Police swoop on 2 loan shark gangs in 4 provinces of Thailand

Officers from the Economic Crime Suppression Division (ECD) swooped on two loan shark gangs operating in four provinces in Thailand and arrested four crooks. Money worth over 1 billion baht was in circulation as the racketeers collected interest from debtors at an extortionate rate of 547.5% per year.

The ECD targeted two illegal money-lending gangs: Burin-credit and Memoney-Credit and raided offices in four provinces yesterday, including Bangkok, Phichit, Samut Prakarn, and Chantaburi.

During the raid, police arrested four male suspects: 29 year old Thotsapphon Chiangka, 29 year old Sakkarin Chinorot, 27 year old Yutthana Fuengfu, and 21 year old Kiattisak Thamkongthong.

Police also seized a large number of illegal documents, including 22 fraudulent loan agreements worth 7,990,000 baht, along with 13…