Nationwide crackdown on country’s largest loan shark network

By Piyanuch Tamnukasetchai 
The Nation

 

 

Authorities have carried out a series of raids in a nationwide crackdown on Thailand’s largest loan shark gang, which has a revolving fund of Bt4 billion, a network of 2,000 moneylenders and 86 franchise branches lending money to some 170,000 borrowers.

 

Officers are now focused on arresting gang members, including 4,000 “helmet gang” debt collectors and 1,000 officials identified by nicknames, phone numbers and affiliated agencies, Justice deputy permanent secretary Pol Colonel Dusadee Arayawuth told a press conference yesterday at the Department of Special Investigation (DSI) office.

 

Full story: http://www.nationmultimedia.com/news/national/30302743

 

 

 

-- © Copyright The Nation 2016-12-24

If it has taken 2 years of investigation to get to this point but miss getting the boss by a week, as he left the country.  I wonder what the activity in the accounts that handled  the 4 billion baht  referenced  to, looked like prior to the boss going on holiday? 

I would hope those in the know on this investigation will be investigated as to their association with the ''Boss''  as well as sudden wealth they have received.

 

Thailand needs to quote 2 employment numbers ''legal and illegal'' and forget the unemployment figures they are so proud of, (less than 1%).

Any links to prostitution or fishing industry slavery?

I have a theory (no evidence) that these sharks force the borrowers to sell their sons and daughters into slaveryto pay off their debts.

Can the police speed thing up by arresting themselves ?

A few non-repayable loans into the right pockets will soon have this investigation shut down.

The loan sharks exist due to a situation whereby where it is impossible for the borrowers to borrow from an upfront organisation  like a bank for instance.

 

Thailand allows this to happen  along with 'no pot to piss in' for many ordinary folk.

 

Saw in the papers today, 25% interest a day !! Once anyone is desperate enough to borrow money they are finished, their property if they have any is gone, and I say three cheers to the government for trying to do something about the awful exploitation of the needy. Hip...Hip.... :)

13 hours ago, rooster59 said:

Nationwide crackdown on country’s largest loan shark network

Somehow I simply cannot believe this is the biggest in Thailand.

13 hours ago, rooster59 said:

4,000 “helmet gang” debt collectors

Hard to find them ...  5555 They are the same working for debt collector companies, applied by the banks, in a case of bad loans.

8 minutes ago, Honthy said:

13 hours ago, rooster59 said:

4,000 “helmet gang” debt collectors

Hard to find them ...  5555 They are the same working for debt collector companies, applied by the banks, in a case of bad loans.

 

They're easy to find, since are the only ones that wear a helmet.

49 minutes ago, Honthy said:

Somehow I simply cannot believe this is the biggest in Thailand.

 

       Debt  is  way of life in  Thailand .

            Thai  culture .

38 minutes ago, elliss said:

 

       Debt  is  way of life in  Thailand .

            Thai  culture .

 

Yes, it is some kinda nostalgy. When we were poor.... ridiculous, but true.

I met some rich people and one of their main topics was that they could find something for 50 Baht and the "kanom" what we had just cost 20 Baht. And, obviously, they have debt, even if they are fairly rich...

13 hours ago, maoro2013 said:

The loan sharks exist due to a situation whereby where it is impossible for the borrowers to borrow from an upfront organisation  like a bank for instance.

 

Thailand allows this to happen  along with 'no pot to piss in' for many ordinary folk.

 

Exactly correct. Some citizens have no chance at all. They have no opportunity to make a decent living, and when some crisis occurs they are forced to go the the so called sharks. How about decent education and welfare for the ordinary folks.

Why do so many people, including me, cringe when they hear the word ' crackdown ' ?

Perhaps we're so used to knowing what it doesn't mean rather than what it does.

There  are  loan  sharks,  then  there  are the  VISA  and  Mastercard

American Express  and  other  charge  card  companies  who  also

charge  us  customers  a  lot.   Hmmmmmm.

Geezer    MERRY CHRISTMAS..