German Loan Shark Suspect Takes Flight Before Raid

[khunpa]

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

 

LOL! Well, I will have to remember that one for next time my wife asks for money :-)

[Thaiwrath]

2 hours ago, khunpa said:

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

 

LOL! Well, I will have to remember that one for next time my wife asks for money :-)

 

That is classed as a donation, not a loan.

[Monkeyrobot]

2 hours ago, Anthony5 said:

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

 

I very much doubt that.

I will tell my GF and her family this news next time they want to borrow, made my day this story . I don't want to be arrested. 

[nausea]

If the info. in the source article is correct, this isn't your usual Farang loan/gift - the guy was keeping books, charging 200% interest, and threatening violence; in other words running a full-scale loan sharking business on the Thai model. How he thought he'd get away with it, as a Farang, is beyond me. 

[djayz]

The higher the risk, the higher the interest rate. Simple really. 

These people can't borrow (any more) from banks at the going interest rate for a reason... go figure. 

My old man gave me only two words of advice before I left home: 1) don't take the devil's drink (alcohol) and 2) never borrow or lend money. 

25 years older and wiser, I sure wish I had listened to him back then...

 

[hobobo]

3 hours ago, Anthony5 said:

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

 

I very much doubt that.

I tried saying that to my ex and ended with a black eye!

[BigFun]

Probably cheap loans compared to Thai loan sharks.

[lostinisaan]

1 hour ago, AlQaholic said:

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

 

 

 

 

 

  I don't get your joke. Mueller's a pretty common name originating from old occupations = Miller.

Werner von Braun was a real smartass, so where's your point?

Oh, you just dislike Germans and see that as a great opportunity to express your feelings?

 

   BTW, Mueller is also pretty much common in other countries. 

 AMERICA, ENGLAND & WALES & SCOTLAND

             1840             1880             1920           

1. 1840
2. 1880
3. 1920

 

Number of Mueller families

698 - 1,393   233 - 697

1 - 232

from the 1920 US Federal Census Data

 

 

 

 

        

 

     

 

        

Edited November 25, 2016 by lostinisaan

[trogers]

2 hours ago, trainman34014 said:

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 !

 

Greed often supercedes intelligence...

[jolive]

Thai loan shark operate throughout the country and even they been reported to the authorities nothing will happen to them due to their connection with the authorities.. This German must have forgotten where he is and how the law goes in this country..


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[seedy]

Post containing the F word removed. I see this is not your first time - let it be your last.

[KhunBENQ]

51 minutes ago, phycokiller said:

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

Exactly my thought.

I don't buy this story.

Also it is unusual to name a fix amount to return.

Usually there is monthly interest rate.

For how long did they lend?

 

Nice lenders want 3% per month with some form of guarantee (depositing land documents or things). Better conditions for lending on gold.

Without guarantee interest raises from 5% to open sea (where the sharks are).

 

Licensed lenders advertise with 1.25% but I don't know what guarantee they expect for that.

Maybe a full blown mortgage on land or house.

 

Who suggests to go to the banks has no idea that these people will never get a bank loan at the commercial banks.

BAAC has some special programs on agricultural stuff (buying machines or the like?).

 

Tell me where the shark starts?

 

My wife has given many loans successfully for example to people to finance their overseas job migration (paying the agents, sharks?).

[catman20]

3 hours 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.

a ex girlfriend of mine lost about 1 million baht through lending it to Thai people cant say i was saddened by that news as it only went the same way she got it in the first place. the word karma come to mind.feels great.

Edited November 25, 2016 by catman20

[lostinisaan]

German Loan Shark Suspect Takes Flight Before Raid

 

People who're so well connected like the German are usually  good friend with the highest cops who of course called him to make a bird.

 

        What shocks me is that he seems to "follow the brutal traditional" way, where people first break some bones if the money isn't coming in and finally tell them to better hang themselves, or anybody else would "help him, or her".

 

   Happened not far from our place many moons ago where a lady had hung herself because she couldn't cope with the  financial requirements.

 

   One of the local loan sharks got killed in bright day- light when he wanted to eat his Somtam. Two guys on a motorbike wearing helmets stopped, one walked to his table and shot him twice in his head. Disappeared, nobody could remember anything and the guys were never found.

 

    Thais are pretty good in not seeing important things. Watch out for your face.... 

 

 

  

[Regyai]

Never lend money for medical reasons

 

 

 

 

Always causes amnesia

 

[puukao]

I just borrowed 100 million baht from him at 397 percent!!!!

 

do i still need to pay him back?

 

when is my flight again.....

[louse1953]

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

Well my village is stuffed then.And what,you can charge interest!!!!!

[monkey4u]

3 hours ago, Broken Record said:

 

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

 And Santa is real

[ClutchClark]

3 hours 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
 

 

A very short-sighted farang.

 

Who here cannot see that the borrower has an incentive to do exactly what was done here? Lodge a complaint to get you removed from the country.  

 

 

[lemonjelly]

Prolly a misprint in article, I think that it's meant to be 20,000 thb on a 100,000 thb loan, 20% monthly interest, which is the norm in Thailand. Loads of Thai do this to make a living, common knowledge


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[Bangel72]

I've noticed an increase in people borrowing money these days, personally I think there should be a big crack down on it.

 

It sounds a bit harsh but by forcing people to live on what they have would generally be a better outcome than going into jaws of a loan shark.

 

I've also seen so called friends lend to each looking for 10% to 20% interest a month, not sure they really grasp the concept of friendship but I'd also suggest a crack down even at this level, there are no winners.

 

Some people will still need access to emergency funds, the government should provide a cheap regulated way to achieve this.

 

Sky rocketing medical bills are a part of this no doubt, so many people live hand to mouth that one bout of sickness can put them in a debt loop that they will never get out of. 

 

And don't get me started on the bank's, empowering people for a short while to live beyond their means in exchange for a lifetime of debt.

 

Don't lend if you cannot get by without getting it back.

[khunPer]

4 hours ago, Anthony5 said:

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

 

I very much doubt that.

Exactly what I also noted – so that's why, when a farang borrow out some money to the extended Thai-family, the money never walk back home again...

[NextStationBangkok]

Cannot believe, his wife has no knowledge. Then how can he explain his client that i pay you 10,000 and you pay me back 20,000.

 

[Mickmouse1]

Local.loan sharks sold him out.

Most lenders take good collateral for big loans.Most loan sharks have a weekly meeting in their respective territories to discuss the market.All have the local Sr Police on their pay roll.

Most important lesson here is" Can not lend or loan money to local Thais as it is ILLEGAL" 

So please don't ask me for a loan?

[gdgbb]

3 hours ago, geriatrickid said:

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.

This has to be the strangest comment...do you have x-ray vision that enables you to see the legs of the completely-obscured-from-the-chest-down officer?

[gdgbb]

3 hours ago, ldiablo72 said:

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

No, but foreigners have the option to ensure that doesn't happen, it's not difficult.

[greenchair]

2 hours ago, nausea said:

If the info. in the source article is correct, this isn't your usual Farang loan/gift - the guy was keeping books, charging 200% interest, and threatening violence; in other words running a full-scale loan sharking business on the Thai model. How he thought he'd get away with it, as a Farang, is beyond me. 

 

So the borrowers that don't want to honour their agreement say ?????

[les Dennis]

3 hours ago, billd766 said:

 

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

Never lend people money, it gives them amnesia. 
-- Groucho Marx.

[StefanBBK]

Here loaning is in Indian hands. i think if you borrow 6,000, you have to pay 300 baht a day for 25 days. 

These are small loans, short term, almost always to workers who would not get any money from the banks. I often said to my wife that it is tempting to do that business. 

Also know of a thai loaning 25 k and charging 5 k interest per month, until paid back. 

This is going on all over the place. guess the German did it a tat too professional. 

[A1Str8]

The people complained to the cops that the interest was high. How come they didn't complain about his operations when they needed his money because the banks refused to lend them any.