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Loan Shark Network Charging 304% Interest Arrested in Chiang Mai

Loan Shark Network Charging 304% Interest Arrested in Chiang Mai

Matichon•General•2d ago

Reader Briefing

A 19-year-old individual arrested in Chiang Mai for operating an illegal loan shark network with exorbitant 304% annual interest rates, despite being apprehended three times previously.

  • •A 19-year-old man, identified as Pak in, was arrested in Chiang Mai for operating an illegal loan shark network.
  • •The network, known as 'Ngern Duang Tan Jai' (Quick Cash), charged an annual interest rate of 304%.
  • •This is the fourth arrest for the network, with the individual and others having been caught three times within the past year.
  • •The group distributed flyers extensively across Chiang Mai, causing public nuisance, and used aggressive debt collection tactics.

Overview

  • •On May 23, a 19-year-old named Pak in was arrested in Chiang Mai.
  • •Pak in was arrested under an arrest warrant for operating an unlicensed personal loan business and charging interest above the legal rate.
  • •The 'Ngern Duang Tan Jai' network charged interest of 20% per 24 days, equivalent to 304% per year.
  • •Residents of Chiang Mai suffered from littering of loan flyers, causing annoyance and impacting the city's image and environment.
  • •The network had been previously apprehended three times within one year but continued its illegal operations.
  • •Pak in admitted to being employed by the 'Ngern Duang Tan Jai' network to distribute flyers and acknowledged charging interest above the legal limit.
  • •The arrest was made following public complaints about the loan shark network's activities.
  • •Pak in was handed over to the Sarparee Police Station for legal proceedings.

Full article content is available on the original source.

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Source: Matichon (Original)

Key Quotes

Pak in
"I have a profession of lending money for the 'Quick Cash' network under the supervision of a boss named Flam. I have been doing this for about 1 year, with the duty of distributing flyers in villages, shops, markets, and public places to advertise off-system loans."
ตนมีอาชีพปล่อยเงินกู้ให้กับเครือข่าย เงินด่วนทันใจ ภายใต้การดูแลของหัวหน้าชื่อ เฟลม ทำมาแล้วประมาณ 1 ปี โดยมีหน้าที่นำใบปลิวไปโปรยตามหมู่บ้าน ร้านค้า ตลาด และสถานที่สาธารณะต่างๆ เพื่อโฆษณาปล่อยเงินกู้นอกระบบ

Key Entities

Organization

Crime Suppression Division(กองปราบ)
The Thai police agency that led the operation to arrest the loan shark network.
Quick Cash(เงินด่วนทันใจ)
The name of the illegal loan shark network operating in Chiang Mai.
Chiang Mai Provincial Court(ศาลจังหวัดเชียงใหม่)
The court that previously sentenced Pak in to a suspended jail term.
Sarparee Police Station(สภ.สารภี)
The police station where Pak in was taken for legal proceedings.

Person

Pol. Maj. Gen. Pattanashak Bubpasuwan(พล.ต.ต.พัฒนศักดิ์ บุบผาสุวรรณ)
Commander of the Crime Suppression Division who ordered the arrest operation.
Pol. Col. Aekasit Pansita(พ.ต.อ.เอกสิทธิ์ ปานสีทา)
Director of Subdistrict 4, Crime Suppression Division, involved in the arrest.
Pol. Lt. Col. Jirattawat Kijrungsrungsri(พ.ต.ท.จิรัฎฐวัฒน์ กิจรุ่งเรืองเดช)
An interviewing officer from Subdistrict 4, Crime Suppression Division, involved in the arrest.
Pol. Maj. Ditashak Chotetiansorn(พ.ต.ต.ดิฐาศักดิ์ โชติเธียรศรณ์)
An interviewing officer from Subdistrict 4, Crime Suppression Division, involved in the arrest.
Pak in(นายภาคิน)
A 19-year-old individual arrested for operating an illegal loan shark network.

Place

Chiang Mai Province(จ.เชียงใหม่)ℹ️
The primary location where the loan shark network distributed flyers and where the arrest took place.
Chomphu Subdistrict(ต.ชมภู)
The subdistrict in Saraphee District where the arrest occurred.
Saraphee District(อ.สารภี)
The district in Chiang Mai Province where the arrest took place.
Chanthaburi Province(จ.จันทบุรี)ℹ️
A province where the controller of the loan shark network is located.
Rayong Province(จ.ระยอง)ℹ️
A province where the controller of the loan shark network is located.