Pattaya —
Pattaya police dismantled a loan shark gang early on July 12th, 2024, and arrested several Thais for illegally conducting a lending business and possessing ammunition.
At 7:30 AM today, a team of police officers from the Nongprue Police Station raided a house in Pattaya Green Ville Village on Soi Phonprapanimit, suspected of being a base for illegal loan shark operations.
The raid was prompted by complaints from local residents and business owners who reported being intimidated and threatened with guns by debt collectors working for the loan shark gang.
Upon entering the one-story house, police found 10 men sleeping in the bedrooms and living room. 38-year-old Mr. Chanin Kannsarn from Chanthaburi province identified himself as the homeowner.
Police searched the premises and seized several pieces of evidence, including two notebooks containing a list of loan customers, two tablets used to record loan details, ammunition for a 9mm pistol, 15 mobile phones, four bank account books, jewelry, and hundreds of business cards advertising loan services.
Officers also found five motorbikes and a pickup truck parked around the house.
Initially, Mr. Chanin, the homeowner, reportedly admitted to conducting a lending business in Pattaya, Nongprue, and Banglamung for the past 2-3 years. He stated that his clients were mainly local vendors and shopkeepers, and that he offered loans ranging from 3,000 to 20,000 baht with daily or monthly interest rates.
Mr. Chanin said he has nine collectors working for him. However, he affirmed that none of these collectors have ever used a firearm to threaten debtors. As for the bullets found, he alleged they belonged to his friend who forgot them at his house.
According to Pol. Col. Thianchai Lertmaneethaweesap, the leader of the operation, the suspects operated two separate money lending operations, charging interest rates of 2% per day and 20% per month. The group had nearly 10 million baht circulating in their financial transactions over the past 2-3 years.
The group has been initially charged with “Conducting a lending business without a license,” which carries a penalty of 1-5 years imprisonment and a fine from 100,000 to 500,000 baht. They were also charged with “Charging interest rates exceeding the legal limit,” which carries a penalty of up to 2 years imprisonment and a fine of up to 200,000 baht.
