Indian national arrested in Thai province for illegal high-interest loan operation

As part of a crackdown on illegal loan activities, police authorities from the Debt-related Crime Prevention Centre and the Eighth Provincial Police Region (DCPC & PPR8) apprehended Yadav Durgesh, an Indian national aged 29, for operating an unlicensed money lending business. The arrest took place on December 27 at a rental property in Ban Na San, Surat Thani, where Yadav was found to be charging an interest rate exceeding the legal limit on his loans.

Yadav’s illicit operation was first flagged following an investigation into unusual activities at his residence, which he had rented to accommodate foreign nationals, who were suspected of extending loans to locals and residents. This led to a collaborative operation between the DCPC & PPR8, the Surat Thani Provincial Police, and the Ban Na San police station to monitor Yadav’s activities.

Yadav was found to be making daily rounds on a motorcycle, collecting interest from clients. On the day of his arrest, he attempted to evade capture by fleeing towards the Huay Mud community. However, the police were able to apprehend him at his rented property, where he had retreated in an attempt to elude the officers.

Upon questioning, Yadav confessed to the illegal money lending operation, admitting to charging an exorbitant 20% daily interest rate. The loan agreement required borrowers to repay the principal amount, along with the accrued interest, within 24 days, reported Khao Sod.

Following his confession, Yadav was handed over to the investigation officer at the Ban Na San police station. He was charged with “working as a foreigner (conducting a lending business) without permission, and lending money to others at an interest rate higher than legally permissible”. The case is awaiting further legal proceedings.

In related news, back in late November, an Indian national, operating an illegal loan scheme in Ang Thong, is arrested after residents reported exorbitant interest rates and violent threats. The loan shark targeted market traders, disguising the operation as a roaming sales business. The arrest follows an investigation revealing daily interest rates of 20%.