PHITSANULOK – Nearly two dozen alleged loan sharks were arrested in Muang district amid complaints they were lending at interest rates of 20% a month.
Economic Crime Suppression Division investigators had been tracking a usury network in the province and followed suspects to a multipurpose field in the Chinalarp housing estate in tambon Samorkhea. Officers pounced once the accused loan sharks headed out to collect debts.
In total, 23 men were apprehended, all reportedly confessing to loan sharking, but none admitting to be in charge.
Officers seized loan and guarantee agreements for more than 100 clients. They estimated monthly cash flow for the gang was about 6 million baht.
Pol Col Vachira Phayanoi, commander of ECSD sub-division 5, who led the operation, said the suspects would be charged with offering personal loan without a licence and charging interest higher than the maximum rate set by law.
Police will continue to pursue down the gang's leader.