Loan shark jailed for two years

[snoop1130]

Loan shark jailed for two years

By Thawee Apisakulchat 
The Nation

 

Supitcha Apichatphokhin

 

The Supreme Court on Wednesday upheld two previous court rulings to hand a two-year jail sentence to Nakhon Phanom-based loan shark Supitcha Apichatphokhin, 58, for perjury.

 

The court acquitted Supitcha's clerk.

 

Supitcha and ex-employee Panitta Poungphaka, 48, had been sentenced to a two-year term each by the previous courts, but the Supreme Court released Panitta. 

 

The perjury lawsuit against Supitcha was filed by one of her former debtors, Salika Khonchalard, 71. 

 

After the verdict, Salika said: “What goes around, comes around. I forgive Supitcha as she has to pay for what she did. This case should serve as a cautionary tale for illegal money-lenders who take advantage of others to reap benefits."

 

Supitcha now faces a lawsuit filed by 42 debtors in May 2017 over allegedly illegal loan services that charged excessive interest rates. 

 

The primary court in March punished Supitcha and her two subordinates for illegal money-lending without the Bank of Thailand's permission and for charging illegal interest rates. 

 

The court sentenced Supitcha to 51 months in jail while her employee Sombat Phromthai was given a 60-month term and another employee Nuanmanee Sensri was fined at Bt17,500. 

 

All three defendants appealed to the Appeals Court.

 

The dispute between Supitcha and Salika started after Salika put three plots of land up as collateral for a Bt580,000 loan to fund her daughter and son-in-law’s travel to find work in South Korea in 2009. Salika was then told at the land office that she would receive only Bt520,000 as Supitcha had deducted Bt60,000 for a three-month advance payment of the 3 per cent a month interest rate and other fees.

 

When she collected the money from Supitcha’s motorcycle showroom, Salika was told to sign a document guaranteeing another loan worth Bt870,000 as an added condition. Salika said she signed it as she felt she had no choice. 

 

After Salika took a loan of Bt500,000 from a farmers' fund to repay all her debts, she was told she now owed Bt1.4 million. 

 

Supitcha brought the case to court until the Supreme Court in 2011 ruled that Salika only had to pay Bt520,000.

 

After paying that amount, Salika sued Supitcha and Panitta for perjury during the court trial.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30370607

 

-- © Copyright The Nation 2019-06-05

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[gunderhill]

yeah so  long as none of the "victims"  have to be held  accountable for their  own stupidity in the first  place.

[from the home of CC]

When I lived in a small village years ago the cops used to 'witness' these transactions, I imagine to add some credibility to this shady business. I have zero respect for people who take advantage of others when they're down. Too bad it wasn't 20 years..

[bluesofa]

1 minute ago, gunderhill said:

yeah so  long as none of the "victims"  have to be held  accountable for their  own stupidity in the first  place.

True.

Stupidity, greed, irresponsibility.

[SOTIRIOS]

...whatever happened to seizing/confiscating ill-gotten gains/assets... from illegal activities...???

 

...otherwise....'crime does pay'....???

[Cereal]

Those illegal money lenders are scavenging buzzards who prey on the weak. They are ruiners of lives and should be put away for life.

 

Being a money lender is fine, some one has o be cuz the banks are just as bad on a different level. But, charging 36% interest per year pretty much guarantees the person will never be able to repay the loan.

 

Round them all up, they're way too easy to find, and throw them all away. Then, force the banks to be more accommodating to people in need.

[Scouse123]

I understood it all until her having to sign a guarantee for another 870K, that I could not fathom out at all if she hadn't borrowed anything to warrant it?

[gunderhill]

On 6/6/2019 at 8:03 AM, SOTIRIOS said:

...whatever happened to seizing/confiscating ill-gotten gains/assets... from illegal activities...???

 

...otherwise....'crime does pay'....???

The  only crime is  the stupidity of  people  getting themselves into debt for things they really dont need.

[gunderhill]

On 6/6/2019 at 8:21 AM, Cereal said:

Those illegal money lenders are scavenging buzzards who prey on the weak. They are ruiners of lives and should be put away for life.

 

Being a money lender is fine, some one has o be cuz the banks are just as bad on a different level. But, charging 36% interest per year pretty much guarantees the person will never be able to repay the loan.

 

Round them all up, they're way too easy to find, and throw them all away. Then, force the banks to be more accommodating to people in need.

Its a  business  not a   charity they always  have the option to say no, when its  your  own money let me know  how  long before  all these "needy"  people  bleed  you dry.