Saraburi: A major illegal loan shark and pawnshop network in Saraburi Province has been dismantled, resulting in the seizure of numerous cars and motorcycles. The operation served as a front for lending money at a 10% interest rate per month for over five years.
According to Thai News Agency, police from the Region 1 Investigation Division launched an operation targeting this illegal network. Two suspects were arrested, and four locations in Phra Phutthabat District were searched, including a residence, a gas station, a parking lot, and a large warehouse. Authorities seized 72 motorcycles, 23 cars, 12 firearms, and two mobile phones, with the total value of the confiscated assets exceeding 20 million baht. The police plan to return these assets to the victims.
The investigation uncovered that the two suspects had been involved in pawning cars, motorcycles, and firearms from numerous debtors. They operated multiple warehouses to avoid detection and offered loans at a monthly interest rate of 10%. This illicit business had been running for over five years. Additionally, one of the suspects had a previous arrest record for loan sharking.