PATHUM THANI -- The Department of Special Investigation on Monday impounded 29 properties worth 42 million baht in Pathum Thani province owned by the hunted boss of a huge loan sharking operation, and is targeting other assets nationwide.
DSI officials went to the land office in Thanya Buri district, where they filed seizure notices on the properties of Wichai Panngam, 47, the alleged leader of the illegal loan network that operated throughout Thailand and in Cambodia.
The properties include houses, land and an apartment building in Khlong Jed area of tambon Lam Phak Kud, Khlong Sam area of tambon Bueng Yitho and in the Rattanakosin 200 Years housing estate in tambon Prachathipat.
DSI deputy director-general Suriya Singhakamol said in Thanya Buri district that 17 of the properties officially belonged to Mr Wichai and the rest had been registered under the names of the suspect's relatives.
The examination of properties linked to Mr Wichai was continuing nationwide. The seizures had started in Pathum Thani, where the loan shark network was based.
Raids on the gang's premises began in four provinces, one in all four regions of the country, in December when Mr Wichai was reportedly overseas on a vacation with his family. He has since failed to return.
Justice authorities believe Mr Wichai headed the biggest informal lending service in the country. The network, known as the Helmet Gang, was established in 2011, had 86 branches nationwide and charged up to 300% in annual interest.
Investigators suspected about 1,000 government officials were accomplices, abusing their authority to force debtors to make repayments.
In earlier raids in December, authorities impounded assets worth more than 150 million baht from the gang.
The network allegedly included about 2,000 black market creditors who had distributed some 4 billion baht to 170,000 borrowers across the country at exorbitant rates of interest.
DSI officials go to the land office to impound properties in Thanya Buri district, Pathum Thani, linked to loan shark suspect Wichai Panngam on Monday. Video by Apichit Jinakul