Bangkok: The Central Investigation Bureau launched Operation “GHOST COMPANY” to investigate over 200 suspicious corporate entities. The investigation followed the discovery that some locations had only house pillars, and the owners were still in prison. However, their house numbers were used to establish companies and open corporate mule accounts, generating over 1 billion baht in cash flow.

According to Thai News Agency, the operation targeted these ghost companies due to their involvement in fraudulent activities. The companies were found to be using the identities of individuals who were unaware of their involvement in any corporate activities, exploiting their details to open bank accounts and facilitate illegal cash flows.

The authorities have identified these companies as part of a larger scheme to launder money and evade taxes. The investigation revealed that these ghost companies were set up with the sole purpose of moving large sums of money without drawing attention from regulatory bodies.

The Central Investigation Bureau is working closely with financial institutions to track the flow of money and identify the masterminds behind these operations. The investigation is ongoing, and further actions are expected as more information is uncovered.