Over 2,400 wanted for alleged involvement in illegal money lending syndicate

[webfact]

Over 2,400 wanted for alleged involvement in illegal money lending syndicate

 

 

BANGKOK: -- The Department of Special Investigation plans to seek warrants for the arrest of over 2,400 people suspected of involvement in a major illegal money lending syndicate said to have networks throughout the country.

 

Justice deputy permanent secretary Pol Col Dusadee Arayavuth is scheduled to meet with Justice Minister Suwaphan Tanyuwattana next week to report on the progress of probe into the operations of illegal syndicate associated with Mr Wichai Punngarm who is currently on the run and believed to have fled out of the country.

 

Dusadee said that more than 2,400 people, excluding government officials, had been implicated in the illegal lending operations and would face arrest.

 

Full story: http://englishnews.thaipbs.or.th/2400-wanted-alleged-involvement-illegal-money-lending-syndicate/

 

-- © Copyright Thai PBS 2017-04-13

[onemorechang]

So  this lot maybe,  will  have a,   get out of jail free card. 

 

Quote

Dusadee said that more than 2,400 people, excluding government officials, had been implicated in the illegal lending operations and would face arrest.

Money lending,  is a nasty businesses to be involved in.

It brings misery to the masses

Lock them up,    if you can catch them all  

Edited April 12, 2017 by onemorechang

[colinneil]

Excluding government officials why?

D.S.I. plans to seek arrest warrants, what a waste of time.

All they will do is keep saying !! we are coming to get you !! then nothing.

 

[onemorechang]

16 minutes ago, colinneil said:

Excluding government officials why?

D.S.I. plans to seek arrest warrants, what a waste of time.

All they will do is keep saying !! we are coming to get you !! then nothing.

 

Maybe there will be a second list compiled.

using  invisible ink.

[clockman]

Better start building some more prisons!

[KIWIBATCH]

Maybe Thailand won't be the winner this week in Songkran deaths...but they will certainly take first place in "Scam week"...2,400 people sought in this one.....1000's with the travel scam at Suvarnabhumi airport. Has scam week replaced Songkran week by some chance? 

[wcoast]

Anyone know about a scheme Thais refer to as share. Basically you put an amount in every month along with maybe 5 other people for 6 months, depending when you entered the scheme you get to take that full amount you pay into, for instance pay 5000 for 6 months and you get 30,000 plus you pay 1% to the others on the months remaining since you took out your share. So if you are number 3, you get to take your share in the 3rd month.

 

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[timewilltell]

They need to get down to the land office in Phuket and check all the sale with right of redemption cases - used to skirt the law for money laundering and theft transfer of stolen property. The courts do nothing and I think we all have a good idea why money lenders always seem to get the benefit of any 'I didn't know anything about it' doubt

[bangkokfrog]

3 hours ago, wcoast said:

Anyone know about a scheme Thais refer to as share. Basically you put an amount in every month along with maybe 5 other people for 6 months, depending when you entered the scheme you get to take that full amount you pay into, for instance pay 5000 for 6 months and you get 30,000 plus you pay 1% to the others on the months remaining since you took out your share. So if you are number 3, you get to take your share in the 3rd month.

 

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My wife is in a similar syndicate where participants bid each month for the right to get the money early. For example, if you bid 200 baht then you have to pay each person who hasn't yet taken the money 200 baht. The only exception is the first month where the "sponsor"  (a trusted friend who arranges it all and guarantees completion if anyone drops out) gets first call on the money for no bid. In the early months people are often desperate for the dough and bid high amounts, making it quite a good deal for those who aren't in a hurry to take their share out.

[wcoast]

Thx for that info, language barrier shorted me on understanding the bidding idea. And yes it was mentioned that the person on top doesn't pay a bid fee. I guess I'm wondering if it's a pyramid scheme or not.

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[Nip]

5 hours ago, timewilltell said:

They need to get down to the land office in Phuket and check all the sale with right of redemption cases - used to skirt the law for money laundering and theft transfer of stolen property. The courts do nothing and I think we all have a good idea why money lenders always seem to get the benefit of any 'I didn't know anything about it' doubt

I seem to recall one of the many opportunist roving Governors making a commitment to the feckless Phuket Honorary Consules that an office would be set up to help deal with matters such as this. No surprise ... No Office ... Silent Obedient Consuls and No more monthly meetings. Shameful how our Embassies and Consulates become Thai conspirators.