Bangkok – Tan Huan Yu and his Thai accomplice Jamjuree Tanpan were found to have used a condominium in Bangkok as their office to operate the lending service since last year.
Police said over 1,000 borrowers had fallen victim to the loan shark with over THB30 million circulating in their bank accounts.
Their victims were lured to quick and easy loan but subsequently bound with high interests, police said.
To acquire the loan, the victims must give their personal information. Many of the debtors had been coerced and blackmailed after they failed to pay back their debts and interests.