Loan shark gang run by Chinese national busted in Nonthaburi
Immigration Police arrested two suspects for operating a loan business without licence at a house in Nonthaburi province.
Immigration Police chief Pol Lt-General Sompong Chingduang announced the arrests on Friday in the Bangrak Phattana subdistrict.
Lian Bin Bin, a Chinese national, was arrested along with his Thai business partner Natchuta Kullachet.
Police also confiscated 13 mobile telephones, 15 bank passbooks and 10 credit cards found in the house.
The two suspects reportedly confessed that they had been running a loan shark business from a home office in Nonthaburi’s Bang Kraso district.
Police detained 66 employees who were working in the building for questioning, and confiscated over 100 items of desktop and laptop computers and mobile phones.
Bin Bin reportedly said that he had entered Thailand about a year ago to run a loan shark business with a Thai partner. The gang operates six mobile applications that provide loans of THB2,500 to THB10,000 per customer. It collects a borrowing fee up front at 30-42 per cent and charges interest at 5 per cent per day if the customer fails to pay back in seven days on top of a 12 per cent fine.
“Preliminary investigation reveals that the gang has around 70,000 customers,” said Somphong.
“Some of them were harassed via telephone by the gang’s debt collectors, prompting them to file complaints at Thung Mahamek Police Station, which eventually led to the issuance of the arrest warrants by the Criminal Court for the suspects.”