Alleged loan-shark kingpin linked to 1,000 state officials
A SENIOR Justice Ministry official believes the about-turn by Wichai Panngam, alleged leader of a major loan-shark gang, from surrendering as earlier promised was because of the fear that his interrogation would lead to the arrest of accomplices in high places.
Justice deputy permanent secretary Pol Colonel Dusadee Arayawuth said he had heard that Wichai, who reportedly has a similar financial leasing business in Cambodia, was still in Japan.
Wichai’s group allegedly has a revolving fund of Bt4 billion, a network of 2,000 moneylenders and 86 franchise branches lending money to some 170,000 borrowers nationwide. His network’s assets, worth about Bt150 million, were seized last week.
The gang, which charged up to 300 per cent in annual interest fees, also allegedly employed “helmet gang” debt collectors to pressure borrowers whose payments were overdue.
Authorities had reportedly issued two arrest warrants: one for Wichai and another for computer website administrator Chaiwuth Wiwattanaareekul, who is already in custody.
As for the 1,000 state officials identified only by nicknames, phone numbers and affiliated agencies who were linked to the network, Dusadee said the investigators had so far identified 165 officials and would continue to investigate until all of them were named to face indictments.
Department of Special Investigation officials and related agencies would today hold a meeting to consider assistance for the gang’s victims, he added.