Nonthaburi Loan Shark Arrested Over 2,400% Annual Interest

Pictures courtesy of Thaitabloid 

Police have arrested a 28-year-old man accused of operating an illegal lending business in Nonthaburi province, charging borrowers interest rates of more than 2,400 per cent per year and publicly shaming those who paid late. The suspect, identified as Mr Kritsana, was detained in Pak Kret district following complaints from victims who said they were threatened and humiliated online. Authorities said the case highlights the ongoing harm caused by unregulated loan sharks targeting financially vulnerable people.

The arrest was carried out by the Central Investigation Bureau (CIB), through the Economic Crime Suppression Division (ECD). Police seized four bank passbooks, one laptop with a charger, four mobile phones, and seven sticker sheets bearing the message “Hia Nut Wai Run Roi Yee” during the operation. Mr Kritsana was charged with operating a personal loan business without a licence, charging interest above the legal limit and using threats and intimidation in debt collection.

According to investigators, victims first filed complaints in October 2025 after borrowing money from an unlicensed lender operating in Nonthaburi and nearby areas. The lender reportedly charged interest at a daily rate of 6.67 per cent of 2,434 per cent per year, with repayments collected daily. Police said the practice placed severe financial pressure on small traders and residents already struggling with cash flow.

When borrowers missed payments, the suspect allegedly used abusive language, threats and intimidation by phone and online messages. Investigators said he also posted borrowers’ personal photographs and details on Facebook, Facebook Messenger and public Line groups, using insulting language to shame them and damage their reputations. Victims told police they felt frightened and embarrassed, prompting them to pay despite the excessive interest.

Pol Maj Gen Thatphum Jarupratch, commander of the ECD, ordered officers from Sub-Division 5 to investigate after receiving multiple complaints. Police found the suspect promoted loans through Facebook, targeting small business operators who lacked access to formal credit and offering quick approval without identity documents or guarantors. He allegedly posted transfer slips of loan principal payments online to build credibility and attract more borrowers.

Following surveillance, officers obtained an arrest warrant from the Criminal Court and a search warrant from the Nonthaburi Provincial Court. Police searched a residence in Pak Kret district and arrested Mr Kritsana at the scene. During questioning, he admitted running the lending operation, charging interest, and using online shaming and verbal abuse to pressure borrowers into paying.

Thaitabloid reported that Mr Kritsana has been handed over to investigators at Sub-Division 5 of the ECD for further legal proceedings. Police said the investigation will continue to identify additional victims and assess whether further charges are warranted.

Key Takeaways

• A 28-year-old man was arrested in Nonthaburi for illegal lending with interest of 2,434 per cent per year.

• Police say borrowers were threatened and publicly shamed on social media when payments were late.

• Authorities seized financial records and electronic devices as part of the investigation.

Related Stories

Loan-shark-gang-locks-up-grandmother-baby-over-missed-payment

Loan-shark-forces-debtor-to-jump-into-canal-drown

 Adapted  by  Asean Now from Thaitabloid 2025-12-22