Pattaya Daily News

25 May 2013 :: 14:05:35 pm 74884

Police Arrest A Loan Shark Gang That Offers Loans At Extremely High Interest Rates

Sattahip police were able to arrest a loan shark gang that offered loans at brutal interest rates. The rate was reported to be 60 percent of the money loaned.
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SATTAHIP – May 25, 2013 [Pattaya Daily News]; Police Col. Chanapat Nawalak, Director of Sattahip police station, together with Police Lt. Col. Prakorb Sangpring, Director of Suppression division, Police Col.Thapanat Chayanapat, Detective inspector, arrested a loan shark network, were the interest or money collectors wore black motorcycle helmets,. Police arrested 7 suspects ranging from as young as 18 and as old as 47. Loaning money at exaggerated interest rates in Thailand is forbidden by law.

Police Lt. Col. Nipon Pomsanam, Vice director of the detective division commanded the police officers in all areas to arrest the loan shark gangs. Most of the loan shark’s clients were market merchants, it was reported that they collected 2% daily interest which adds to 60% interest per month, which is an extremely high interest rate. Police are now further investigating the gang and will prosecute the arrest suspects.

Reporter : Nattaphummint   Photo : Nattaphummint   Category : Crime News

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