Police have arrested two men connected to the infamous “Demon Loan Shark Gang” after receiving intelligence that the group had extended their operations into the region. The suspects, Yutthaphum, 35, and Kiatthaphum, 25, were taken into custody at a single-story house in a Chonburi housing estate.
During a search of the residence, authorities found thousands of illegal loan business cards, customer records, bank account books, mobile phones, and helmets. Additionally, four motorcycles linked to the operation were seized.
Yutthaphum confessed that he and his associates had been running the illegal loan business for the past 4-5 months, paying 8,000 baht per month to rent the house. He stated that their primary clients were small business owners from markets in Bo Win, Laem Chabang, and Pattaya. The gang offered various repayment terms, including daily, weekly, and monthly instalments. Yutthaphum denied having outside financiers and claimed they had lent out less than 100,000 baht in total.
Investigators found that the gang charged extremely high interest rates, as much as 20% per day, far exceeding legal limits. The suspects now face charges of operating an unlicensed loan business and imposing illegal interest rates. They were taken to Bo Win Police Station, along with the confiscated evidence, as investigations continue to identify other members of the network.
