Russian Arrested After Loaning Money At High Interest Rates

[COXYATCITY]

Caught drinking coffee at Starbucks. Guy should be ashamed of himself

free WI FI LOL

[eddie61]

Yeah, Thailand has plenty of native loan sharks already ...

some businesses are strictly reserved for thais: mafia, loansharking, law, and prostitution among them

[DiNiro]

Protected occupation.

[ezzra]

More serious offence was that he didn't pay the sign tax and it's a hefty one as it's

written all in non thai language,

[CrisRMenumate]

Obviously the locals complained that he was taking away their livelihood.... its only available for Locals to rob people blind in Thailand, he should have known better...

[rebelplatoon]

Lots of openly advertising from Thai (of course of chinese descent) loan sharks all over Thailand, but thats ok, I guess. No double standards here...TIT

[apetley]

2% A day. 730% A year,That person is really low with that kind of interest.They should put A hurting on him for doing that.I could see charging A reasonable interest,but that amount is obserd.

Here in the village the daily rate is between 20 and 50%!!!

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

[rebelplatoon]

Lots of openly advertising from Thai (of course of chinese descent) loan sharks all over Thailand, but thats ok, I guess. No double standards here...TIT

[comserve]

2% A day. 730% A year,That person is really low with that kind of interest.They should put A hurting on him for doing that.I could see charging A reasonable interest,but that amount is obserd.

2% A day. 730% A year,That person is really low with that kind of interest.They should put A hurting on him for doing that.I could see charging A reasonable interest,but that amount is obserd.

No you forgot about the compounding of interest, much higher.

[chrisinth]

Protected occupation.

Out of curiosity I just looked at the list of protected jobs and loan sharking wasn't there.

I would however love to see the documents he submitted for his work permit (surprised this hasn't been mentioned yet (?)) to the Labor department and his references......................

[Card]

He reportedly lent out money to Thai people at extremely high interest rates.

From the script in the picture I would suggest that he was loaning money to Russian speaking people as well.

Although in the eyes of the police maybe that does not count as a crime.

Yes, I noticed that. How come he is advertising in Russian for business with Thais? In any case, would a Thai trust a Russian with his passport or other essential document? It doesn't make sense to me.

[northernboy]

2% A day. 730% A year,That person is really low with that kind of interest.They should put A hurting on him for doing that.I could see charging A reasonable interest,but that amount is obserd.

The legal rate for private lenders is lower than the bank is expected to charge, is that far?

[Emdog]

"A Dane was killed here in Patts. app.+5 years ago because of his loaning business,

easier to kill him than paying the money back. I don't think they ever found his killers."

Don't seek and ye shall not find....

[skorchio]

surely he is aware that he needs a local endorsement in Brown to run an operation like that?

[Basil B]

Yeah, Thailand has plenty of native loan sharks already ...

some businesses are strictly reserved for thais: mafia, loansharking, law, and prostitution among them

The Russki ladies have been muscling in on the last item for years...

[tragickingdom]

If they were only so eager to take on the Thai loan sharks. He was probably in competition with the Pattaya police Mafia.

[rubberduck]

With a workpermit is lending money for interest actually allowed for a foreigner ? What is the max interest you can legally charge ? What kind of legal actions you need to take, documents etc. ? via a lawyer ?

[Angeledge777]

A school director close to my place loan to his phillipino teachers at 20% interest rate. Well, this must be legal for him, he have the money to pay the bribe.

[challenger99]

Yeah, Thailand has plenty of native loan sharks already ...

RIGHT this mafia business is a Thai-Thai business and the russian mafia should stay with this in his own home territory. I never heard Moscow accept Thai or other nationlities in this field and the answer would be a bullet, not arrest

[TallGuyJohninBKK]

I know a guy that does it via his mrs and brags about relieving Thai folk of their baht with high interest.

Well, when the Thai banks are charging 20% per year, and the finance companies are charging 28% per year, LEGALLY. And the cost of money for them is 1-2%???

It's hard to know who the real criminals are...

As for the Russian guy, perhaps he'd be interested in investing his funds in a new Thailand Elite card, which is being aimed at the Russians and Chinese in particular.

I'm sure if he had just bought one of those, all his troubles would have disappeared.... except for his postered cat!

BTW, recall the news article the other day about the Thai loan shark who allegedly kidnapped and raped the young daughter of a woman who hadn't paid interest on the 1000 baht she owed... I wonder what this Russian guy did to those who didn't pay up???

Edited June 3, 2013 by TallGuyJohninBKK

[Sayonarax]

Oh no way..

[sirchai]

He was arrested after it was discovered that the Russian man loaned out money at interest rates that exceed the Thai law’s interest rate regulation.

Gotta love this one.- .

[vongkasem]

With a workpermit is lending money for interest actually allowed for a foreigner ? What is the max interest you can legally charge ? What kind of legal actions you need to take, documents etc. ? via a lawyer ?

I read a few months ago on a Thaivisa forum that the max rate for private loan is 15% per year (and 18% for bank loan).

[Waldemar]

By the way, I hope we're not going to see more of Russia's organized crime characters and problems surfacing here in Thailand.

Organized? Do you seriously believe his "business" was organized or he belongs to organized crime characters?

You made my day

Edited June 3, 2013 by Waldemar

[monkeycountry]

Call me crazy but the sign says in Russian " Financial help to Russian Citizens without deposits or guarantees."

How exactly Thai's learned to read Russian and became Russian citizens?

Perhaps an unhappy gf decided to take over the biz

Maybe some of the many russian speaking Thai tour guides from Phuket translated it?

Edit: Sorry, did not see they needed to be russian citizens as well :-)

Edited June 3, 2013 by monkeycountry

[monkeycountry]

Anyway, I think loan shark is on the prohibited list when applying for a work permit. Afterall, this is one of the jobs that Thai's do very well, and for which they do not need outside help :-)

[monkeycountry]

I know a guy that does it via his mrs and brags about relieving Thai folk of their baht with high interest.

Well, when the Thai banks are charging 20% per year, and the finance companies are charging 28% per year, LEGALLY. And the cost of money for them is 1-2%???

It's hard to know who the real criminals are...

As for the Russian guy, perhaps he'd be interested in investing his funds in a new Thailand Elite card, which is being aimed at the Russians and Chinese in particular.

I'm sure if he had just bought one of those, all his troubles would have disappeared.... except for his postered cat!

BTW, recall the news article the other day about the Thai loan shark who allegedly kidnapped and raped the young daughter of a woman who hadn't paid interest on the 1000 baht she owed... I wonder what this Russian guy did to those who didn't pay up???

The Thai loan shark argued though that he had adhered to the rules regarding how much interest could be charged, and that those rules did not say that he was not allowed to rape the daughters of his customers!

[Lancelot]

Yeah, Thailand has plenty of native loan sharks already ...

OR don't mess with a local guy's rice bowl

[Just1Voice]

Russian nabbed in connection with loan shark racket

By English News

PATTAYA, June 3 – A Russian national was arrested in this eastern resort town Saturday night on charges of predatory lending and illegally working in Thailand.

Police said Ayrat Khabiryanov was a member of the Russian loan shark racket which has been involved in illegally offering loans at extremely high interest rates since last year.

Deputy Interior Minister Chat Kuldilok said Thai police have been hunting for the group after more than 10 Russian money borrowers filed complaints with the authorities last month.

They told police that the group offered Bt5,000-30,000 to a borrower and charged a daily interest of 2 per cent or 60 per cent a month, subject to interest payment every 10 days. The borrowers’ passports were taken as collateral when the loans were given.

Those who failed to pay the loans were assaulted or confined. Some were taken to the Thai authorities to face charges of staying in Thailand without passports.

Police seized a list of 285 money borrowers, all of whom were Russians.

Mr Khabiryanov was responsible for receiving phone calls and keeping accounts of all loans dispersed, police said. (MCOT online news)

-- TNA 2013-2013-06-03

Thai officials....NEVER miss a chance for a photo op!

[NanLaew]

There are many farangs doing it via their lady. FACT. All over LOS. FACT.

I tell ya. I had to rent the lot next door so I could get all these bloody motorbikes out of my driveway!

Edited June 3, 2013 by NanLaew