Loan Sharks ON the Hook
Thai authorities have begun an operation to help the poor break free from loan sharks and their exorbitant interest rates. Suspects were arrested in a number of regions including Muang and Pak Chong. Ten motorbikes and lists of the names of debtors were impounded in the raids, said Pol Maj Gen Dechawat Ramsompob, acting chief of Police Region 3
He said the operation would be in affect in eight provinces in the lower Northeast.
The suspects, he said, were hired by illegal lenders to collect debts
If convicted, they could be fined only 900 baht each even though they regularly use threats and intimidation against their victims.
According to a police source, there are at least 100 major loan sharks operating in the lower Northeast region. They often pay protection money to the police to prevent arrest.
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