Police find 10 million baht dealings from Chon Buri loan shark gang

Police in Chon Buri raided a loan shark gang’s hideout, uncovering almost 10 million baht in financial transactions over the past three years. Residents and merchants had reported the gang’s menacing behaviour, including threats with firearms.

Law enforcement, led by Tianchai Lertmanitavit, and Thawi Kudtalaeng, conducted a raid yesterday in a house on Soi Phorapranimit 14/5, Nong Prue, Banglamung district. Acting on a Pattaya Provincial Court search warrant, the officers swooped into the residence, believed to be the gang’s operations hub for illegal lending activities.

The single-story house, occupying a 100-square-wa (400 square metres) plot, was fortified with numerous CCTV cameras. Five motorcycles and a Toyota Fortuner were parked in the garage. Inside, officers found 10 men asleep in the bedrooms and living area. The homeowner, 38 year old Chanin identified himself.

A search of the premises yielded significant evidence: two customer account books, two tablets, and two iPads used to log details of hundreds of debtors. The loans ranged from daily to monthly terms, with amounts starting from a few thousand baht up to tens of thousands. The gang’s operations generated a cash flow of 4 to 5 million baht per month.

Additional seizures included three 9mm bullets, 15 mobile phones, four bank account books, 12 baht weight of gold jewellery and amulets, and business cards promoting loans under the name Phusing Bai Sakulphat. Chanin claimed he had only been running the loan operation in Pattaya, Nong Prue, and Banglamung for the past two to three years, targeting mainly market vendors and small business owners. Loan amounts varied from 3,000 to 20,000 baht, with interest rates depending on the loan type, daily or monthly.

Chanin denied accusations of using firearms to intimidate debtors, stating that the bullets found belonged to a friend who had left them behind. He also claimed the capital for the loans, approximately 800,000 to 900,000 baht, came from himself and other investors.

Violent methods

Tianchai revealed that the raid resulted from tips from local merchants who reported the gang’s violent debt collection practices, including occasional threats with firearms. The loan shark operation was split into two groups, offering both daily and monthly loans with interest rates of 2% per day and 20% per month. Financial investigations indicated nearly 10 million baht circulated through their operations in the past two to three years.

“The search was prompted by complaints from merchants about the gang’s violent debt collection methods, which sometimes involved displaying firearms.”

The police charged the suspects and handed them over to the Nong Prue Police Station for further legal action, reported KhaoSod.