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Loan Shark Arrested After Charging Brutal Interest on ฿3,000 Loan
Summary by ASEAN NOW Formerly Thai Visa Forum
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Every day, Nguyen Dinh Luong ran to residential areas, distributing leaflets with phone numbers printed on them to lend money at high interest rates from 1-30 million VND, paying principal and interest daily, from 243% to 304%/year.
Loan Shark Arrested After Charging Brutal Interest on ฿3,000 Loan
Picture courtesy of Khaosod. A notorious loan shark in Buriram province has been arrested after charging exorbitant interest on a small ฿3,000 loan, which ballooned into over ฿59,000 in repayments over a seven-month period. The lender also allegedly subjected the borrower to ongoing threats and harassment at her home and workplace. On July 2, district chief Mr. Chokchai Sawangrat instructed local officials to investigate after a 44-year-…
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