Thai immigration bust Chinese backed loan sharking operation in Nonthaburi - 70,000 victims

[webfact]

Picture: Daily News

 

Officers from the Immigration Bureau led by chief Lt-Gen Sompong Chingduang raided two places in Nonthaburi yesterday to crack a loan sharking operation, reported Daily News.

 

Chinese national Lian Pin Pin was arrested at a house in the Janthima housing estate in Bang Bua Thong on a warrant for running an illegal loan business. Bankbooks were taken into evidence.

 

In Rattanathibet Road Soi 30 a Thai woman called Natchuta was arrested on a similar warrant and 100 computers and phones were taken into evidence. 

 

There were 66 employees there running the business that was backed by a Chinese investor, say police.

 

Picture: Daily News

 

If you borrow money - and there were 70,000 on the books - you'd only get between 30% - 42% of the principal amount.

 

If it was not return after 7 days the first day of interest was 12% and each subsequent day 5%. 

 

Apps used in the scam were called Maew Kwak, Thung Ngern, TikTak, Ubaht, Taomongkhol and Cashdaddy.

 

-- © Copyright Thai Visa News 2021-06-19

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

[2long]

40 minutes ago, webfact said:

If you borrow money - and there were 70,000 on the books - you'd only get between 30% - 42% of the principal amount.

 

If it was not return after 7 days the first day of interest was 12% and each subsequent day 5%. 

Does any of that make any sense? ????

[Taboo2]

Lock em up and throw away the key

[PremiumLane]

1 hour ago, 2long said:

Does any of that make any sense? ????

If you borrow 1000 Baht you would only receive between 300 and 420 Baht - but you have to pay back 1000.

 

If you don't pay it back in time (the 1000), you will get interest on that 1000. 

 

That is how I read it...

[Isaan sailor]

Well done, Immigration.  Bad guys out.  Good guys stay.

Edited June 19, 2021 by Isaan sailor

[tomazbodner]

4 hours ago, 2long said:

Does any of that make any sense? ????

Yes, actually. That's how you can milk people forever, as you give them less than they need, which they can never pay back, then you have a license to take everything they own, as well as from any of their relatives. Watched documentary (from CNA I think) that was showing this exact model used in Singapore, until police took them down.

[ronaldo0]

Chinese love this place ! ????

So are all the borrowers debts cleared by default ? ????????????

[hotchilli]

9 hours ago, webfact said:

In Rattanathibet Road Soi 30 a Thai woman called Natchuta was arrested on a similar warrant and 100 computers and phones were taken into evidence. 

 

There were 66 employees there running the business that was backed by a Chinese investor, say police.

Now that was coining it in...

Edited June 19, 2021 by metisdead
Please do not modify someone else's post in your quoted reply, either with font or color changes or wording.

[Mavideol]

4 hours ago, Isaan sailor said:

Well done, Immigration.  Bad guys out.  Good guys stay.

bad "chinese" guys out through the door and next week back in through the window   555

[kynikoi]

Book em Dano

[Hayduke]

21 hours ago, webfact said:

Officers from the Immigration Bureau led by chief Lt-Gen Sompong Chingduang raided two places in Nonthaburi yesterday to crack a loan sharking operation

 

The ‘victims’ aren’t off the hook. The police will sell the loan shark’s books to another loan shark who will enforce payments and collect the debts.

 

 

 

[Ventenio]

22 hours ago, webfact said:

There were 66 employees there running the business that was backed by a Chinese investor,

 

Clear pattern.   Chinese crime in Thailand is way more elaborate than dumb falang.

 

Falang arrested for drinking beer, crashing car, falling into lake, attacks ladyboy, sleeps in Tesco

 

Chinese arrested after running a 1.97 zillion dollar enterprise.