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MYANMAR – The junta council issued arrest warrants for two people who hosted real estate fairs selling condominiums in Thailand and also announced that they arrested three people who purchased rooms in Thailand.
Director Aung Kyaw Tun and General Manager Min Thu Kyaw from Min Thu Company in Pazundaung Township had arrest warrants issued after them for holding two real estate fairs at Sedona Hotel and it is announced that Mr. Aung Kyaw Tun was detained while Mr. Min Thu Kyaw is on the run.
In addition, it is said that three individuals who purchased rooms in Thailand condominiums were also arrested for opening bank accounts outside the country and conducting transactions.
A source inside the junta council’s Ministry of Home Affairs shared that Bureau of Special Investigation (BSI) is investigating the history, sources of income and tax status of those who purchased condominiums in neighbouring Thailand.
During the first four months of 2024, Myanmar citizens purchased 392 condominium rooms worth 2.2 billion THB in Thailand and Thai media reported that Myanmar nationals ranked second among the foreign nationals purchasing real estate in Thailand. It is said that the junta Ministry of Home Affairs issued the order to investigate following those reports.