Bangkok Immigration Police Arrest 78 Chinese Loan Sharks

Nation Thailand Bangkok immigration police have arrested 5 organizers and 73 employees at a building in Chom Thong district today, where alleged Chinese loan sharks were running an illegal finance firm. The company, “Thai Luck Trade” extended loans at interest rates far higher than the limit under Thai law.

The crooks charged their victims a 0.05% percent per day interest on all loans which had to be paid back within 7 days. Borrowers from Thai Luck paid an interest of 18% to 600% percent per year. If they were unable to pay, the company sent their “men” to their homes to collect any way they could.

The company’s accounts showed that it had 200 million baht in circulating funds and had more than 20,000 vulnerable customers during these tough economic times.

Source: Bangkok immigration police nab Chinese loan shark

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