Police raid suspected cash shark operations center, many evading justice

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A suspected online lending network has been dismantled in Nonthaburi, a province north of Bangkok.

Police said the loan operation was led by Chinese nationals. Police arrested several people after raiding 3 buildings in the Pailin Park housing estate yesterday.

According to the police, the financial aid network granted loans at exorbitant interest rates through the application “Chang Phueak, Chang Mue Archeep Ngernkoo Deetheesuk” or “Chang Phueak, professional lender and best loans”.

Thai media reports that when the suspected money lenders saw the police, “at least” 50 people ran out of the building. 30 of the 50 were captured and arrested, 20 managed to escape despite a heavy police presence. 130 computers and documents containing the names of the borrowers were seized as evidence.

The leader of the raid, CSD commander Suwat Saengnum, said they raided the area after receiving a complaint that loan sharks were renting the building.

Police said the clients were Thais with financial problems. They say illicit money lenders would send “debt collectors” to intimidate late paying customers. They also sent messages.

Suwat says the loan operation has been working for many years. He says the operation continued to move to different offices to evade authorities. Previously, they had worked in Chiang Rai, Phetchaburi and Chon Buri before moving to Nonthaburi 2 months before.

Those arrested will be charged with laws regarding loan interest rates and financial institutions.

SOURCE: Chiang Rai weather

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