Police blow hole in Pattaya loan shark ring

Pol. Lt. Gen. Montri Yimyam inspects vehicles seized off allegedly loan shark Thawatchai Jantanadum.

Police punched a hole in a Pattaya-area loan-sharking ring, seizing dozens of vehicles and arresting the gang’s alleged fence.

Provincial Police Region 2 commander Pol. Lt. Gen. Montri Yimyam and the head of Chonburi and Nongprue police announced the arrest of Thawatchai Jantanadum, owner of P Phone on Soi Boonsamphan 9, June 24 following a raid on the loan-sharking ring’s warehouse in Nongprue.

The raid netted 12 vehicles and 11 motorcycles, and a subsequent search of Thawatchai’s condo building found several more vehicles, plus 36 illegal loan contacts, numerous property-ownership transfer documents and a loaded gun.

Police said the loan sharks – most of whom remain at large – loaned money at 120 percent interest per year and seized motor vehicles and condos when the loans weren’t repaid.

Thawatchai, who was found with .22 Thai Pradith revolver and 47 bullets, allegedly worked to fence the ill-gotten property, police said.

Thawatchai has been charged with possessing a gun and bullets with no permit and had his 3 land titles and a condominium possession certificate seized.

He was also charged with loan-sharking and receiving stolen property charges.

Police inspect the sidearm and car keys confiscated in the raid.