Police Crack Down on Two Ruthless Loan Shark Networks, Seize Documents and Customer Lists

[Georgealbert]

 

 

Picture courtesy of Khaosod.

 

Cyber police have raided and dismantled two major loan shark networks charging exorbitant interest rates of 30-60% per month. The raid resulted in the seizure of numerous customer lists and incriminating documents, with the suspects confessing to their illegal operations.

 

On 14 September 2024, Pol. Lt. Gen. Worawat Watnakornbancha, head of the Cyber Crime Investigation Bureau (CCIB), ordered Pol. Maj. Gen. Phumipat Pattharasriwongchai, chief of CCIB Division 5, alongside Deputy Chief Pol. Col. Bancha Srisuk and Pol. Col. Kukiart Wongphan, superintendent of CCIB Division 5, to lead a raid against an online loan shark network. Two locations were searched in Songkhla province.

 

 

The first raid, authorized by Na Thawi Provincial Court warrant No. 85/2567, targeted a house in Samnak Kham sub-district, Sadao district. Authorities arrested Ms. Kanyapat (surname withheld), 35, the homeowner. A large number of customer lists and loan agreements exceeding legal interest rates were confiscated.

 

The second raid, backed by Songkhla Provincial Court warrant No. C.253/2567, took place in Khuan Lang sub-district, Hat Yai district. Ms. Laksanaporn (surname withheld), 24, was arrested. Her mobile phone, containing numerous customer contacts and records of online loan advertisements, was seized.

 

Pol. Lt. Gen. Worawat revealed that officers had been monitoring two Facebook accounts, one belonging to Ms. Kanyapat and the other to Ms. Laksanaporn. Both were involved in offering illegal loans to customers in their respective areas, with no regard for legal consequences. The interest rates charged were between 30-60% per month, far above the legal limit.

 

After gathering sufficient evidence, the police secured search warrants, arrested the suspects, and confiscated mobile phones and loan-related documents. Both women confessed to their activities.

 

The suspects now face charges of "operating a personal loan business by providing capital and lending to others without a license" and "charging interest rates higher than legally allowed." They have been handed over to investigators for further legal proceedings. 
 

-- 2024-09-15

 

 

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[Tropicalevo]

Seeing the land title in the photo reminds me of a friend who used to lend money here years ago. (At nominal interest rates.)

One lady put some family land up as collateral to borrow to pay off gambling debts.

When the loan was due, she could not pay and said to ask her family.

He did - the family refused to pay saying that they were fed up of bailing her out.

My friend took them to court in order to recover his money.

The judge pointed out to my friend that what he was doing was illegal.

Friend acknowledged that and said that he was only trying to help the lady by lending her money at a much lower rate that the local loan sharks.

He won the case. Family had to pay him.

 

In Thailand, there is the letter of the law and the spirit of the law.

Spirit always wins.

[Will B Good]

 

It is a clear indication of how desperate people must be to borrow at those rates.....sad.

 

The wife wants me to start loaning money out in the surrounding villagers........HA!.......she is determined to get rid of me.

 

No way am I getting drawn into that murky world.

[hotchilli]

20 hours ago, Tropicalevo said:

In Thailand, there is the letter of the law and the spirit of the law.

Spirit always wins.

If you're lucky