Indian Man Arrested for Illegal Loan Sharking

[Georgealbert]

 

Picture of arrest

 

Police have arrested an Indian national who was allegedly operating an illegal money-lending business, charging an extortionate interest rate of 20% per day.

 

At approximately 14:00 on 27 February, officers from Tha Ruea Police Station received reports from local residents in Tha Ruea subdistrict, Tha Maka district, Kanchanaburi province, about a foreign man suspected of running an illegal loan sharking operation. 

 

Acting on the tip-off, police launched an investigation and soon located the suspect, identified as Mr. Vijay Kumar, 31, an Indian national, riding a motorcycle while collecting payments from borrowers along the Rang Kratai-U Lok Si Muen Road in Tha Maka.

 

Upon searching the suspect, police found a small notebook containing records of illegal loans. Further questioning revealed that Kumar had been lending money at a daily interest rate of 20%, far exceeding the legal limit in Thailand. Officers arrested him and took him to Tha Ruea Police Station for further questioning.

 

During the interrogation, officers attempted to contact Kumar’s alleged gang leader using his mobile phone. However, the call was abruptly cut off, after which Kumar refused to provide any further information to the authorities.

 

Police have formally charged Mr. Vijay Kumar and have handed him over to investigators for further legal proceedings.

-- 2025-02-28

 

[ozz1]

20 percent interest! lock him up or deport him these people should be rooted out

[watchcat]

6 hours ago, Georgealbert said:

Police have arrested an Indian national who was allegedly operating an illegal money-lending business, charging an extortionate interest rate of 20% per day.

 

Aren't they all?

[captain_shane]

The loan sharks here really are sharks, the American mafia only lent people money at 2% per week.

[DPKANKAN]

An Indian doing a Job solely reserved for Thais!!!😏😏😏😏😂🤣😂🤣