Major loan-shark network busted

[webfact]

Major loan-shark network busted
By THE NATION

 

 

BANGKOK: -- POLICE CRACKED down on loan-shark networks with working funds of more than Bt100 million in Phetchaburi province yesterday.

 

An operation involving 50 police officers was launched in Suphan Buri and Phetchaburi provinces as part of the Royal Thai Police and government’s policy to tackle illegal loan sharks.

 

A key target was a house in Phetchaburi owned by Chanpen Kaewmeesee, a 32-year-old lender known in the business as “Sai Jad Tem”. Officers found a bunch of document folders that kept records of loans as well as five guns stored in a safe on the second floor of the house.

 

Police also searched Chanpen’s office premises, which hosts a business branded “Excellent”, and found 20 motorcycles. All the items were confiscated for further examination.

 

It was found that Chanpen had more than Bt100 million in circulation. She also owned three of the five guns found in her house. The two others belonged to her boyfriend Suradet Suksamran, 39, a member of the municipality of the province’s Tambon Ban Lad who was also at Chanpen’s house during the raid.

 

The guns were all found to be legally owned. But Suradet was charged with illegally carrying firearms in public because his guns were found in another person’s house. 

 

Chanpen allegedly confessed to lending money for more than eight years, starting with Bt90,000 capital. 

 

She was charged with lending money at interest rates higher than permitted by law. 

 

Police also cracked down on another loan-shark network under the name “Cheap Development Company” in Suphan Buri. The company has been registered as a finance business.

 

Investigators said that the network had more than Bt4 million in circulation. 

 

Police said the two loan-shark networks were unconnected.

 

Source: http://www.nationmultimedia.com/news/national/30311098

 

-- © Copyright The Nation 2017-04-03

[ezzra]

52 minutes ago, webfact said:

Chanpen allegedly confessed to lending money for more than eight years, starting with Bt90,000 capital. 

Warren Buffet, Bill Gate and Richard Branson has nothing on this woman,

from 90 k to 100 millions, and all of it on the back and misery of her fellow

country men and woman,, Buddhism at it's best....

[sanukjim]

How about this scenario,The head BIB in the area that has information about this operation is preparing for the raid,Then he has maybe 10 of his relatives "Borrow" about one million baht each .And one of his lower BIB members borrow 10,000 baht.He now has evidence (the 10,000) and during the raid the contracts that his relatives signed disappears.He has now gained 10 million baht and nobody is the wiser..

[timewilltell]

Funny they are charging her with lending above the legal limit on interest yet money lender in my fraud cases all admit to charging over the limit and front liading the interest but the courts simply ignore it. I wonder why

[FritsSikkink]

2 hours ago, sanukjim said:

How about this scenario,The head BIB in the area that has information about this operation is preparing for the raid,Then he has maybe 10 of his relatives "Borrow" about one million baht each .And one of his lower BIB members borrow 10,000 baht.He now has evidence (the 10,000) and during the raid the contracts that his relatives signed disappears.He has now gained 10 million baht and nobody is the wiser..

You should write a book.

[darksidedog]

I would like to know where the money is going to end up. I fail to believe it will ALL end up in the Government coffers.