Multi-Million Baht Pattaya Illegal Money Lending Operation shut-down
In a joint news conference by the Chief of Banglamung District and the Royal Thai Navy on Tuesday night, it was announced that 5 people had been arrested accused of running a multi-million Baht illegal money lending operation in Pattaya.
Khun Sakchai, the Chief of Banglamung District confirmed the arrest of 5 people at two rented houses at the Green View Village in East Pattaya, at the culmination of an undercover operation involving a man who had borrowed 870,000 Baht and had paid back a staggering 2 Million Baht which included the original amount plus a considerable amount of interest.
Payments were still ongoing but the man had ran out of money and received a visit from two men who warned the borrower that harm would come to him if further payments were not made. At this point, he contacted Banglamung City Hall who used the man to located the headquarters of the operation so it could be shut down.
The 5 arrests were made in two neighboring houses and featured the seizure of a Honda Accord, 17 motorbikes, Jewelry and other items which are thought to have been given to the men as guarantee of payment for outstanding loans.
The head of the operation is thought to reside in Chantaburi Province and is expected to be arrested shortly.
original post found herhttp://www.pattayaone.net/pattaya-news/134391/multi-million-baht-pattaya-illegal-money-lending-operation-shut-down/
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