Police raid sites linked to alleged loan shark

[snoop1130]

Police raid sites linked to alleged loan shark

By Apichart Hongsakul 
The Nation

 

 

Officials raided four locations in Prachuap Khiri Khan province on Tuesday in a crackdown on an alleged loan shark who is said to have a total cash flow of more than Bt200 million.
 

Police raid sites linked to alleged loan shark

 

Found at the locations linked to the alleged loan shark, Sutee Tananantasiri, were 38 guns, land-title deeds, licence plates, and various valuables.

 

Pol General Wirachai Songmetta, the top adviser to the National Police Office, personally led police and soldiers in a joint operation against allegedly illegal money-lending services. 

 

“We have taken action in response to a complaint from a Prachuap Khiri Khan resident,” Wirachai said.

 

According to police, the complainant said he submitted land title deeds as collateral for a Bt370,000 loan, but found that the loan contract did not specify an interest rate. He claimed that Sutee’s armed henchmen used intimidation tactics in demanding repayments. 

 

Four more people lodged complaints against Sutee on Tuesday. 

 

Sutee faces charges of illegal money lending, imposing an illegally high interest rate, intimidation and related offences. If convicted, he faces a jail term and/or a fine. 

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30322473

 

-- © Copyright The Nation 2017-8-1

[trogers]

And the armoury in the photo is legitimate?

[Thaiwrath]

8 minutes ago, snoop1130 said:

He claimed that Sutee’s armed henchmen used intimidation tactics in demanding repayments. 

That is the normal when you deal with these money lending people. 

[ukrules]

I suspect some of these guns were used as collateral on loans.

[observer90210]

Such raids against armed criminal gangs make sense....well done boys!!

 

Just hope the loan sharks get locked up in a nice aquarium for a good bit of time!

[Lupatria]

13 hours ago, snoop1130 said:

loan shark who is said to have a total cash flow of more than Bt200 million.

With that, or probably more money, he's got a ticket to ride...

[geovalin]

No arrest. Right?

[impulse]

15 hours ago, snoop1130 said:

“We have taken action in response to a complaint from a Prachuap Khiri Khan resident,” Wirachai said.

 

According to police, the complainant said he submitted land title deeds as collateral for a Bt370,000 loan, but found that the loan contract did not specify an interest rate. He claimed that Sutee’s armed henchmen used intimidation tactics in demanding repayments. 

 

Four more people lodged complaints against Sutee on Tuesday. 

 

That makes 5 people who had better keep a low profile.  A little stupid for the cops to specify the exact loan amount, which is pretty sure to identify at least one of the 5.  Or maybe stupid like foxes depending on their desired outcome...

 

[CMKiwi]

There are loan sharks in every country that there are customers.  And once they have you in their teeth they are very reluctant to let you go.  

 

It amazes me that these people that go to the sharks dont realise this...20% per month would always send alarm bells off in my way of thinking. Thats equates to 240% over a year.  How do people get that desperate?  Lack of planning? Poor financial sense? Stupidity?  Or a combination of all?

 

Perhaps these people have complained as a way of getting out of their loan?  Id be very worried if these sharks/gansters have underworld contacts .... they dont like squeelers/narks and have been known to 'shut them up' permanently.

 

Nasty pieces of work and a very dangerous situation to get into

[The Dark Lord]

58 minutes ago, CMKiwi said:

There are loan sharks in every country that there are customers.  And once they have you in their teeth they are very reluctant to let you go.  

 

It amazes me that these people that go to the sharks dont realise this...20% per month would always send alarm bells off in my way of thinking. Thats equates to 240% over a year.  How do people get that desperate?  Lack of planning? Poor financial sense? Stupidity?  Or a combination of all?

 

Perhaps these people have complained as a way of getting out of their loan?  Id be very worried if these sharks/gansters have underworld contacts .... they dont like squeelers/narks and have been known to 'shut them up' permanently.

 

Nasty pieces of work and a very dangerous situation to get into

You should see the adverts on the tv in the uk for easy loans which kick back APR in excess of 1000% ( yes one thousand) 

[Srikcir]

22 hours ago, snoop1130 said:

“We have taken action in response to a complaint from a Prachuap Khiri Khan resident,”

If it weren't for that one complaint, police would have remained inactive? No independent investigations on their own looking into loan sharks?

[Reigntax]

They should diversify into lending out guns by the look of it.

[Reigntax]

On Tuesday, August 01, 2017 at 11:40 PM, Thaiwrath said:

That is the normal when you deal with these money lending people. 

 

Agree, but just more up front than the way large banks treat their customers.