Authorities bust 2 brutal mortgage sharks in central Thailand

Thai authorities busted two brutal mortgage sharks in Thailand’s central Pathum Thani province yesterday.
The Economic Crime Suppression Division (ECSD) arrested the loan sharks, a forty two yr outdated lady named Natthajaree Muangthong and a forty three year outdated man named Thanachai Ruangphueng. The people have been accused of “conducting unauthorised personal lending and charging interest rates exceeding those permitted by law.” They were arrested during a raid on a home in Khlong Luang district, in Khlong Nueng sub-district.
According to Bangkok Post, the suspects had been operating illegal money lending companies with interest rates as high as 304% per yr. An ECSD commander stated that Those who didn’t pay their loans or delayed payments were denounced and intimidated on-line.
In early March, a quantity of victims sought assistance from the Debt Offender Suppression Centre and the Royal Thai Police. The victims reported a bunch of individuals utilizing Facebook to promote money lending and investment alternatives, including gold deposit schemes and luxurious brand merchandise. Dark charged exorbitant interest rates and harassed delinquent debtors by posting defamatory content material on social media. This public shaming has triggered great misery to the victims who worry potential hurt to their lives.
Investigations revealed that the prime suspect, Natthajaree utilised her private Facebook account to promote mortgage provides and entice others to take part in the funding schemes for gold and high-end merchandise. The police subsequently gathered evidence and obtained a search warrant for the suspects’ residence.
Upon looking out the property, officers found Natthajaree and her husband, Tanachai, dwelling in the residence. Both suspects confessed to involvement in cash lending and promoting investment schemes for gold deposits and luxurious gadgets. They claimed ignorance concerning the interest rates exceeding those permitted by regulation. As a end result, each people had been handed over to ECSD officers for further authorized proceedings..

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