Police conducted multiple raids against suspected loan sharks and arrested eight in five major provinces.
Pol Maj Gen Thatphum Charuprat, commander of the Economic Crime Suppression Division, said on Sunday that police conducted the raids in Bangkok, Chiang Mai, Chon Buri, Khon Kaen and Pathum Thani on Friday and Saturday.
According to him, two men and a woman aged 29-48 were arrested in Chon Buri province for charging borrowers 2% daily interest rate or 730% annual interest rate. The two men were identified as Pong, 32, and Pimpan, 48. The woman was identified as Anchalee, 29.
Complainants told police that the gang distributed lending leaflets in communities and public places at night and had weapons while demanding repayment from debtors on a daily basis. Their financial transactions amounted to 12 million baht a day.
In Khon Kaen, police arrested a 31-year-old man, Nathanan, who opened the “Mc Money Credit” page on Facebook to attract potential borrowers. He told police he normally lent to business owners and charged a daily interest rate of 1.546%, or 564% a year.
In Pathum Thani, police arrested Suratin, 63, Rasarin, 59, and Pataraporn, 24. Their debtors alleged they charged 10% monthly interest or 120% yearly interest.
They also had borrowers sign official loan agreements with exaggerated lending amounts so that they could take legal action at courts to demand huge repayments and impound assets. For example, a debtor who actually borrowed 50,000 baht was required to sign an official loan agreement indicating an official loan worth 250,000 baht.
In Doi Saket district of Chiang Mai, police arrested Kalaya, a 46-year-old woman, who allegedly charged 186% yearly interest and required borrowers to pledge cars or motorcycles as collateral. Police found many such vehicles at her house.