Salon front for loan sharks raided

national June 10, 2014 00:00

2,917 Viewed

Police raided a salon, suspected of being a loan shark's cover-up business, in Khon Khaen's Muang district on Monday night.

Following a tip-off on the division hotline 1135, Consumer Protection police raided the salon, which reportedly gave loans to people at an illegal rate of interest. Allegedly it also threatened and seized valuables of debtors behind in repayments.

Police arrested two suspects – identified as Pitiphum Thumthon, 27, and Thannatkorn Srisahanant, 51 – along with evidence including 537 loan contracts which had only the borrowers’ signature slot signed, a notebook with 108 names of debtors and underground lottery tickets worth Bt177,000.

The duo reportedly confessed to the initial charges of running a personal loan business without permission, charging people at an illegal interest rate – at 1 per cent per day or 30 per cent per month – and playing an underground lottery.


Most view