Book of 1000 victims of alleged Indian loan sharks found in arrest
Tourism police have arrested two Indian men for allegedly overcharging interest from their debtors, special police advisor Pol General Thanitsak Theerasawat said on Monday.
The first arrest was made on January 27 when police arrested Sudhakar Kumar Yadav, an Indian, in Soi Sukhumvit 24/1 in Klong Toey district on a charge of demanding higher interest than that allowed under the law.
Police then extended the investigation, leading to the arrest of Maddeshiya Sanoths Kumar in Soi Sukhumvit 50 in the same district.
Thanitsak said Kumar was collecting interest from his debtors when he was rounded up. Police found cash of Bt4,000 on Kumar and a book listing the names of his debtors.
Speaking to the same press conference, Pol Maj-General Surachet Hakparn, deputy tourism police commissioner, said both suspects have lived in Thailand a long time. The investigation discovered a criminal network involving Indians associated with the crime.
Examining the book, police found about 1,000 names of debtors, most of whom were Thai. They borrowed money ranging from Bt1,000 to Bt100,000 from the Indians with an interest rate of about two to three per cent, higher than is allowed under Thai law.
The investigation continues and police expect to arrest accomplices involved in the network.
Police are investigating to arrest more accomplices involved in the crime.