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Illegal Myanmar junta head Min Aung Hlaing’s family purchased a luxury property in the Issara Residence Rama 9 development in Bangkok in 2022 for 98 million baht (nearly US$3 million), according to a new investigation by Justice For Myanmar.
The purchase took place in the second year of Min Aung Hlaing’s illegal coup attempt and as he was intensifying a nationwide campaign of terror against the people, with widespread killings, mass arbitrary arrests and torture, rape and sexual violence, the bombing of schools and hospitals, and forced displacement into Thailand and other neighbouring countries.
The property was sold by the Stock Exchange of Thailand listed company Charn Issara Development Public Company Limited and was transferred to Emerald Princess Company Limited, a company owned by three Thai citizens.
Based on an analysis of Thai corporate records, land records, publicly available information and confidential sources, Justice For Myanmar can conclude that Emerald Princess is a proxy company for Min Aung Hlaing’s family that was set up with Charn Issara’s support a week before the property transfer to hide the identity of the buyers and circumvent Thai law prohibiting foreigners from owning land.
The purchase was negotiated in the name of Min Aung Hlaing’s daughter-in-law, Myo Yadana Htaik, who is not sanctioned in any jurisdiction and the use of her name may have been intended to bypass sanctions.
The USA, UK, EU, Canada and Australia should close sanctions loopholes by designating Myo Yadana Htaik and Min Aung Hlaing’s wife, Kyu Kyu Hla, who is also not sanctioned in any jurisdiction.
There are reasonable grounds to believe that the funds used to purchase the property derive from acts of corruption due to Min Aung Hlaing’s control over two military conglomerates that have engaged in widespread asset theft, and the fact he led a coup attempt in 2021 that involved the illegal seizure of state assets.
Acts of corruption constitute a predicate offence under Section 3 of Thailand’s Anti-Money Laundering Act, even if committed overseas, and that the use of the proxy company Emerald Princess may amount to criminal offences under Section 113 of the Land Code Act and Section 36 of the Foreign Business Act of Thailand.
Justice For Myanmar calls on Thai authorities to urgently investigate Min Aung Hlaing and his family members, the junta crony Tun Min Latt, Emerald Princess, Charn Issara and their management and use all powers under the relevant laws, including fines, prosecution and confiscation of assets.
The Charn Issara sale was negotiated on behalf of Min Aung Hlaing’s family by Tun Min Latt, immediately before his September 2022 arrest on charges of drug trafficking, money laundering and organised crime (he was acquitted in 2024).
Justice For Myanmar has additionally revealed new details about Tun Min Latt’s property portfolio in the Belle Grand Rama 9 condominium, which includes one luxury apartment he purchased after the military’s illegal coup attempt. Belle Grand Rama 9 is owned by the Thai publicly listed company Grand Canal Land Public Company Limited (G Land).
Tun Min Latt also assisted Min Aung Hlaing’s son, Aung Pyae Sone, to purchase an apartment in Belle Grand Rama 9 in 2017, which is currently frozen due to his failure to pay tax.
The Belle purchases require investigation and seizure by Thai authorities under the Anti-Money Laundering Act.
Justice For Myanmar shared these findings with Charn Issara and Grand Canal, asked additional questions and provided them with an opportunity to respond. They did not reply.
Justice For Myanmar spokesperson Yadanar Maung says: "It is deplorable that, as war criminal Min Aung Hlaing waged a terror campaign against the people of Myanmar with total impunity, his family were able to invest their ill-gotten wealth in Thailand.
"This was possible because of the Thai government’s failure to prevent the flow of illicit funds into the country from the junta, their families and cronies, and block their illegal property purchases.
"These high value real estate purchases violate Thai law and the Thai government now needs to urgently step up, investigate and prosecute those involved, including Min Aung Hlaing and his family members, and seize their assets. These assets must be withheld until there is a legitimate federal democratic government in Myanmar that they can be returned to.
"The Myanmar people have now entered their sixth year of courageous resistance against a brutal junta and governments must stand with them and act to block the junta’s access to funds, arms, equipment and aviation fuel."
More information:
Read our investigation into Thai property purchases by Min Aung Hlaing’s family here
