Krabi loan shark arrested for violent tactics and high-interest rates

Police arrested a notorious loan shark in Krabi for charging exorbitant interest rates of 35% to 135% per year and assaulting debtors who failed to repay on time.

Yesterday, August 7, officers from the Cyber Crime Investigation Bureau (CCIB) and the Ao Luek Police Station executed a court-issued warrant to apprehend the suspect, Parinyada, also known as Lek, at her residence in Ao Luek Nuea subdistrict, Krabi province.

The officers seized several debtor account books as evidence, detailing loans ranging from 10,000 to 50,000 baht (US$280 to US$1,400), with monthly interest payments translating to annual rates between 35% and 135%.

The investigation began when officers discovered a Facebook page under the name Lek Fresh Fruit advertising illegal loans. The page prompted the police to gather sufficient evidence and request a search warrant from the Krabi Provincial Court, leading to the subsequent raid and arrest.

Police also uncovered video footage showing Lek physically assaulting debtors who failed to meet their repayment schedules. The videos, which captured multiple instances of such violent behaviour, served as crucial evidence in obtaining the arrest warrant, reported KhaoSod.

The initial charges include lending money at interest rates higher than those stipulated by law and conducting a money-lending business without proper authorisation. Following her arrest, Lek was taken to Ao Luek Police Station for further investigation and legal proceedings.

In related news, police swooped on an illegal loan shark network across six provinces, arresting key members and uncovering over 50 million baht in circulation. The operation targeted the notorious Boy Lang Khao gang, infamous for their exorbitant interest rates and violent debt collection methods.

The Police Economic Crime Suppression Division, led by Police Major General Phutthidej Boonkrapue, launched an extensive operation to dismantle illegal loan shark networks. Colonel Mekphisarn Sripirom spearheaded the raid with a team from Division 5 of the Economic Crime Suppression Division.