Illegal high-interest loan scheme busted in Thung Yai, 3 arrested

[webfact]

Cyber police raided three homes in Thung Yai district, Nakhon Si Thammarat today, arresting three suspects involved in an illegal high-interest loan operation.

 

According to the commander of the police, three suspects were apprehended along with mobile phones, bank account passbooks, record books, and documents detailing loan agreements with interest rates exceeding the legal limit of 15% per year.

 

Police, led by Thapakorn Humamart, were tasked with carrying out searches in the Thung Yai district after receiving arrest warrants. The suspects were captured in three separate locations.

 

The suspects are: 31 year old Kittipong; 35 year old Kanyakornd; and 36 year old Pimpa. Authorities seized their mobile phones, as well as bank account books and records of their illegal loan operations.

 

by Nattapong Westwood

 

Full story: https://thethaiger.com/hot-news/crime/illegal-high-interest-loan-scheme-busted-in-thung-yai-three-suspects-arrested-with-thai-baht-records-2

 

-- © Copyright Thaiger 2023-06-16

 

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[hotchilli]

1 hour ago, webfact said:

According to the commander of the police, three suspects were apprehended along with mobile phones, bank account passbooks, record books, and documents detailing loan agreements with interest rates exceeding the legal limit of 15% per year.

Around here the going rate is 20%

[itsari]

Is this the first prosecution of thousands to come as the practice of illegal loans above 15 percent is rampant in Thailand .

 

[TheFishman1]

May these gangs her loanshark people pair of the cops so they’re able to do this without any problem TIT

[Bangel72]

Would be good if the did step up a crackdown on these loan sharks and provided people with a contact agency, most are are afraid of police involvement when they run into problems.

[AustinRacing]

Almost guaranteed every loan shark operation either has police as partners or police on their books. Police are a good deterrent for those wanting to screw the loan shark. My wife used to loan money years ago. 
Anyone getting caught most likely had a falling out with the cops involved. 

Edited June 16, 2023 by AustinRacing