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Police in Chon Buri announce crackdown on loan sharks

Jack Burton

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Police in Chon Buri announce crackdown on loan sharks | The Thaiger
PHOTOS: The Pattaya News
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Police in the eastern Chon Buri province held a large rally to announce a crackdown on loan sharks, in which they’ve already seized luxury cars, motorbikes, illegal weapons and ammunition. On Thursday, 709 police, led by the Chon Buri provincial police commander, attended a rally at the Bali Hai Pier in Pattaya to report on the ongoing crackdown.

Earlier in the week, Chon Buri police investigated a loan shark group who have reportedly been preying on those in financial trouble due to the Covid-19 crisis, offering loans at interest rates that violate Thai law, certainly extortionate rates. The gang allegedly found their victims via Facebook and other social media. Victims pawned their cars and motorbikes as collateral and the loan sharks charged them usurous interest rates, according to police at the rally.

Authorities arrested 3 prominent members of the gang after an investigation involving undercover agents. They reportedly seized 18 luxury cars and 10 motorbikes. The total value of the seized vehicles was estimated at about 20 million baht. Police say they’re working on identifying the victims to return their property.

Police in Chon Buri announce crackdown on loan sharks | News by The ThaigerPolice in Chon Buri announce crackdown on loan sharks | News by The ThaigerPolice in Chon Buri announce crackdown on loan sharks | News by The Thaiger

SOURCE: The Pattaya News

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Jack Burton is an American writer, broadcaster, linguist and journalist who has lived in Asia since 1987. A native of the state of Georgia, he attended the The University of Georgia's Henry Grady School of Journalism, which hands out journalism's prestigious Peabody Awards. His works have appeared in The China Post, The South China Morning Post, The International Herald Tribune and many magazines throughout Asia and the world. He is fluent in Mandarin and has appeared on television and radio for decades in Taiwan, Mainland China, Hong Kong and Macau.

3 Comments

3 Comments

  1. Avatar

    Toby Andrews

    August 8, 2020 at 5:07 pm

    Well they might as well go after people that have something to confiscate.
    It is a waste of time going after the Pattaya homeless.

  2. Avatar

    Rinky Stingpiece

    August 8, 2020 at 6:03 pm

    This is one of SEAsia’s real problems, so many people go into debt via different routes, and it forms part of the organised crime web. You can certainly find articles about “debt collectors” in Indonesia online, and I wouldn’t be surprised to see similar things in other ASEAN countries, although as the photo indicates, some countries in SEAsia have easier access to firearms than others. Philippines has plenty; Indonesia is much more of a machete culture, due to lack of access.

  3. Avatar

    James Pate

    August 9, 2020 at 3:52 am

    Announce a crackdown? ??? What a thoughtful heads up.

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