webfact Posted April 11, 2022 Share Posted April 11, 2022 Picture: Siam Rath Siam Rath reported that on Sunday the Region 9 police chief Pol Maj-Gen Krissada Kaewjandee led a raid on a property in Soi Pracharuamchai in Hat Yai, Songkhla. The police had search and arrest warrants after complaints of loan sharking in the area. Arrested was Arun Khun-aksorn, 43, who admitted to charging interest of 10% a month or 120% annually. The Thai law sets a limit at 15%. Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe He did this by business associated with running a vehicle pawn business. 28 cars and pick-ups - most with unpaid installments from hire purchase agreements - were found at two houses and a depot. Many had their licence plates obscured with bin bags. Aetna Platinum+ Light on premium, great on coverage -- © Copyright ASEAN NOW 2022-04-11 - Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. - Follow ASEAN NOW on LINE for breaking COVID-19 updates Get your business in front of millions of customers who read ASEAN NOW with an interest in Thailand every month - email [email protected] for more information 1 Link to comment Share on other sites More sharing options...
Popular Post Stocky Posted April 11, 2022 Popular Post Share Posted April 11, 2022 There's no shortage of loan sharks in Hat Yai. Wonder why they went for this guy, perhaps he was behind with his payments. 4 2 Link to comment Share on other sites More sharing options...
ezzra Posted April 11, 2022 Share Posted April 11, 2022 Lots of the daily money that moves in the markets of Thailand grass roots commerce connect somehow to loan arrangement and mostly cut throat rates, nothing new here to see been like that since the invention of money... 2 Link to comment Share on other sites More sharing options...
mrfill Posted April 11, 2022 Share Posted April 11, 2022 10% a month = 120% per annum really? 1000bt borrowed x 10% per month ends up with 31384bt after 12 months. 213% per annum..... 1 Link to comment Share on other sites More sharing options...
JeffersLos Posted April 11, 2022 Share Posted April 11, 2022 He isn't police? 2 Link to comment Share on other sites More sharing options...
Pedrogaz Posted April 11, 2022 Share Posted April 11, 2022 I can see a suspended sentence looming....2 months in jail at least suspended for 2 years, Link to comment Share on other sites More sharing options...
Willy Wombat Posted April 11, 2022 Share Posted April 11, 2022 28 police turn up and find 28 cars. 2 Link to comment Share on other sites More sharing options...
edwinchester Posted April 11, 2022 Share Posted April 11, 2022 Generous guy, in our village small loans are between 30% and 50% per day. Borrow 200bht today, payback between 260 and 300bht tomorrow. 1 1 Link to comment Share on other sites More sharing options...
kidneyw Posted April 11, 2022 Share Posted April 11, 2022 6 hours ago, webfact said: Many had their licence plates obscured with bin bags Looks like bin bags get used a lot in Thailand. Link to comment Share on other sites More sharing options...
Road Warrior Posted April 12, 2022 Share Posted April 12, 2022 a crook Link to comment Share on other sites More sharing options...
RafPinto Posted April 12, 2022 Share Posted April 12, 2022 On 4/11/2022 at 12:12 PM, webfact said: The Thai law sets a limit at 15%. ???? A month, a year, a day??? 1 Link to comment Share on other sites More sharing options...
RafPinto Posted April 12, 2022 Share Posted April 12, 2022 I knew a massage lady where I live. She "borrowed" money from an Indian loan shark. He turned up every single day when she finished work to get his payment. Quite intimidating this guy was. Link to comment Share on other sites More sharing options...
howlee101 Posted April 12, 2022 Share Posted April 12, 2022 Did Ferrari Joe get released from custody? Link to comment Share on other sites More sharing options...
Mr Meeseeks Posted April 17, 2022 Share Posted April 17, 2022 On 4/12/2022 at 2:13 PM, RafPinto said: I knew a massage lady where I live. She "borrowed" money from an Indian loan shark. He turned up every single day when she finished work to get his payment. Quite intimidating this guy was. Indian guys still do the rounds in Soi Cowboy and Nana to collect loan payments. 1 Link to comment Share on other sites More sharing options...
Sparktrader Posted April 17, 2022 Share Posted April 17, 2022 On 4/11/2022 at 6:38 PM, mrfill said: 10% a month = 120% per annum really? 1000bt borrowed x 10% per month ends up with 31384bt after 12 months. 213% per annum..... Obviously not compounded Simple interest Link to comment Share on other sites More sharing options...
Sparktrader Posted April 17, 2022 Share Posted April 17, 2022 On 4/12/2022 at 5:10 PM, RafPinto said: ???? A month, a year, a day??? Year obviously Link to comment Share on other sites More sharing options...
Sparktrader Posted April 17, 2022 Share Posted April 17, 2022 Aussie bloke called Shark. He charged 20% a month in Oz. Got hounded by police even though it wasnt illegal. Moved to Pattaya. Link to comment Share on other sites More sharing options...
Mac Mickmanus Posted April 17, 2022 Share Posted April 17, 2022 5 minutes ago, Sparktrader said: Aussie bloke called Shark. He charged 20% a month in Oz. Got hounded by police even though it wasnt illegal. Moved to Pattaya. He wasn't wanted in Pattaya either Link to comment Share on other sites More sharing options...
Sparktrader Posted April 17, 2022 Share Posted April 17, 2022 1 minute ago, Mac Mickmanus said: He wasn't wanted in Pattaya either He targeted little old ladies though. They reported him. Link to comment Share on other sites More sharing options...
PJ71 Posted April 17, 2022 Share Posted April 17, 2022 1 minute ago, Mac Mickmanus said: He wasn't wanted in Pattaya either The stray dogs liked him. 1 Link to comment Share on other sites More sharing options...
Iamfalang Posted April 17, 2022 Share Posted April 17, 2022 28 vehicles is the magic number??? all free ..... why bust if only 10 vehicles..... I would have waited until 39 vehicles...... I guess 28 isn't too shabby Link to comment Share on other sites More sharing options...
Sparktrader Posted April 17, 2022 Share Posted April 17, 2022 19 minutes ago, PJ71 said: The stray dogs liked him. Tough looking dude. Stickman interviewed him i think. Owned a ferrari in Oz. Link to comment Share on other sites More sharing options...
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