webfact Posted January 16 Share Posted January 16 A 66 year old Sunthorn from the province of Nakhon Si Thammarat, known as a prominent loan shark, was arrested for running an illegal pawnbroking business, lending money with an annual interest rate of 36%. The authorities seized 31 vehicles, warning debtors that they could become criminal suspects. Yesterday, at Na Bon Police Station in the Nakhon Si Thammarat province, Governor Khajonkiat Rakpanichmanee, along with Police Lieutenant Colonel Somchai Suetortrakul, the Police Chief of the Nakhon Si Thammarat Provincial Police, Weeraphan Sukawalli, the Na Bon District Officer, and Police Lieutenant Colonel Phuwasit Wangkaew, the Head of the Na Bon Police Station, announced the arrest of Sunthorn The arrest came with 31 vehicles as evidence, along with 31 sets of loan documents. Sunthorn was charged with operating a credit business without a licence, establishing a pawnshop without a licence, and lending money at an interest rate higher than the law stipulates. Sunthorn had been accepting large amounts of vehicles as collateral and granting loans with an interest rate higher than the law allows. Once he received the vehicles as collateral, he would store them at his home or nearby premises. Sunthorn built a warehouse with a corrugated iron fence to store the vehicles he accepted as collateral. by Nattapong Westwood PHOTO: via Mint Full story: The Thaiger 2024-01-16 - Cigna 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. Get our Daily Newsletter - Click HERE to subscribe Link to comment Share on other sites More sharing options...
Popular Post BenStark Posted January 16 Popular Post Share Posted January 16 13 minutes ago, webfact said: The authorities seized 31 vehicles, warning debtors that they could become criminal suspects. Yep that's how it usually works in Thailand. Protect the criminal loan shark, and treat the victims as criminals 1 1 2 1 Link to comment Share on other sites More sharing options...
Popular Post worgeordie Posted January 16 Popular Post Share Posted January 16 22 minutes ago, webfact said: known as a prominent loan shark, Known to everyone in the area , except the police , until now. regards worgeordie 1 2 3 Link to comment Share on other sites More sharing options...
ezzra Posted January 16 Share Posted January 16 Wouldn't be hilarious if just for once they'll feed a loan-shark to the sharks?... Link to comment Share on other sites More sharing options...
hotchilli Posted January 17 Share Posted January 17 18 hours ago, webfact said: A 66 year old Sunthorn from the province of Nakhon Si Thammarat, known as a prominent loan shark, was arrested for running an illegal pawnbroking business, lending money with an annual interest rate of 36%. The authorities seized 31 vehicles, warning debtors that they could become criminal suspects Screwed twice, that's how Thailand roles. 1 1 1 Link to comment Share on other sites More sharing options...
brianthainess Posted January 17 Share Posted January 17 20 hours ago, BenStark said: Yep that's how it usually works in Thailand. Protect the criminal loan shark, and treat the victims as criminals Well to be fair some were pawning vehicles they did not even own. That is theft in my eyes. Nothing says the loan shark is being protected. Link to comment Share on other sites More sharing options...
john donson Posted January 17 Share Posted January 17 36%, if it is per year, not too bad... compared to 30% per day... would it be too difficult to create a website where sharks could be reported and investigated, if they have a 'police' record... more like a license to shark... Link to comment Share on other sites More sharing options...
digger70 Posted January 17 Share Posted January 17 The cops know him as a loanshark for how many years?. Why didn't they stop him as soon as they knew about him. I suppose me thinking that the cops must have had shares in this . 1 1 Link to comment Share on other sites More sharing options...
PETERTHEEATER Posted January 17 Share Posted January 17 I'm worried about that corrugated iron fence....... Link to comment Share on other sites More sharing options...
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