Picture courtesy of Khaosod.

 

Police have arrested a notorious illegal moneylender known for targeting female borrowers and charging extortionate interest rates under the guise of a loan business called “Ban Sia Note” (“House of Sia Note”).

 

Acting on orders from Police Major General Tasanapoom Jaruprach, the Economic Crime Suppression Division (ECSD) detained 30-year-old Sirinar at his residence in Tha Pha subdistrict, Ban Pong district, Ratchaburi province. He faces multiple charges including operating an unlicensed personal loan business, charging interest beyond the legal limit, and using intimidation and threats during debt collection.

 

Authorities seized evidence from his home, including promotional flyers advertising “Ban Sia Note revolving funds for trade,” debtor record books, and loan agreement documents.

 

The arrest followed numerous complaints filed with the ECSD from victims in Nakhon Pathom, Kanchanaburi, and Ratchaburi. The lender allegedly operated for three to four years, amassing a client base of thousands. Victims reported being subjected to aggressive debt collection methods and annual interest rates as high as 1,825%, far exceeding the legal limit.

 

The loan process was disturbingly simple: applicants needed only a national ID card, with no guarantor required. Upon approval, the funds were transferred directly. If borrowers failed to repay on time, they were publicly shamed on social media and faced in-person intimidation.

 

Sirinar confessed to the allegations, admitting he preferred lending to women as they were “easier to negotiate with” and “more emotionally vulnerable.” He has been handed over to investigators from ECSD Division 5 for legal proceedings.

 

The case highlights the ongoing issue of predatory lending in Thailand, particularly among vulnerable groups. Authorities have reiterated the importance of reporting such abuses and have vowed to crack down on illegal loan operations across the country.

 

 

  Adapted by Asean Now from Khaosod 2025-05-03.

 

 

 

These loan sharks are the lowest of the low praying on people  lock him up unfortunately people still use them and aren't very savvy