Chiang Mai loan shark arrested for illegal high-interest lending
A 33 year old man known as Oat has been apprehended for leading an illegal loan operation in Chiang Mai, involving high interest rates and intimidation tactics. This follows reports of aggressive debt collection methods in the Chai Sathan subdistrict of Saraphi district.
Yesterday, February 21, the loan shark gang reportedly threatened debtors at their homes. Social media posts revealed that locals were alarmed by the gang’s aggressive behaviour.
One debtor claimed that their noodle shop was vandalised after they missed a call, despite having no outstanding payments.
Today, February 22, several high-ranking police officers, including Police Lieutenant General Kritthapol Yisakhon, Police Major General Thawatchai Phongwiwatthanachai, and Police Major General Worapong Kamlue, joined forces to arrest Oat. He faces charges for conducting a personal loan business similar to a bank without a license and lending money at interest rates exceeding legal limits.
Police seized a silver Toyota Corona with the license plate กบ 4031 Chiang Mai and a black Oppo mobile phone as evidence. Pol. Lt. Gen. Kritthapol emphasised the importance of ensuring public safety in Region 5, reported KhaoSod.
He stressed that stringent action will be taken against such illegal financial entities to maintain law and order and protect residents from unlawful loan operations.
In similar news, police Region 4 apprehended two men for providing illegal loans with exorbitant interest rates, following the suicide of a fish vendor overwhelmed by debt. The suspects confessed to charging interest rates of 60% monthly.
On January 20, Police Lieutenant General Chatchai Surachetphong, commanded Police Major General Poomiphat Patrasriwongchai, Police Colonel Kraithong Chaising, and their investigation teams to arrest 24 year old Sumet and 22 year old Ratthichai at Waeng Nang Municipal Market in Mueang district, Maha Sarakham province.
The arrest followed information from hotel manager Jitpimon, who reported hearing a gunshot from a room. Upon investigation, the dead 33 year old fish vendor, Jakkrit, was found, having taken his own life due to financial stress from illegal loan debts.
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