Authorities bust 2 brutal loan sharks in central Thailand

Thai authorities busted two brutal loan sharks in Thailand’s central Pathum Thani province yesterday.
The Economic Crime Suppression Division (ECSD) arrested the mortgage sharks, a 42 yr outdated lady named Natthajaree Muangthong and a forty three year previous man named Thanachai Ruangphueng. The people were accused of “conducting unauthorised personal lending and charging interest rates exceeding these permitted by regulation.” They had been arrested during a raid on a home in Khlong Luang district, in Khlong Nueng sub-district.
According to Bangkok Post, the suspects had been working illegal money lending providers with rates of interest as excessive as 304% per year. An ECSD commander mentioned that Those who failed to pay their loans or delayed funds had been denounced and intimidated online.
In early March, several victims sought help from the Debt Offender Suppression Centre and the Royal Thai Police. The victims reported a group of individuals utilizing Facebook to promote money lending and funding opportunities, including gold deposit schemes and luxurious brand merchandise. The group allegedly charged exorbitant interest rates and harassed delinquent debtors by posting defamatory content on social media. This public shaming has brought on great distress to the victims who concern potential hurt to their lives.
Giveaway revealed that the prime suspect, Natthajaree utilised her personal Facebook account to promote loan provides and entice others to participate in the funding schemes for gold and high-end products. The police subsequently gathered proof and obtained a search warrant for the suspects’ residence.
Upon looking out the property, officers discovered Natthajaree and her husband, Tanachai, living within the residence. Both suspects confessed to involvement in money lending and selling funding schemes for gold deposits and luxury objects. They claimed ignorance about the interest rates exceeding those permitted by regulation. As a result, both people were handed over to ECSD officers for further legal proceedings..

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