A 30-year-old Israeli citizen was arrested in Thailand on suspicion of using local nominees to acquire land on the island of Koh Phangan in violation of Thai laws restricting foreign ownership of real estate.

According to Thai authorities, the suspect was taken into custody Tuesday at the airport on the island of Koh Samui as part of a broader investigation into alleged schemes designed to conceal foreign ownership of land through the use of Thai citizens serving as nominal shareholders.

Police allege that the Israeli held shares in a company established through an accounting firm that allegedly arranged for Thai nationals to act as proxy shareholders. Authorities claim that land on Koh Phangan was purchased through the company and that the suspect intended to build a private vacation home on the property.

The arrest occurred shortly after the suspect re-entered Thailand. Officials said a regional court in Koh Samui had issued an arrest warrant for him on May 21. During an initial interview with investigators, the suspect reportedly acknowledged that he was the individual named in the warrant.

Authorities further allege that he left Thailand before investigators were able to carry out additional searches connected to the case.

The arrest forms part of a large-scale operation targeting similar arrangements throughout the Koh Phangan area. Thai law enforcement agencies have been investigating networks suspected of using local citizens as fronts to circumvent restrictions on foreign ownership of land.

As part of the ongoing crackdown, authorities issued 45 arrest warrants in mid-May. To date, 27 suspects have reportedly been taken into custody.

Police said the investigation remains active and is examining the possible involvement of the accounting firm as well as Thai nationals who allegedly served as nominee shareholders in the transactions.

{Matzav.com}