Cops say Russian loan sharks are preying on Russian tourists in Pattaya
By Coconuts Bangkok



Beautiful, wholesome Pattaya

PATTAYA: -- How’s this for a fascinating/depressing micro-economy? – Apparently an entire sub-industry of Russian loan sharks has sprung up in Pattaya to service the needs of Russian tourists who run out of money while vacationing in Thailand.

Police officials in Pattaya are claiming both that they have control over the situation, and that the activities of Russian loan sharks do not affect Thais nationals.

The network of loan sharks working in the infamous vacation spot exists, apparently, to the exclusive benefit and detriment of Russian citizens.

This fresh news about the activities of Russian loan sharks in Pattaya [more...]

Full story: http://bangkok.coconuts.co/2013/06/10/cops-say-russian-loan-sharks-are-preying-russian-tourists-pattaya

-- Coconuts Bangkok 2013-06-10

Russian Loan Sharks say Cops are praying on Russian Loan Sharks.

So, if ILLEGAL Russian loan-sharks rip off other Russians, then it isn't a problem as long as it doesn't affect Thais.

This opens new perspectives for loan-sharks from many other countries

At least the Russians are taking care of themselves

Hopefully the result will be fewer Russians

could it be that there is also a local russian maffia ? no, not in thailand, impossible

next group: albanian maffia, mexican maffia, ...

This is a joke right....?

Police officials in Pattaya are claiming both that they have control
over the situation, and that the activities of Russian loan sharks do
not affect Thais nationals.

What a horrible bunch of Thais to have made such a comment... Your a disgrace to your country and humanity!

Cops Say Russian Loan Sharks Are Preying On Russian Tourists In Pattaya

Those loans then generate chum for local bottom feeders.

So, if ILLEGAL Russian loan-sharks rip off other Russians, then it isn't a problem as long as it doesn't affect Thais.

This opens new perspectives for loan-sharks from many other countries

Did you not see in the article that Thai police arrested Russian loan sharks?

Police officials in Pattaya are claiming both that they have control over the situation

Read.. they are being paid their dues..

totster

Russian Loan Sharks say Cops are praying on Russian Loan Sharks.

Cops and Loan sharks seek accommodation on Tourist 'interests'.

One would think that a tourist coming here would either have enough cash reserves or would have made arrangements to draw on cash from home in case of emergency. Som Na Na I say

Maybe the Royal Thai Police are playing a dangerous game. if they allow the Russians (mafia) to get a good foothold, they will regret it later when they realise that the Russians can be much more ruthless than they can imagine.

....thank goodness the police are here to protect tourists.....(when it comes to business being taken away from Thais)

...seeing that it is a national pastime for Thais to rip off tourists every which way....this sounds absurd......

Loaning money at high rates is one of the 7 deadly sins!

So, if ILLEGAL Russian loan-sharks rip off other Russians, then it isn't a problem as long as it doesn't affect Thais.

This opens new perspectives for loan-sharks from many other countries

Did you not see in the article that Thai police arrested Russian loan sharks?

+1

This is a joke right....?

Police officials in Pattaya are claiming both that they have control

over the situation, and that the activities of Russian loan sharks do

not affect Thais nationals.

What a horrible bunch of Thais to have made such a comment... Your a disgrace to your country and humanity!

Two statements from our friend in Dubai. "Thailand is for Thais" Taksin Speaks, PTP Does" And some wonder why things are the way they are.

putins pattaya !!

Russian tourists probably need the loans after they take a ride on the jet skis. Hard to factor that "extra" into trip budget.

Russian tourists probably need the loans after they take a ride on the jet skis. Hard to factor that "extra" into trip budget.

Hear ! Hear !

"could it be that there is also a local russian maffia ? no, not in thailand, impossible

next group: albanian maffia, mexican maffia, ..."

What about the Australian mafia ?.........Threat made to club owner - "If you don't pay up we will get our blokes liquored up and send them around to your place to really play up"

oh oh again !!

Does Putin know about this new industry?

The police have control...... control over their cut of the proceeds.

I can't help thinking what a position for a young naïve traveler to get into.

Visits a country, has a better time than he/she planned for & is offered the temptation of additional money to extend their holiday. With no immediate means to pay back (otherwise they would have used those resources in the first place) the interest mounts up, leading to a severe kicking (if they're lucky) or resorting to crime to get the money.

When officials make statements that this problem is under control, and does not affect Thais, perhaps they should think the problem through and 'see' the knock-on effects that could possibly effect the Thais.

Not funny having a gun stuck in your face with the possibility of getting your head blown off by a person desperate to pay back dodgy loans.

Why should the Thais be worried, just helping Russian tourists to spend more in Thailand.

So, if ILLEGAL Russian loan-sharks rip off other Russians, then it isn't a problem as long as it doesn't affect Thais.

This opens new perspectives for loan-sharks from many other countries

Did you not see in the article that Thai police arrested Russian loan sharks?

Yes, I did. Didn you notice that this news report is a follow up on the investigation regarding the arrest? Probably the arrested Russian loan-shark paid the BiB generously; that's why they came up with this bright and shiny conclusion.

Loaning money at high rates is one of the 7 deadly sins!

Only if done by a foreigner - Thais are quite well accommodated even though it is against the law. Try making a police report against one!"

Just a guess, but maybe the loan sharks are giving loans to long time Russian residents, and not tourist. If someone is here on a 2 week holiday, how could he pay back the loan, while he is here?

The newspaper, police and the posters of this forum seem to be missing an essential point about a market economy (the only type of economy there is). If I offer you a product or service for price X (interest of 5-500% a month) and you change your mind about paying - tough luck for you. Wouldn't surprise me if the Russian toursists (or Thai nationals as well) are lining up to take out loans. And the ledner gets blamed for opereating a business! Is someone coercing people into borrowing money? Case closed!

BTW, I am not a loan shark, but this argument shows a lack of understanding of principles and practice of money.

Why can't people learn? If there is a customer there will be a supplier. No law is going to stop that paradigm.