Indian and Thai man arrested in Phichit for "20% a day" loan sharking scheme

 

Picture: Thai News Agency

 

PHICHIT: -- Immigration police, soldiers and representatives of the government's Damrongtham watchdog have announced the arrest of an Indian man and his Thai partner who were running an illegal loan sharking business, Thai News Agency reported.

 

Arrested were 32 year old Gamlesh Kumar Panday and Samruam Jemsaen, 48.

 

Police said that they were loaning money out at interest rates of 20% per day which is illegal.

 

They were both detained along with 20,000 baht of debtor's money and 20 other items of evidence.

 

Source: Thai News Agency

 

-- © Copyright Thai Visa News 2017-02-23

 

1 minute ago, webfact said:

Police said that they were loaning money out at interest rates of 20% per day

This is reserved for Thai loan sharks.

Sorry pal, that is restricted to locals only!

He also does a nice line in underpants by the look of it.

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Is his Thai partner invisible?

 

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Try the 5-7 Indian money lenders on Soi Cowboy. I wonder what their work permit says and how much in taxes they pay?? THey are out in force between 6-8pm.  More of them than watch sellers now!!!!

Bargain....up to 50% a day in our village really!

Charging this sort of level of interest is just pure evil.

Taking advantage of desperate people like this is extortion, pure and simple.

I hope these two fellas are given a very lengthy period of time to reflect on their almost subhuman behaviour.

Scum.

2 hours ago, darksidedog said:

Charging this sort of level of interest is just pure evil.

Taking advantage of desperate people like this is extortion, pure and simple.

I hope these two fellas are given a very lengthy period of time to reflect on their almost subhuman behaviour.

Scum.

"Charging this sort of level of interest is just pure evil."

Do not be so tough with those poor guys it was only a 7300 % interest rate per year Pffff

 

For a lend of 10 000  ฿ for one year to some one

a year latter he gives back 73 000 000  ฿ . Try to understand business is business 

Edited February 23, 20179 yr by Tchooptip

A troll post has been removed

Looks like the Indian is taking all the blame,the Police

will now have his book of loans,will they be taking over

the collections.

regards Worgeordie