FRIDAY, March 29, 2024
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Nationwide crackdown on country’s largest loan shark network

Nationwide crackdown on country’s largest loan shark network

Authorities have carried out a series of raids in a nationwide crackdown on Thailand’s largest loan shark gang, which has a revolving fund of Bt4 billion, a network of 2,000 moneylenders and 86 franchise branches lending money to some 170,000 borrowers.

Officers are now focused on arresting gang members, including 4,000 “helmet gang” debt collectors and 1,000 officials identified by nicknames, phone numbers and affiliated agencies, Justice deputy permanent secretary Pol Colonel Dusadee Arayawuth told a press conference yesterday at the Department of Special Investigation (DSI) office.
DSI chief Pol Colonel Paisit Wongmuang said arrest warrants would soon be issued for 2,000 to 3,000 peoฌple allegedly involved with the gang.
Dusadee said the Justice Ministry had sent a list of 3,000 officials and influential figures allegedly involved in the illegal loan business to the National Council for Peace and Order (NCPO). Borrowers were charged up to 300 per cent in annual interest fees.
Dusadee said earlier this week the multiagency teams raided 26 locations in Pathum Thani, Chiang Mai, Songkhla and Khon Kaen that were linked to the Pathum Thanibased syndicate that reportedly overcharged interest and employed debt collectors to harass overdue borrowers. 
The raids led to the seizure of 26 cars, 86 motorcycles, 14 safe boxes with cash in various currencies and valuables, five landtitle deeds, four guns and 309 rounds of ammunition, as well as freezing the gang’s 28 bank accounts. The impounded assets were worth about Bt150 million. 
Next week, the DSI, Army, police and Justice Ministry officials will meet to discuss how to crack down on illegal moneylenders, while the names of 170,000 borrowers will be given to the NCPO, police and local officials so they can provide them security, Dusadee said. He said he would ask investigators to check on a report that some 1,600 motorcycles were used in illegal debt collection and the department might offer a reward to those giving informaฌtion on such vehicles, believed to park at malls and fairs. 
Alleged gang leader Wichai Panngam remains at large, as he went on a trip abroad with his family earlier this week. The gang’s computer website administrator Chaiwuth Wiwattanaareekul was in custody, according to DSI deputy chief Pol Major Suriya Singhakamon, who said they had been investigating this network for two years.
Suriya also urged anyone who kept assets in their names for the gang to step forward. 
 

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