Indian national arrested in Ang Thong over illegal loans in Thai baht

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An Indian national has been arrested for operating an illegal daily loan scheme in Ang Thong. The arrest followed complaints by residents to the local Justice Centre about the extortionate interest rates and violent threats from the loan shark.

 

SOUL OF SPORT: The Trampoline Gymnastics World Championships saw incredible success for Team GB women as Bryony Page won her second world title... ANDY HOOPER captures all the drama from the Utilita Arena in Birmingham, and other top stories from November 13, 2023.

The investigation, conducted today, November 30, found that an Indian man, identified only as Harinda, had loaned amounts ranging from 2,000 to 10,000 baht, charging a daily interest of 20%, which equates to 300 baht per day. Failure to pay resulted in threats and physical harm.

 

The local authorities and police discovered that the loan sharking operation was masked as a roaming sales business, targeting daily market traders in Jarakay Rong Market and Wat Chaiyo Market. The loans, typically ranging from 2,000 to 10,000 baht, required daily repayments of 300 baht, equating to an exorbitant daily interest rate of 20%. Borrowers who were unable to repay were threatened and subjected to physical harm.

 

by Nattapong Westwood

Photo courtesy of KhaoSod

 

Full story: The Thaiger 2023-12-01

 

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[hotchilli]

Local plod to my area has his missus take care of his loan business.. 

they charge 20% on a loan.

[PETERTHEEATER]

Worse, he was in possession of a blue pen and a mosquito net. What is the world coming to? 😋

 

 

[brianthainess]

A blue pen in his pocket, a black wallet with 1,650, 340b in one pocket Oh my god! I feel soo much safer now. 

[Colabamumbai]

A good Indian friend tells me that they all do this here in the smaller cities. So its no news till busted. 

[mithunonthenet]

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SOUL OF SPORT: The Trampoline Gymnastics World Championships saw incredible success for Team GB women as Bryony Page won her second world title... ANDY HOOPER captures all the drama from the Utilita Arena in Birmingham, and other top stories from November 13, 2023.

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