Lampang: Pol. Lt. Gen. Jiraphop Phuridet, Commander of the Central Investigation Bureau, led a successful operation against an informal money lending gang operating in downtown Lampang, uncovering a cash flow of over 77 million baht.
According to Thai News Agency, the operation targeted two locations in the city. At the first location, authorities discovered Mr. Anusorn involved in unauthorized loan activities, charging a monthly interest rate of 20 percent. Clients borrowing 5,000 baht were required to repay the principal and interest within 24 days, which translated to a daily payment of 250 baht. Missed payments resulted in threats and physical harm toward the debtors. The raid uncovered business cards, bank books with significant turnover, and evidence of debtor assaults.
At the second location, Mr. Thanet was found conducting similar unauthorized lending activities. He charged a 20 percent interest rate over 24 days, requiring a 10,000 baht loan to be repaid at 500 baht per day, which amounted to 12,000 baht in total, equating to an annual interest rate of 304 percent.
Both individuals have been handed over to local investigators for further legal proceedings.
