Police have made a series of arrests of loan sharks based in Nakhon Ratchasima, netting members of several rackets, some of which demand extremely high interest rates, up to 60 per cent daily, from their clients.
The 38 suspects arrested are believed to belong to a number of loan rackets, most of which have used intimidation or harassment against clients who fail to make daily repayment, said Pol MajGeneral Dechawat Ramsomphob, acting commander of Provincial Police Region 3, and the local chief of operations in an ongoing campaign against loan sharks.
The daily interest rates these rackets have charged clients range from 20 per cent to 60 per cent, he said. Some suspects have admitted to the crimes while many others denied their wrongdoings.
The police are making arrests of loan sharks across the country as a result of the government's newlylaunched campaign to settle "offsystem" debts between lowincome earners and illegal money lenders.