Bangkok and Chon Buri police arrest 9 suspects they believe were part of loan shark operation

Bangkok and Chon Buri police arrested 9 people through combined raids on what police believe were locations used for illegal loan shark apps. The arrests happened earlier this morning.

Thai media reports that 6 of the suspects are Thai nationals and the remaining 3 suspects are Chinese nationals.

Economic Crime Suppression Division police and the Provincial Police Region 2 took in the 9 suspected loan shark operatives after they raided 10 locations throughout Bangkok and Chon Buri.

The suspects stand accused of being involved in illegal lending services that charged excessively high interest rates through the KAKA and the KIKO applications.

Padol Chandon, a superintendent from the ECD, says the 3 Chinese nationals were illegal creditors. Padol adds that 5 of the Thai nations involved had opened bank accounts to help move money around and that the 6th suspect acted as a debt collector.

Police seized 5 notebook computers, 14 mobile phones, and 13 bank books as evidence. They also impounded 37 bank accounts.

Thai media reports that the Chinese suspects are known as Chu, Zhiping, and Song. The names of the Thai suspects were not provided.

The bust happened after a number of complaints were lodged by people who said they had issues borrowing money through the KAKA and the KIKO apps, says Padol.

Padol adds that the suspects’ transactions totalled around 400 million for just over 2 months. He says the gang moved money around fast to dodge legal repercussions. He says the gang also tried to obscure their location.

The superintendent concluded his remarks by saying there are 2 suspects still out there.

SOURCE: Bangkok Post