Picture courtesy of Naewna

 

A notorious moneylender is back in the spotlight after being caught running an illegal lending scheme with an eye-watering 3,400% annual interest rate.

 

Thailand's Economic Crime Suppression Division (ECD) arrested 37-year-old Narin Boon-me in Phra Nakhon Si Ayutthaya, citing charges of unauthorised loan services and exorbitant interest rates.

 

Authorities apprehended Narin on Saturday, following an arrest warrant issued by the Minburi Criminal Court.

 

Victims had lodged complaints about a dodgy app-based platform, "New Wallet", which exploited borrowers by demanding access to personal data and foisting hefty fees under the guise of processing costs, reported the Bangkok Post.

 

The unscrupulous lender compelled users to pay crippling daily interest via online banking, translating into an extortionate 3,400% yearly rate.

 

Debtors failing to meet deadlines were subjected to harassing calls, leaving them and their families distressed and ashamed.

 

Investigators have discovered additional suspects associated with the "New Wallet" app and are currently pursuing additional arrest warrants.

 

Narin’s criminal history is littered with drug-related offences and six other charges, underscoring a pattern of unlawful behaviour.

 

In a confession during preliminary questioning, Narin admitted to the charges, according to Pol Maj Gen Tatpoom Jaruprach, the ECD chief.

 

This arrest marks another chapter in the ongoing fight against illegal loan sharks exploiting vulnerable individuals across the country.

 

  Adapted by ASEAN Now from Bangkok Post 2025-08-18

 

Death penalty for all loan sharks  😡

9.31% per day is a random number... Wonder why he not just go for 10%?

15 minutes ago, JoePai said:

Death penalty for all loan sharks  😡

After torture 🤔

39 minutes ago, JoePai said:

Death penalty for all loan sharks  😡

 

and for the people who accepted loans at 9.31% per day, it should be: back to school to learn how to calculate and learn to use their brains ...

 

 

39 minutes ago, Ralf001 said:

9.31% per day is a random number... Wonder why he not just go for 10%?

Showing compassion for his customers he gave a discount to the most gullible/

10 minutes ago, motdaeng said:

 

and for the people who accepted loans at 9.31% per day, it should be: back to school to learn how to calculate and learn to use their brains ...

 

 

Many have not been to school !

1 hour ago, JoePai said:

Death penalty for all loan sharks  😡

Nah, that´s too mild. He should live his future life getting whipped 20 times per day working in a poultry manufacturing company. For the people who took loans with almost 10% interest per day, there is no help.

Many years ago a newly employed co-worker asked me if I could introduce him to a loan shark, as he needed some money urgently before his first paycheck.  I was reluctant to do so, but eventually hooked him up with the manager of an apartment building  that I used to live at (my wife said that she loan-sharked on the side).  He borrowed about 20 or 30K from her at 10% monthly interest.  

 

I never heard more about this, but he must have paid it off eventually, as he still had all of his fingers and toes when I saw him several years later!

5 hours ago, Ralf001 said:

9.31% per day is a random number... Wonder why he not just go for 10%?

Same as 99.99% sounds better than 100%

5 hours ago, Ralf001 said:

9.31% per day is a random number... Wonder why he not just go for 10%?

He probably did but thought the lower rate looked better

7 hours ago, Ralf001 said:

9.31% per day is a random number... Wonder why he not just go for 10%?

That would be extortionate.

2 hours ago, Callmeishmael said:

Many years ago a newly employed co-worker asked me if I could introduce him to a loan shark, as he needed some money urgently before his first paycheck.  I was reluctant to do so, but eventually hooked him up with the manager of an apartment building  that I used to live at (my wife said that she loan-sharked on the side).  He borrowed about 20 or 30K from her at 10% monthly interest.  

 

I never heard more about this, but he must have paid it off eventually, as he still had all of his fingers and toes when I saw him several years later!

did you check his 'willy' !

I've mentioned before, on loan sharking threads, about the outrageous rates here in the village, between 30% and 50% per day. I asked wifey, who on earth borrows at such an outrageous rate. She replied people who are addicted to gambling, the local mafia lotto attracts alot of people borrowing 100 bht and some of the local food sellers who borrow a small amount to buy raw ingredients and then pay off the loan with, hopefully, the profit they make during the day.

8 hours ago, Ralf001 said:

9.31% per day is a random number... Wonder why he not just go for 10%?

It’s 10% per day but interest-free on Thai holidays.   555

Had many previous charges and is still breathing free air?! Top flight judicial system, this. Time to incorporate Saudi justice with scofflaws like this.

On 8/18/2025 at 7:32 AM, Ralf001 said:

9.31% per day is a random number... Wonder why he not just go for 10%?

Maybe he was feeling generous 

STUPID IS AS STUPID DOES - FORREST GUMP

On 8/18/2025 at 4:03 PM, edwinchester said:

I've mentioned before, on loan sharking threads, about the outrageous rates here in the village, between 30% and 50% per day. I asked wifey, who on earth borrows at such an outrageous rate. She replied people who are addicted to gambling, the local mafia lotto attracts alot of people borrowing 100 bht and some of the local food sellers who borrow a small amount to buy raw ingredients and then pay off the loan with, hopefully, the profit they make during the day.

The sharks here make the mafia look like philanthropists. Typical mafia sharks charge 2-3% a week.