The State Administration Council’s Information Team announced that they have arrested one person who sold and three people who bought condominium units in Thailand through an expo held in Myanmar. They added that action will be taken against individuals selling and buying condominiums in foreign countries through online platforms.

According to the announcement, security forces called in and interrogated officials from Minn Thu Company and other relevant sources after receiving information that U Aung Kyaw Htun, the director, and U Min Kyaw Thu, the general manager, from the company located at No. (155/157), 8th floor, 51st Street, Pazundaung Township, Yangon Region, were found to be illegally selling condominium units from Thailand domestically. The investigation revealed that U Aung Kyaw Htun and U Min Kyaw Thu (currently evading arrest) of Minn Thu Company organized two sales expos at the Sedona Hotel in Yangon without obtaining the necessary permissions for selling Bangkok condominium units in Myanmar. It was discovered that payments from the buyers in Myanmar kyats were unlawfully transferred to Thailand.

Furthermore, U Nay Myo Han, U Min Tun, and Daw Myat Myat Mon, who had illegally purchased condominium units from abroad through Minn Thu Company, transferred the payments through unauthorized bank accounts in Thailand without the permission of the Central Bank of Myanmar. As a result, legal action will be taken against Minn Thu Company's director U Aung Kyaw Htun, general manager U Min Kyaw Thu, and the three individuals, U Nay Myo Han, U Min Tun, and Daw Myat Myat Mon, who purchased condominiums abroad and opened unauthorized bank accounts.

The Information Team also announced that they will continue to investigate and take action against other companies and individuals who are illegally selling and buying condominium units in foreign countries through online platforms. The public is urged to report any knowledge of such illegal activities to the relevant authorities.