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Police vow to go after loan sharks in Pathumthani after attack on man

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Police vow to go after loan sharks in Pathumthani after attack on man

By The Nation

 

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Pathumthani police have vowed to eradicate the loan shark system in the area after a borrower was hit on the head in Rangsit municipality and had to spend two months in ICU.

 

Weerapat, a 63-year-old merchant, told officers at Kukot Police Station that he suspected the attackers were men of “Mrs Millionaire”.

 

The man had borrowed Bt80,000 from her in 2016 and she had allegedly threatened him with physical assault if he did not repay the money on time. He was assaulted in March.

 

Police said they did not realise that the attack stemmed from a loan shark business until the victim was able to speak again. They said they are now determined to prosecute the wrongdoers and eradicate the illegal business.

 

Source: https://www.nationthailand.com/news/30390440

 

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-- © Copyright The Nation Thailand 2020-06-29
 
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2 hours ago, CLS said:

Wouldn’t be surprised if Mrs Millionaire was some BiB’s wife.

If that's the case then you'd expect to hear that, 'despite an exhaustive investigation the police were unable to discover the identity of Mrs Millionaire.'

 

 

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Loan sharks in Thailand? That must be new for the Thai police. Or maybe it's just new that the Thai police investigates it.

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What's the interest rate & how is it calculated?

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Posted (edited)
11 minutes ago, faraday said:

What's the interest rate & how is it calculated?

Surely for a loan shark the interest rate is inversely proportional to the borrowers ability to pay back the loan?

 

Edited by bluesofa
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What did he think would happen when he took the money and not pay back . I’m not saying she’s right to have him hit , I’m just saying what did he expect,  a gift ?

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3 hours ago, bluesofa said:

Surely for a loan shark the interest rate is inversely proportional to the borrowers ability to pay back the loan?

 

This was Dec 2019  :

 

While the government deserves recognition for the amount returned to borrowers, the amount returned also paints a picture of how big an issue loan sharks are in the Southeast Asian country. Just this year, in February, Thai police arrested 14 loan sharks in Bangkok for lending money at rates of up to 20 percent per day.

Loan sharks have long been an issue in Thailand. In October 2014, local news media agency, The Nation published an opinion piece in which it said a toxic mix of inequality and lax financial discipline were among the chief reasons why many citizens fall prey to illegal lenders. 

 

 

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30 minutes ago, digger70 said:

Just this year, in February, Thai police arrested 14 loan sharks in Bangkok for lending money at rates of up to 20 percent per day.

Wow, I thought those charging 20% per month were bad.

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I'm no math wizard but my rough estimate would be, if you borrowed 1000 baht for 1 week you'd owe 3000 baht. 

 

Why aren't the cops in on this scam?

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3 hours ago, Cereal said:

I'm no math wizard but my rough estimate would be, if you borrowed 1000 baht for 1 week you'd owe 3000 baht. 

 

Why aren't the cops in on this scam?

Why do you think they're not?????

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22 hours ago, Cereal said:

I'm no math wizard but my rough estimate would be, if you borrowed 1000 baht for 1 week you'd owe 3000 baht. 

 

Why aren't the cops in on this scam?

 

On 6/29/2020 at 12:15 PM, bluesofa said:

Wow, I thought those charging 20% per month were bad.

That's why the Not so Smart people are in So much Trouble ,And will be forever.

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