Picture courtesy of KhaoSod

 

By Bright Choomanee

 

Police Region 4 apprehended two men for providing illegal loans with exorbitant interest rates, following the suicide of a fish vendor overwhelmed by debt. The suspects confessed to charging interest rates of 60% monthly.

 

Yesterday, January 20, Police Lieutenant General Chatchai Surachetphong, commanded Police Major General Poomiphat Patrasriwongchai, Police Colonel Kraithong Chaising, and their investigation teams to arrest 24 year old Sumet and 22 year old Ratthichai at Waeng Nang Municipal Market in Mueang district, Maha Sarakham province.

 

The arrest followed information from hotel manager Jitpimon, who reported hearing a gunshot from a room. Upon investigation, the deceased, 33 year old fish vendor, Jakkrit, was found, having taken his own life due to financial stress from illegal loan debts.

 

Further investigation by the police revealed that Jakkrit had borrowed from multiple unregulated lenders. These creditors regularly collected repayments from other borrowers at the market during the evenings.

 

 

Surveillance led police to Sumet and Ratthichai, who were collecting payments in the area. Police found 500 baht (US$15) in cash and a debtor’s record book in Sumet’s possession. No illegal items were found on Ratthichai.

 

During questioning, both suspects admitted to collecting repayments with an interest rate of 20% per day, amounting to 60% monthly. Jakkrit had borrowed 4,000 baht (US$118), partially repaying the principal and interest, leaving a balance of 1,600 baht (US$47).

 

The suspects operated an illegal loan business in Maha Sarakham and nearby areas, targeting vendors and interested individuals with floating interest rates of 2% per day or 60% monthly. Police charged the duo with exceeding legal interest rates and conducting an unauthorised lending business, reported KhaoSod.

 

They were handed over to Mueang Maha Sarakham Police Station for legal proceedings.

 

Source: The Thaiger

-- 2025-01-21