Eight arrested in crackdown on loan sharks across five provinces

The Economic Crime Suppression Division (ECSD) conducted searches in five provinces on Sunday, arresting eight suspects for providing personal loans without authorisation and charging interest rates far above the legal limit.

ECSD officers carried out raids in Bangkok, Pathum Thani, Chonburi, Khon Kaen, and Chiang Mai following complaints from victims of alleged loan sharks.

Chonburi: Gang Leader Arrested

In Chonburi, police arrested an alleged loan shark leader accused of charging an exorbitant 730% annual interest rate. The suspect, identified as Pimphan, 48, reportedly owned and operated the Ploy Siam Fund loan firm. Two of her employees, Anchalee, 29, and Pong, 32, were also taken into custody.

Authorities seized approximately 200,000 business cards belonging to the firm, along with numerous loan documents.

Khon Kaen: Online Loan Scheme Busted

In Khon Kaen, police arrested Natthanan, 31, who allegedly ran a Facebook page called "MC Credits" to recruit borrowers. He is accused of charging an annual interest rate of 564.43%, targeting business owners as clients.

Pathum Thani & Bangkok: Three Suspects Detained

In Pathum Thani’s Sam Khok district and Bangkok’s Wang Thong Lang district, police arrested three suspects: Suratin, 63, Russarin, 59, and Patthaporn, 24. The trio allegedly provided illegal loans at an annual interest rate of 120%.

Worse still, police revealed that borrowers taking out loans of 50,000 baht were forced to sign contracts stating they owed 250,000 baht. The gang reportedly used these contracts to seize assets from multiple clients who failed to meet their payments.

Chiang Mai: Illegal Vehicle Mortgages

In Chiang Mai, police arrested Kalaya, 46, for allegedly soliciting clients to mortgage their motorcycles and cars while charging an annual interest rate of 186%. Several of her clients had previously filed complaints with the ECSD.

Seizure of Evidence

During the raids, police confiscated substantial evidence, including computers, mobile phones, tablets, bank account books, motorcycles, cars, mortgage documents, and land lease contracts.