Four arrested as police bust loanshark gang in Chon Buri
Four suspected members of a loanshark gang that allegedly charged interest of 2 per cent a day and threatened non-payers with violence, were arrested in Chon Buri's Sri Racha district.
Confiscated evidence included 428 loan contracts, 32 account books to record loans, and 4,000 loan-advertising leaflets, Chon Buri police chief Pol Maj General Somprasong Yentuam said on Thursday.
Suspects Pracha Sapsasom, Anirut Onwong, Pongpat Onsri, Natthawut Jonjaijit were arrested after people complained that the "Hia Mha's loan gang" charged an illegal high interest rate and collected the interest from borrowers daily.
Borrowers who failed to pay were also allegedly threatened and had their properties damaged by the debt collectors.
The four are facing charges of operating an illegal loan service and overcharging loan interest.
Somprasong said police would continue the investigation to reach accomplices, including the Chanthaburi-based investor behind the gang.
He said the gang lent a total of Bt5 million to debtors and would mostly collect only the interest which amounted to at least Bt500,000 a month.
One of the suspects reportedly told police that he lent money and collected interest in exchange for a salary of Bt10,000 per month.