Loan Sharks Arrested in Five Thai Provinces
Police Crack Down on Illegal Lending Operations
Police have arrested eight suspected loan sharks in a series of raids across Bangkok, Chiang Mai, Chon Buri, Khon Kaen, and Pathum Thani as part of a nationwide crackdown on illegal moneylending.
Operations in Chon Buri
In Chon Buri, officers arrested two men and a woman for charging 2% daily interest, equivalent to an astronomical 730% annual rate. The suspects were identified as:
- Pong, 32
- Pimpan, 48
- Anchalee, 29
Police reports indicate that this group distributed lending leaflets in public areas at night and allegedly used weapons to intimidate borrowers into repaying their debts daily. Their illegal operation reportedly handled 12 million baht per day in financial transactions.
Social Media Loan Scam in Khon Kaen
Authorities in Khon Kaen arrested Nathanan, 31, who ran the Facebook page “Mc Money Credit” to attract potential borrowers. He primarily targeted business owners, charging an exorbitant 1.546% daily interest, or 564% annually.
Pathum Thani Loan Scheme
Three suspects in Pathum Thani—Suratin, 63, Rasarin, 59, and Pataraporn, 24—were arrested for charging 10% monthly interest, amounting to 120% annually.
Police discovered that these loan sharks forced borrowers to sign agreements with falsely inflated loan amounts. For instance, a debtor borrowing 50,000 baht was coerced into signing documents stating they owed 250,000 baht. This fraudulent practice allowed lenders to take legal action and seize assets from borrowers.
Vehicle Seizures in Chiang Mai
In Doi Saket, Chiang Mai, police arrested Kalaya, 46, who charged 186% annual interest and required borrowers to pledge their vehicles as collateral. Upon raiding her home, police discovered numerous seized cars and motorcycles.
Authorities Take Action
Pol Maj Gen Thatphum Charuprat, commander of the Economic Crime Suppression Division, stated that these arrests are part of ongoing efforts to combat illegal moneylending and protect vulnerable borrowers. Authorities continue to investigate further financial networks involved in illegal lending.
