Authorities have cracked down on five loan-shark gangs in Krabi province, seizing more than 100 motorcycles and 20 cars from their possession.
“We have acted in response to complaints that they have demanded an interest rate that is higher than what is allowed by laws,” Krabi’s police chief Pol Maj-General Boontawee Toraksa said on Monday.
According to him, one of the gang is based in Krabi’s Muang district, two others in Khlong Thom, and the rest in Nua Khlong districts.
“Altogether, we have already confiscated 118 motorcycles and 20 cars from this gang. We will investigate further,” he said.
Police had received tip-offs that the gangs were offering loans for mortgaged vehicles but at a very high rate.
Boontawee personally led a team raiding a house that reportedly held the office of a loan-shark gang in Khlong Thom district on Monday.
They found 57 motorcycles there.
