Bangkok: A 37-year-old man has been apprehended for his involvement in an illegal loan application operation, as revealed by ongoing investigations indicating his extensive criminal history and recent release from prison. Police from the Technology Crime Suppression Division (TCSD) collaborated in arresting Mr. Narin, 37, on charges of "jointly operating a personal loan business under supervision without permission and charging interest rates exceeding the legal limit" in Bang Pa-in District, Phra Nakhon Si Ayutthaya Province.
According to Thai News Agency, in late 2024, multiple victims lodged complaints about the illegal loan app "New Wallet," which demanded daily interest payments at a staggering rate of over 3,474.80 percent per year. Failure to make payments resulted in harassing calls to the victims and their relatives, creating severe hardship. Investigators subsequently secured arrest warrants for Mr. Narin and several other group members, revealing their past involvement in drug-related offenses and six additional charges, along with their recent prison release.