Police seize loan sharks' assets worth 70 million baht

[webfact]

Police seize loan sharks' assets worth 70 million baht

 

 

SI SA Ket, 26th October 2018 (NNT)-Acting Immigration Police Bureau Chief, Pol Maj Gen Surachet Hakpal , says assets worth 70 million baht have been seized during an operation to combat violent loan sharks in Si Sa Ket province. 

According to Pol Maj Gen Surachet , Thailand’s Action Taskforce for Information Technology Crime Suppression (Tactics) and a group of local Si Sa Ket police and soldiers raided homes of suspected mafia loan sharks in seven locations in Kantharalak , Muang and Rasisai districts after they were found to have been treating their debtors unfairly. 

Their assets, which were obtained illegally from their debtors, were also confiscated during the raids. These items are expected to be returned to the previous owners. 

Police are also collecting evidence of loan sharks’ mistreatment of their debtors in other provinces including Khon Kaen, Kalasin and Ubon Ratchathani before taking legal action. They will be charged with money laundering if sufficient evidence exists. 

Meanwhile, Deputy Prime Minister and Defense Minister Gen Prawit Wongsuwan is scheduled to preside over a ceremony to return land title deeds to people who are the victims of loan sharks. More than 7,700 land title deeds have been already been returned to the original owners since the operation to crackdown on mafia loan sharks began.

 

-- nnt 2018-10-26

[Mickmouse1]

Brilliant...

[unamazedloso]

more money to put back in to safety for tourism then?

[tagalong]

I'm in the wrong profession as a teacher...

[Pedrogaz]

Just when you lose faith in an institution, a story comes along that warms your heart. One thing that intrigues me....why not charge them with usury instead of money laundering?

[Hayduke]

 

So after these arrests, what happens to the outstanding debts and the ‘black books’ listing all of these debts? These ‘books’ can be immensely valuable.

 

If you owed say…a million Baht…would your debt be wiped clean when the loan shark goes to jail? Are the police going to walk away from all this money? Hardly seems possible. It follows that there must be some mechanism to ensure cash flow and prevent borrowers from escaping their illicit debts.

 

Therefore it would be logical for the black books to be distributed to ‘new’ loan sharks who would then collect the debt. Loan sharks that have working relationships with the local ’authorities’ and agree to generous profit sharing.

 

So...despite all the media hype and PR scripted headlines…loan sharking will continue to grow and flourish. Sadly, it isn’t even close to going away.

 

 

Edited October 27, 2018 by Hayduke

[rtco]

21 hours ago, webfact said:

Thailand’s Action Taskforce for Information Technology Crime Suppression (Tactics)

Surely it should read TATITCS or even TACTITS or event TAT(this)I(is)T(Thailand)CS or whatever

[KhunBENQ]

Big Joke, acting immigration chief in tourist police uniform deals with Thai loan sharks.

Seems he is not challenged enough by his new job.

Still time to travel all of the country for the photo stunt.

 

 

[colinneil]

6 minutes ago, KhunBENQ said:

Big Joke, acting immigration chief in tourist police uniform deals with Thai loan sharks.

Seems he is not challenged enough by his new job.

Still time to travel all of the country for the photo stunt.

 

 

Come on you expect him to buy a new uniform?

Poor sod cant afford 1, spends all his money travelling around the country looking for photo ops.

[KhunBENQ]

9 minutes ago, colinneil said:

Come on you expect him to buy a new uniform?

To be fair: he can't change until he gets his third star and then remove the "acting".

And I have an idea where the process is stuck. But not acceptable to write here.

Edited October 27, 2018 by KhunBENQ

[Wake Up]

I don’t like loan sharks and applaud the police doing something. 

[connda]

Loan sharks and police asset seizure sharks - two of a kind swimming in the same tank.

[connda]

57 minutes ago, KhunBENQ said:

Big Joke, acting immigration chief in tourist police uniform deals with Thai loan sharks.

Seems he is not challenged enough by his new job.

Still time to travel all of the country for the photo stunt.

 

 

Have the excessive cue lines in Chiang Mai been addressed yet?  Probably not as that isn't a 'limelight', photo-op moment. 

[sanemax]

7 minutes ago, connda said:

Have the excessive cue lines in Chiang Mai been addressed yet?  Probably not as that isn't a 'limelight', photo-op moment. 

I always seem to have problems finding a decent cue , most are old and well worn and the tip has sometimes broken off

[natway09]

Great to hear something being done.

Better late than never. they are vultures

[Jingjock]

5 hours ago, Pedrogaz said:

usury instead of money laundering?

This word got me beat (Usury)

[Winky Wilson]

Lietenant looks like, you don't look tough to me now loan shark guy, I'm sending you to the Hilton Temple where you wil give up all your possessions while I buy a brand new Patek Phillipe watch at Siam Paragon.

[simoh1490]

1 hour ago, Jingjock said:

This word got me beat (Usury)

Unfair lending laws.

[SOTIRIOS]

...hope they do more of the same...and go back 10-20 years....

 

...so many peoples lives were destroyed at the hands of unscrupulous money lenders...

 

...who then would romp around society with condescending attitudes....

 

...and paved the way for their every whim...regardless of legality....

 

...after all....they got away with it for so long....

 

 

Edited October 27, 2018 by SOTIRIOS
...changed whims to whim...

[TPI]

22 hours ago, Hayduke said:

 

So after these arrests, what happens to the outstanding debts and the ‘black books’ listing all of these debts? These ‘books’ can be immensely valuable.

 

If you owed say…a million Baht…would your debt be wiped clean when the loan shark goes to jail? Are the police going to walk away from all this money? Hardly seems possible. It follows that there must be some mechanism to ensure cash flow and prevent borrowers from escaping their illicit debts.

 

Therefore it would be logical for the black books to be distributed to ‘new’ loan sharks who would then collect the debt. Loan sharks that have working relationships with the local ’authorities’ and agree to generous profit sharing.

 

So...despite all the media hype and PR scripted headlines…loan sharking will continue to grow and flourish. Sadly, it isn’t even close to going away.

 

 

Damn! Just when I thought "something" was going to be ok!! I'm so naive!!