering visa-free entry for Chinese tourists this year, there’s been a noticeable surge in visitors to Pattaya, especially those flocking to the pristine shores of Koh Larn for relaxation.”
Passenger boats, each capable of accommodating 150 travellers, will shuttle between Pattaya and Koh Larn hourly, with three to four boats scheduled based on demand. Meanwhile, speedboats will offer flexibility for private trips.

The allure of Koh Larn’s scenic beaches and crystal-clear waters has made it a top pick among tourists, driving up the demand for water travel services. Daily port activity in Pattaya has skyrocketed to over 15,000 passengers, with foreigners making up 70%, including Chinese, Russians, and Indians, while Thai nationals account for the remaining 30%.

During the Songkran festival period, the Pattaya Port Authority will set up a dedicated water convenience and public relations centre at the port. Collaborating with Pattaya City, marine police, tourist police, and rescue workers, they aim to prioritise safety.

Strict regulations will be enforced, with boat operators required to conduct thorough checks on vessel conditions and safety equipment, including life jackets and lifebuoys, reported Pattaya Mail.

Regular inspections for drugs will also be carried out to maintain a secure environment for all travellers amid the festive celebrations.

In related news, the Tourism Authority of Thailand (TAT) is anticipating a robust tourism influx from North and South America this year, with a projection of at least 1.5 million tourists – a figure that mirrors the 2019 statistics. This surge is attributed to the confluence of the Songkran celebrations and the Easter holiday in April.

Continue Reading

Business

Chiang Mai tourism expects rebound despite hotel booking slump

Published

on

By

hotel booking slump

Chiang Mai, once bustling with tourists, is currently facing a downturn in hotel bookings as of Wednesday.

According to La-iad Bungsrithong, advisor to the Northern Thai Hotels Association, reservations are only at 30% capacity compared to the same period last April.

Despite this gloomy scenario, there is a glimmer of hope on the horizon. La-iad anticipates that occupancy rates will rebound to 70% during the upcoming Songkran Festival.

Scheduled from April 13 to 15 in Chiang Mai, the festival is expected to draw a large number of tourists. Some areas have even designated April 1 as the kickoff for water play festivities.

In related news, Chiang Mai tourism remains optimistic about a recovery despite the current slump in hotel bookings.

Traditionally favored as a cool winter retreat, Chiang Mai has faced additional challenges, notably air pollution. La-iad expressed optimism about a potential increase in tourist numbers by April, provided that the PM2.5 issues are effectively addressed.

“Chiang Mai is currently grappling with alarming levels of air pollution.”

However, this problem extends beyond Chiang Mai, affecting the entire northern region of Thailand. The air pollution crisis significantly impacted the tourism industry in March, causing hotel occupancy rates to drop to 50% from the expected 60%, according to La-iad.

She emphasized the necessity for a comprehensive plan from the Thai government to tackle air pollution. While this might not directly affect local businesses, the contaminated air, high in PM2.5, poses significant health risks.

“The PM2.5 issue requires a nationwide approach that entails concrete and comprehensive plans from the government.”

Additionally, La-iad proposed that Chiang Mai could benefit economically and in terms of tourism with the establishment of an entertainment complex. This could potentially replace the unregulated underground gambling dens. However, she stressed the importance of stringent legal measures and regulations to mitigate any potential societal issues stemming from the casinos.

“However, stringent legal measures and regulations must be carefully implemented to prevent any societal problems arising from the casinos.”

Continue Reading

Trending