Five facing charges for illegal sale of foreign condos

Currently, the government emphasizes forging economic growth in a proper momentum. Upon tip-off, relevant security forces conducted an investigation into two suspects, Minn Thu Company Director U Aung Kyaw Tun and General Manager U Min Thu Kyaw, for selling Thai condominiums illegally. The Minn Thu Company is located in Pazudaung Township, Yangon Region.
According to the inspection, Director U Aung Kyaw Tun and General Manager U Min Thu Kyaw (still at large) organized a condominium sales event at Sedona Hotel in Yangon two times without any permission from authorities. They collected the payment in Myanmar kyats and transferred it to Thailand via an illegal hundi system.
Moreover, it was found that U Nay Myo Han, U Min Tun and Daw Myat Myat Mon, who purchased Thai property sold by the Minn Thu Company, made payments via their bank accounts opened at Thai banks illegally without the permission of the Central Bank of Myanmar.
Therefore, action will be taken against five offenders in accordance with the law.
People are urged to confidentially inform relevant security forces about those running condominium sales illegally. — MNA/KTZH

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