German Loan Shark Suspect Takes Flight Before Raid

[webfact]

German Loan Shark Suspect Takes Flight Before Raid

By Asaree Thaitrakulpanich, Staff Reporter -

 

Officials search the home of German loan shark Wolfdieter Werner Mueller on Thursday afternoon in Nong Khai province.

 

NONG KHAI — Police on Friday were awaiting the return of a suspected German loan shark to his home in the north of Thailand where he is accused of conducting an illegal loan operation.

 

Police and military officers raided the home of 55-year-old Wolfdieter Werner Mueller in Nong Khai province after residents went to police complaining he charged exorbitant interest fees.

 

Full story: http://www.khaosodenglish.com/news/crimecourtscalamity/crime-crime/2016/11/25/1464782716/

 

-- © Copyright Khaosod English 2016-11-25

 

[Bluespunk]

''“People around there can’t afford to pay him back.”

 

Then they shouldn't borrow the money.

[Anthony5]

From the article "  It is also illegal for foreigners to loan money to Thais. "

 

I very much doubt that.

[fruitman]

There must be hundreds of loansharks but they go after the German????

 

I was also asked to loan many to several Thai but i refused. Guess they offered the German a good rate so he agreed to loan them cash. Then more came to him and he agreed again.

 

Not a smart move but i don't think he was searching his customers himself, which German wants that? 

 

Almost ALL my wife's collegues loaned money to another college from Korat to expand his business. He promised to pay them a good interest (very high) but a year later he quit his job and they all never heard of him again. He ows them about 500.000 baht in total.

 

Also another girl loaned money from the whole department, quit her job and they never got it back.

 

Never loan money to a Thai is the lesson to be learned.

[fruitman]

2 minutes ago, Anthony5 said:

From the article "  It is also illegal for foreigners to loan money to Thais. "

 

I very much doubt that.

 

Great, i will refer to that if they ever ask me again.

[carlyai]

It's a gift. Like my wife's nephew, who ripped us off for B 300000, nice gift.

Sent from my SM-J700F using Tapatalk

[trogers]

11 minutes ago, Bluespunk said:

''“People around there can’t afford to pay him back.”

 

Then they shouldn't borrow the money.

 

They don't need to pay him back. Let him lodge a police report.

[DavidVincent]

So the guy went to Phuket but instead of keeping it quiet they paraded on the news...I am quite sure he will not come back...

Bibs couldn't wait until Sunday

[jolive]

Total bs..

Ask for loan can't pay up and report him conducting illegal loan operation.. if borrower dun agreed with the interest, they can dun borrow.. totally a scam because he's a farang


Sent from my iPhone using Thaivisa Connect

[DavidVincent]

4 minutes ago, jolive said:

Total bs..

Ask for loan can't pay up and report him conducting illegal loan operation.. if borrower dun agreed with the interest, they can dun borrow.. totally a scam because he's a farang


Sent from my iPhone using Thaivisa Connect

To be honest If I knew a guy doing that and be thai, I would probably report him as well after borrowing some money from him...if you prey on poverty you're not worth a lot... borrow 10k, have to refund 30k...

Most of the people who borrow money from loan shark (they ve got this name for a reason) can't borrow from bank

[Misterwhisper]

"It is also illegal for foreigners to loan money to Thais."

 

I will make this my life's motto from now on.

[trainman34014]

A German should have been more intelligent than to loan money to any Thai but sadly many people leave their common sense in the Departure Lounge when they are on the way to Thailand !

[Seismic]

I have to agree with others here, they didnt want to pay him back so they went to the police.

 

[Broken Record]

26 minutes ago, fruitman said:

Never loan money to a Thai is the lesson to be learned.

 

Whereas you can lend money to Farangs with the utmost confidence you'll be paid back.  

[DavidVincent]

1 minute ago, Seismic said:

I have to agree with others here, they didnt want to pay him back so they went to the police.

 

And they were right, when you borrow from loan sharks you re probably already at the bottom..and having your loaner threatening you physically to get a 200% interest back make it a part of the deal IMO...I have no sympathy for thi german guy at all

[lostinisaan]

And he left a lot of happy people..... 

[BSJ]

I don't know what interest the German was charging so I won't condemn the guy for loaning money.   I wouldn't do it myself and no-one has asked me too....so I have nothing to gain or lose.

[Bule gila]

1 hour ago, fruitman said:

There must be hundreds of loansharks but they go after the German????

 

I was also asked to loan many to several Thai but i refused. Guess they offered the German a good rate so he agreed to loan them cash. Then more came to him and he agreed again.

 

Not a smart move but i don't think he was searching his customers himself, which German wants that? 

 

Almost ALL my wife's collegues loaned money to another college from Korat to expand his business. He promised to pay them a good interest (very high) but a year later he quit his job and they all never heard of him again. He ows them about 500.000 baht in total.

 

Also another girl loaned money from the whole department, quit her job and they never got it back.

 

Never loan money to a Thai is the lesson to be learned.

'Never lend money unless you can afford to lose it'. That's my rule of thumb and it's kept me in good stead in Asia.

[geriatrickid]

This has to be the strangest photo. Look at it: There is a guy who looks like he is 50 kg and age 16 on the lap top, while a rather obese man stands over  tiny boy. That kid is the size of fatso's thigh.

[waldroj]

"...Police said they didn’t know if Mueller had been tipped off about the raid..."

 

A German, and "not knowing" - now, what does that remind me of ???

 

 

[billd766]

1 hour ago, fruitman said:

There must be hundreds of loansharks but they go after the German????

 

I was also asked to loan many to several Thai but i refused. Guess they offered the German a good rate so he agreed to loan them cash. Then more came to him and he agreed again.

 

Not a smart move but i don't think he was searching his customers himself, which German wants that? 

 

Almost ALL my wife's collegues loaned money to another college from Korat to expand his business. He promised to pay them a good interest (very high) but a year later he quit his job and they all never heard of him again. He ows them about 500.000 baht in total.

 

Also another girl loaned money from the whole department, quit her job and they never got it back.

 

Never loan money to a Thai is the lesson to be learned.

 

Actually the true lesson is never lend money to anyone. That is what the banks are for.

 

You can lose friends and money too easily.

 

Polonius:
Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.

 

William Shakespeare

Hamlet Act 1, scene 3, 75–77

[Brer Fox]

1 hour ago, DavidVincent said:

So the guy went to Phuket but instead of keeping it quiet they paraded on the news...I am quite sure he will not come back...

Bibs couldn't wait until Sunday

Better to raid his house while he is away. That way they might be able to locate his loan stash and take out a non repayable loan for themselves. They could always leave a chit.

[ldiablo72]

4 hours ago, Misterwhisper said:

"It is also illegal for foreigners to loan money to Thais."
 
I will make this my life's motto from now on.

Yet it's not illegal for Thais to fleece foreigners out of their life savings.

[AlQaholic]

Well....He has both "Werner" and "Mueller" in his name, that in itself would be good material for a comedy show about Germans....

[greenchair]

Which madra is this law, it is illegal for a foreigner to lend money to a Thai . The man was giving small loans of a few thousand to twenty thousand baht to people. Hardly going to make a dent of competition to the Thai banking system. I have given and gotten loans of a few thousand baht. Most small communities, friends and families do that. 

This a really gutless and nasty thing to do by both villagers and the police. I'm not buying we borrow 10000 and must pay back 20000.

Liers and cheats 

[F4UCorsair]

2 hours ago, kmj said:

 

People who borrow, knowing they can't repay, then drop him In, aren't much better.

It's a two way street.

[LotusBoy]

Loan Shark? Is that not on the Farrang Prohibited List of Jobs, reserved for Thai National only 

[Ralf61]

1 hour ago, BSJ said:

I don't know what interest the German was charging

 

I usually get one box of Leo per 100,000THB and month, and I usually manage to sink one bottle out of that in the occasion of the payback-ceremony...

[phycokiller]

not a bad strategy, burrow from a foreigner then report him to the police and get him removed from the country. free loan

[masuk]

2 hours ago, fruitman said:

 

Great, i will refer to that if they ever ask me again.

it's a fact.  I've often loaned money to Thais,. and it seems to become a series of grants.