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Ex-Debt Collector Busted as Loan Shark in Pattaya Raid

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Picture courtesy of สายข่าวพัทยา

 

A 38-year-old man has been arrested after police raided his home in the Soi Khao Talo area and uncovered evidence of a brutal illegal moneylending operation charging interest rates of up to 2% per day.

 

On the morning of August 7,  Police Major General Teerachai Chamnarnmoh, Commander of Region 2 Investigation Division, led officers with a court warrant to search the suspect’s residence. The operation followed intelligence suggesting that a notorious lender known as “Khun Thong Rapid Loans” was operating in the area.

 

Inside the property, officers discovered a trove of loan documents, debtor records and two motorcycle helmets believed to have been used during debt collection. The homeowner, known only as “Aof,” confessed to running the illegal lending operation. He admitted to previously working as a debt collector in Chanthaburi before branching out on his own and offering high-interest loans, charging a staggering 2% per day.

 

Police have filed two major charges against the suspect and have transferred him to Nong Prue Police Station for further legal proceedings. Authorities say investigations are ongoing as they seek to dismantle the wider loan shark network operating across the eastern region.

 

Officials have vowed to pursue all members of the illicit operation and urged victims of predatory lending to come forward.

 

 

image.png  Adapted by Asean Now from สายข่าวพัทยา 2025-08-08

 

 

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"...charging a staggering 2% per day."

 

Seems generous compared to the daily rate here in the village. Varies between 30% and 50% a day. Borrow 100 bht today payback between 130 and 150 bht tomorrow.....madness.

 

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