Phayao Candidate Rep Charged with Public Fraud

CityNews – A Pheu Thai Party candidate representative is charged with public fraud in an illegal loan crackdown.

Royal Thai Police carried out a raid targeting 24 places in Chiang Mai, Lampang, Phayao and Lamphun in an illegal loan crackdown on March 13th. In Chiang Mai, police targeted four financiers and companies including Muang Thai Capital Co. Ltd., Chanakit Leasing Co. Ltd., Wiang Ping Ice Part. Ltd., and a couple Pibul and Mayuri Viriyachinakarn. 50 title deeds were seized with an estimated value of 50 million baht.

Another operation was carried out on the same day in Phayao, at Phayao 999 Leasing, where 35 title deeds valued over 30 million baht was seized. The crackdown also targeted a candidate representative from Pheu Thai Party, Wisut Chai-narun on public fraud. His assests including three houses, four cars, five bank accounts and a car care busisness valued over 170 million baht has been seized. He was reportedly wooing investors to invest in oil stock. No further explanation has been given.

This is the ninth crackdown on illegal loan businesses which has seized 1,087 title deeds with a total valued of over 1.1 billion baht, amongst which 673 deeds are in Chiang Mai valued over 700 million baht.