Police raided villas allegedly owned by Chinese crime networks in Thailand.

Central Investigation Bureau (CIB) on January 26 officers descended on five properties understood to be real estate investments made by Chinese syndicates in Chonburi province.

The raids, dubbed 'Operation Dragon Slayer', were launched following investigations that the villas - valued at more than 20 million baht (480,000 GBP) - had been bought through ill-gotten funds from cryptocurrency scams.

The buyers were listed as companies offering tour and rental services to Chinese tourists, who would pay in cash, digital assets, or foreign currencies.

Police Lieutenant Colonel Woraphon Lalitjirakul of the Economic Crime Suppression Division said: 'We found that there are more than 40 proxy legal entities in Chonburi fronting for Chinese owners.  

‘We have gathered evidence and are preparing to investigate further in order to take legal action against them.'

In December, police busted a Chinese gang running an illegal real estate agency in crime-ridden Pattaya City in the province.

The suspects, identified by officers as Liang Yuting, Su Zhixiang, Xi Sansan, Ting Tengyun and Zhang Zhikang, and 'stateless' worker Supachai Saeliao, were nabbed at an office opposite a mall in the Bang Lamung district on December 16.

They reportedly earned commissions by renting out or selling properties linked to Chinese call centre scam hubs in Thailand.

The suspects were charged for working without valid permits and illegally entering the country.

(1 GBP = 41.92 THB)