2 Chinese men arrested in 5 billion Bangkok hotel money laundering
Luxury property deal masks complex transnational financial crimes
Police arrested two Chinese men at Suvarnabhumi International Airport in connection with a money laundering operation involving the purchase of a hotel in Bangkok for 5 billion baht.
One of the suspects, a Chinese man named Yin Qian Ying, who is currently detained at Bangkok Remand Prison, authorised a former police officer, Kittinan Aksornsom, to file a complaint against another Chinese national, 41 year old Zhao Chuanbo.
Qian Ying accused Chuanbo of embezzling his assets through complex methods and claimed that Chuanbo is a key member of a criminal gang wanted by Interpol.
Following an investigation into the complaint, police discovered that Chuanbo entered Thailand to engage in money laundering and recently bought a hotel in the Silom area for 5 billion baht as part of the laundering operation.
Armed with clear evidence, police arrested Chuanbo and another suspect, 39 year old Huang Jianping, at Suvarnabhumi Airport on Tuesday, May 20. The arrests were made upon their arrival on the second floor of the terminal.
The two Chinese nationals face the following charges:
- Section 337 of the Criminal Law: Coercing another person into giving or agreeing to give property or any benefits by using force or violence, or by threatening harm to life, freedom, reputation, or property. Penalty: up to five years’ imprisonment and a fine of up to 100,000 baht.
- Section 188 of the Criminal Law: Damaging, destroying, concealing, or rendering useless a document belonging to another person. Penalty: up to five years’ imprisonment and a fine of up to 10,000 baht.
The suspects are currently being held at the Nonthaburi Provincial Court, where their bail request was denied.
As for Qian Ying, details of his criminal activities were not disclosed, but police confirmed that he will soon be extradited to China for further legal proceedings and sentencing.
In a related development, another crackdown on a Chinese-run money laundering network was reported last week in Rayong province. In that case, 13 Chinese and 18 Thai nationals were arrested for operating a large-scale money laundering scam.
Several mule account holders were found to have been held captive by the gang to facilitate identity verification for financial transactions. Police searched the properties where the victims were detained and seized multiple assets worth over 6 million baht.
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