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

[snoop1130]

 

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.

 

Investigations had begun after police discovered the suspects’ online activities on Facebook, where they posted advertisements to recruit members into their daily money-lending scheme through a group called Share Daily. The group had 31 participating members. These Facebook users were found to have violated lending laws, leading to the suspects’ arrests, reported Khaosod.

 

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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[300sd]

There are quite a few more violating lending laws. 15% per year! Try 15% a month or a week is more like it. I would imagine that most Thais know of one lending shark in their home town. These people are scum ruining Thai lives. Unfortunately, as I have stated before, many Thais are forced into dealing with these creeps because they have no choice. It's a vicious circle that needs to end.

[webfact]

topic runs here:

 

https://aseannow.com/topic/1298149-illegal-high-interest-loan-scheme-busted-in-thung-yai-3-arrested/

 

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