Police Arrest Four Suspected Loan Sharks

 | Thu 20 Nov 2014 23:41 ICT

CityNews – Chiang Mai police have arrested four suspected members of a loan-shark gang in a crackdown on illegal money lenders.
The four suspects at Changpuek police station following their arrest. Photo: Weerasak Panyachod.

The four are Kritsada Boonyang, 24, of Chiang Mai’s Mae Taeng district, Panlop Trakulthongprai, 21, from Mae Hong Son province, Pradit Lue-ngam, 33, from Chanthaburi province and Sorrawit Khaengthankit, 32, from Uthai Thani province.

Police also seized four helmets, four motorcycles, mobile phones, 2,300 baht in cash, business cards and flyers offering loans.

The gang allegedly provided loans with an interest rate of 20 per cent a day, under the guise of letting customers pay off purchases of electrical items.

The four suspects were allegedly hired to collect the money from borrowers. Police hope to arrest the gang leaders soon.