Bangkok: Big Chinese backed loan sharking operation busted in Huay Kwang

[rooster59]

Image: Daily News

Thai police made dozens of arrests of Chinese and Thai nationals in the sleepy backstreets of Sutthisan in the Huay Kwang area of Bangkok yesterday.

They busted a large loan sharking operation that was running out of the eighth floor of the Nasa Garden hotel in Soi 20 Mithuna. 

They were using six rooms and had thousands of people on their books willing to pay huge interest rates for short term weekly loans. 

Arrested were a Chinese manager called Fong, 39, and a 30 year old Chinese technician called Hong. 

A further 62 Thai workers were arrested. 

Sixty two computers and 47 phones were taken into evidence. 

As an example of a loan, Daily News said that if a client borrowed 2,000 baht they would only get 1,300 and be expected to pay the full sum back after a week.

If they didn't they would get phone calls to demand payment.

Each staffer had 140 accounts to follow up on and 20 million baht was being loaned a day. 

Chinese investors are believed to be behind the operation, the latest bust of several this week that use online applications. 
 

-- © Copyright Thai Visa News 2021-03-20

 

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[tonray]

Here on 60 day loan shark extensions

[John Drake]

Who did the loan sharks hire as muscle and enforcers?

[bradiston]

Incredible isn't it (or not). Every day I read about yet another online scam. And 99% mention Chinese involvement and/or backing. So what's the love affair with the Chinese? Costing the country millions.

[sammieuk1]

"Big Chinese" sounds like a policeman ????

[RichardColeman]

They pointing or grabbing doughnuts ?

[AlfHuy]

Strange that lately, in every scam, Chinese are involved. Before, those brothers would never have been mentioned.

[bradiston]

19 minutes ago, AlfHuy said:

Strange that lately, in every scam, Chinese are involved. Before, those brothers would never have been mentioned.

Yes, and for sneaking across the border too

[mrfill]

7 million baht a day profit. 

Can't imagine why they set these operations up....  ????

 

[fangless]

4 hours ago, John Drake said:

Who did the loan sharks hire as muscle and enforcers?

I assume that was a rhetorical question, if not my vote is the BIB.

[sanuk711]

4 hours ago, John Drake said:

Who did the loan sharks hire as muscle and enforcers?

A further 62 Thai workers were arrested.  Each staffer had 140 accounts to follow up on and 20 million baht was being loaned a day.

[Artisi]

Sounds as if Grab haven't been delivering the lunch boxes on time. 

[dbrenn]

15 hours ago, John Drake said:

Who did the loan sharks hire as muscle and enforcers?

Locals, probably. I remember when I was having a beer outside a mate's apartment building. Two thick set Thai blokes pulled up on big bikes, and parked next to my big bike. They were really friendly, and we talked bikes for a while. Then they knocked on a nearby ground floor apartment door, going on to threaten the people who answered that they would be 'in danger' if they didn't pay up whatever they owed. Smiling to us as they got back on their bikes, they really were quite scary.

No shortage of local muscle in the debt collection business.

[ding]

40 minutes ago, dbrenn said:

Locals, probably. I remember when I was having a beer outside a mate's apartment building. Two thick set Thai blokes pulled up on big bikes, and parked next to my big bike. They were really friendly, and we talked bikes for a while. Then they knocked on a nearby ground floor apartment door, going on to threaten the people who answered that they would be 'in danger' if they didn't pay up whatever they owed. Smiling to us as they got back on their bikes, they really were quite scary.

No shortage of local muscle in the debt collection business.

Professionals like that would be scary if you owed money. I'm glad Thai Police are catching these scammers who are draining money out of Thailand.

[dbrenn]

7 minutes ago, ding said:

Professionals like that would be scary if you owed money. I'm glad Thai Police are catching these scammers who are draining money out of Thailand.

I'm sure a lot of off duty policemen work in the debt collection industry. 

[herfiehandbag]

Financing a high speed rail link?

[petedk]

22 hours ago, bradiston said:

Incredible isn't it (or not). Every day I read about yet another online scam. And 99% mention Chinese involvement and/or backing. So what's the love affair with the Chinese? Costing the country millions.

Maybe that's why 2 Chinese men have been renting (staying at) 2 houses near us for the past 10 days. The houses cost 60K a day each. The men NEVER go out. All food and 3 or 4 girls are delivered to them every day. Yesterday the girls went shopping alone. Today there were about 15 - 20 paper bags outside from Prada, Channel, Moschino, Gabbana and others. At 8 am the girls were picked up one by one and I noticed that the cars were already full of similar bags. The same girls are delivered to all the parties.

The houses are owned by a group of Chinese men who rent them out for parties (always Chinese guests). Once when there was a group of 15 or so and they were very noisy and threw fireworks at my dog, I exploded in anger and said "Now I am going to the police". I am not joking, in less than 3 minutes they had grabbed all their belongings, jumped in the cars and were gone.

Sometimes 20 or so men arrive and they sit indoors VERY quietly. I wonder what they are doing.

No point in going to the police as we are sure they know what's going on. 

[dbrenn]

5 minutes ago, petedk said:

Maybe that's why 2 Chinese men have been renting (staying at) 2 houses near us for the past 10 days. The houses cost 60K a day each. The men NEVER go out. All food and 3 or 4 girls are delivered to them every day. Yesterday the girls went shopping alone. Today there were about 15 - 20 paper bags outside from Prada, Channel, Moschino, Gabbana and others. At 8 am the girls were picked up one by one and I noticed that the cars were already full of similar bags. The same girls are delivered to all the parties.

The houses are owned by a group of Chinese men who rent them out for parties (always Chinese guests). Once when there was a group of 15 or so and they were very noisy and threw fireworks at my dog, I exploded in anger and said "Now I am going to the police". I am not joking, in less than 3 minutes they had grabbed all their belongings, jumped in the cars and were gone.

Sometimes 20 or so men arrive and they sit indoors VERY quietly. I wonder what they are doing.

No point in going to the police as we are sure they know what's going on. 

I don't blame you for telling them not to throw fireworks at your dog, but it's always better to avoid people like this and look the other way. If they're that cashed up, and if they are criminals, then they'll have enforcers in tow as well as pretty girls. Let the cops deal with it, assuming they're not part of it.

[Mavideol]

On 3/20/2021 at 9:31 AM, rooster59 said:

Arrested were a Chinese manager called Fong, 39, and a 30 year old Chinese technician called Hong. 

and RTP didn't get suspicious with an operation name  HongFong   ????????????

[petedk]

16 minutes ago, dbrenn said:

I don't blame you for telling them not to throw fireworks at your dog, but it's always better to avoid people like this and look the other way. If they're that cashed up, and if they are criminals, then they'll have enforcers in tow as well as pretty girls. Let the cops deal with it, assuming they're not part of it.

I agree with you entirely. I had difficulty in holding the dog as she panicked, as I was walking past. It was an uncontrolled outburst.

Pretty sure the cops are involved. I have seen "things happen early in the mornings"

[AlfHuy]

20 hours ago, petedk said:

Maybe that's why 2 Chinese men have been renting (staying at) 2 houses near us for the past 10 days. The houses cost 60K a day each. The men NEVER go out. All food and 3 or 4 girls are delivered to them every day. Yesterday the girls went shopping alone. Today there were about 15 - 20 paper bags outside from Prada, Channel, Moschino, Gabbana and others. At 8 am the girls were picked up one by one and I noticed that the cars were already full of similar bags. The same girls are delivered to all the parties.

The houses are owned by a group of Chinese men who rent them out for parties (always Chinese guests). Once when there was a group of 15 or so and they were very noisy and threw fireworks at my dog, I exploded in anger and said "Now I am going to the police". I am not joking, in less than 3 minutes they had grabbed all their belongings, jumped in the cars and were gone.

Sometimes 20 or so men arrive and they sit indoors VERY quietly. I wonder what they are doing.

No point in going to the police as we are sure they know what's going on. 

60K each day? Wow, that must be a super mansion.

[petedk]

3 hours ago, AlfHuy said:

60K each day? Wow, that must be a super mansion.

That's what their website says.

As I said there are 2 houses, door to door and there is 1 Chinese man in each house (plus an assortment of girls in the evenings)

They used to cost 200K a month and were usually occupied by British expats. Then the Chines bought them and the price is 300K a month or 60K a day.

 

They are not super mansion, but i think there are 5 bedrooms. I think it is the location that drives the prices up.

 

Edited March 22, 2021 by petedk