BANGKOK, Thailand – Central Investigation Bureau (CIB) police have dismantled a loan shark gang charging borrowers up to 626.25% interest per year, with more than 30 million baht circulating through the scheme.
Officers arrested three suspects — Mr. Natthapong, 36, Mr. Vinet, 28, and Mr. Thirawut, 34 — in Uthai District, Phra Nakhon Si Ayutthaya province. They face charges of operating an unlicensed lending business and collecting interest rates far exceeding legal limits. Several items of evidence were seized.
Investigators said the network targeted small business operators struggling with liquidity and unable to access legal credit. Borrowers were not required to provide ID verification or guarantors. Loans were transferred via internet banking, but interest payments were deducted upfront from the first and last installments. Those who defaulted were allegedly harassed and intimidated by the gang. (TNA)
