Banglamung police seize over two dozen vehicles from alleged illegal loan shark group

Banglamung-


A reportedly prominent member of an alleged group of illegal loan sharks has been arrested while over two dozen vehicles were seized in Banglamung earlier this week, according to Banglamung Police.

Yesterday, a team of police led by the Region 2 Police Commander Major General Montri Yimyam and the Nongprue Police Chief Colonel Chitdaecha Songhong revealed the results of the seizure of assets to the associated Thai press.

The Banglamung police raided a warehouse and a separate home in Nongprue where they proceeded to seize thirty cars and motorbikes as evidence against the group.

The vehicles seized are from borrowers that were taken as collateral, according to Banglamung police. The primary offense was the group was reportedly not licensed and allegedly charging interest rates higher than the legal limits in Thailand. Banglamung police allege the group were preying on people down on their luck due to the Covid19 Coronavirus crisis.

Police also arrested a Thai man reportedly associated with the group, Tawatchai Jantondam, age not given. Additionally, seized from him were two handguns and 50 bullets that he did not have a proper license for.

He has been charged with illegal possession of firearms and ammunition as well as operating an illegal loan service that charges rates of interest higher than the maximum amount allowed by Thai law.

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