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Explosive Accusations Fly High as Sansiri’s Multibillion Baht Land Deal Raises Eyebrows – Inside Thailand’s High-Stakes Real Estate Drama!

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In response to a series of allegations directed towards Sansiri, Chairman of the Board, Apichart Chutrakul vehemently denied any wrongdoing. The series of events centered around an acquisition of land on the popular Soi Thonglor for a whopping 1 billion baht. The land has been earmarked for the development of the luxurious KHUN by YOO condominium, he added, citing that all proceedings had been strictly within the realms of legality and devoid of foul play.

Chuwit, another key player in the saga, has put forth a string of allegations questioning the integrity of Sansiri, leading all the way up to its leadership. He singled out Srettha as the primary candidate for his allegations, claiming that Sansiri had operated under questionable circumstances under Srettha’s reign. His claims grew increasingly aggressive, threatening to expose supposed wrongdoings if Srettha did not willingly suspend his bid for the Prime Minister’s office.

On this matter Apichart retorted, “It beggars belief why Sansiri’s operations and Srettha’s ambition in politics should be interlinked in any way.” He went on to defend Srettha’s legitimacy, stating that his journey had always been upright, keeping within the laws.

Among Chuwit’s allegations, he mentioned a claim that Sansiri had capitalized on a nominee company, led by a housemaid and two security guards as shareholders. He stated that the firm, known as N&N Assets Co Ltd, supposedly acted as a middleman in the purchase of land from the Land and House Bank for a sum of 465 million baht.

Furthermore, he put forth another allegation, stating that Anawat Co Ltd, a subsidiary firm of Sansiri, had allegedly bought the plot from N&N for the sum of 1 billion baht. He went on to mention that Anawat had turned a swift profit by selling the land to Sansiri for the development of the exclusive KHUN by YOO property.

To add fuel to the fire, Chuwit made the bold assertion that Anawat had loaned a staggering 1 billion baht to N&N, enabling the maid and security guards to make the initial purchase of the plot.

In response to these eyebrow-raising allegations, Apichart calmly clarified that Sansiri’s reluctance to directly purchase the land was due to numerous legal complexities attached to the said plots of land. Therefore, it was a practical solution for the subsidiary to prepare and mitigate these legal obstacles before the deal was sealed.

The newly appointed CEO of Sansiri categorically denied the accusation that Anawat had borrowed 1 billion baht to N&N. He emphasized that the mortgage contract was merely a confirmed booking for the land, awaiting final purchase. He concluded his clarification by stating that N&N was actively engaged in navigating through the legal terrains of the deal.

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