Five Chinese nabbed in loan-shark investigation

[webfact]

Five Chinese nabbed in loan-shark investigation

By THE NATION

 

 

Police said five Chinese nationals have been arrested for running the “True Cash Pro” mobile app, which provided unlicensed personal loans at higher interest than the rate specified by the Bank of Thailand.

 

“After receiving complaints from several people that the company behind the app demanded high interest on personal loans, we tracked down the operation to a building in Pattaya, Banglamung district, Chonburi,” announced Region 5 Economic Crime Suppression Division chief Pol Col Phadol Chandon on Monday (June 22). “Some plaintiffs reported that they were harassed and threatened on the phone to pay interest of 22-28 per cent to the company.”

 

The Central Investigation Bureau collaborated on the operation.

 

 

Investigations revealed that True Cash Pro Company has recorded cash flow of more than Bt100 million per month and over 10,000 customers.

 

Apart from arresting the five Chinese nationals that run the company, officials also confiscated 11 laptop computers, 11 desktop computers and 35 mobile phones during the raid on its Chonburi office.

 

The bureau has now requested a court order against a Bangkok-based debt collecting company contracted by True Cash Pro. The company reportedly collects repayments from True Cash Pro customers at a fee of Bt580 per person.

 

Officials have seized six bank accounts from both companies with total deposits of Bt22 million.

 

Source: https://www.nationthailand.com/news/30390092

 

-- © Copyright The Nation Thailand 2020-06-22

 

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[phkauf]

These Chinese criminals are going to do to Thailand what they did to Cambodia. Sihanoukville has become a Chinese gangster town and the Cambodians struggle to control things. They are going to do the same with Pattaya. Enjoy the show.

[mikebell]

Arresting the competition.

[ChipButty]

The present climate this will be the new normal

[UnkleMoooose]

The Chinese are ahead of even the Nigerians and Arabs in terms of scams and dishonesty, and they are also the filthy animals whose depraved habits inflicted this covid farce on the world, yet the Thai government insists that they will be the first group allowed back in. Thais have a very skewed logical compass.

[Burma Bill]

19 hours ago, phkauf said:

Sihanoukville has become a Chinese gangster town and the Cambodians struggle to control things.

Not at the moment!  Quotes for reference:-

 

"PHNOM PENH (Reuters) - Cambodian Prime Minister Hun Sen on Monday ordered all casinos to close to curb the spread of the coronavirus"

 

"Thousands lose jobs, casinos shut as Cambodia bans online gambling"

 

"The move led to thousands of worker layoffs. Radio Free Asia claimed some 120,000 Chinese workers left Cambodia in the weeks after Hun Sen announced the end of online gaming. More than 7,000 Cambodians who worked in online gaming lost their jobs"

 

 

[phkauf]

5 hours ago, Burma Bill said:

Not at the moment!  Quotes for reference:-

 

"PHNOM PENH (Reuters) - Cambodian Prime Minister Hun Sen on Monday ordered all casinos to close to curb the spread of the coronavirus"

 

"Thousands lose jobs, casinos shut as Cambodia bans online gambling"

 

"The move led to thousands of worker layoffs. Radio Free Asia claimed some 120,000 Chinese workers left Cambodia in the weeks after Hun Sen announced the end of online gaming. More than 7,000 Cambodians who worked in online gaming lost their jobs"

 

 

Fair point.

And now the town is deserted with half built projects everywhere, roads all torn up and no work being done. The locals are far worse off now since the Chinese run businesses spiked rents and pushed them out. What was a nice, slightly seedy town on the coast has become an utter mess. 

But I guess you are correct the Cambodians now control it for what that's worth. I stand corrected.