NONTHABURI – Immigration police officers, in cooperation with Nonthaburi provincial police, have successfully arrested a group of foreign nationals involved in an illegal loan business and clandestine transportation of foreign persons. The raid aims to enforce the law in controlling foreign nationals residing in the Kingdom.
Authorities announced on Thursday the arrest of Mr. A, a 39-year-old Indian national suspected of being connected to the loan sharking scheme. He was taken into custody for further interrogation at Bang Sri Muang Police Station. At the same time, legal proceedings will be initiated against him for overstaying his visa for more than 2,366 days.
The investigation revealed that Mr. A belonged to a group of Indian nationals who offered loans in Thailand. A Thai woman who ran a market stall borrowed 3,000 baht from Mr. A’s group without proper documentation.
However, they verbally agreed to repay the debt daily at 150 baht per day, which added up to 3,600 baht over 24 consecutive days. This equated to an interest rate of 20 percent over 24 days (25 percent per month or 300 percent per year), exceeding the legal limit.
The Indian nationals collected interest payments in advance from the Thai woman, either daily in cash or by transfer to the account of another Indian national, Mr. B, who is also 39 years old.
Pol. Maj. Phak Sriwanich, the chief of immigration police in Nonthaburi, stated that investigations revealed that the modus operandi of the Indian group was to approach marketplaces on motorcycles, hold conversations and offer loans. On December 21, 2023, the officers arrested Mr. B. when the foreign creditor arrived at the victim’s market stall to collect cash.
During the subsequent investigation at Mr. B’s home, bank accounts were found that were used for credit transfers and matched the Thai woman’s account, as well as ATM cards used to withdraw cash that came from credit proceeds.
The officers arrested Mr. B on charges of ‘lending money to others at a rate higher than the legal interest rate’ and ‘working without a work permit.’ This led to the extensive investigation that eventually led to Mr. A’s arrest in January 2024.”
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