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Two people were detained in connection with a home assault in Pathum Thani’s’s Khlong Luang area for operating illicit money lending operations with interest rates as high as 304 % annually.
Thanachai Ruangphueng, 43, and Natthajaree Muangthong, 42, were both detained on Friday in tambon Khlong Nueng by police from the Economic Crime Suppression Division( ECD ), according to ECD commander Pol Maj Gen Phutthidet Boonkraphee.
They were accused of conspiring to operate a particular loan company without authorization and of operating illegal funding lending services with interest rates that were higher than permitted.
Police claim to have placed advertisements on a Facebook page encouraging people to buy brand-name materials and metal ornaments in installments. Interest rates on debt were set at 304 % annually.
According to the ECD captain, people who didn’t pay their payments or put off purchases were intimidated online.
The trio admitted the costs after discovering that they had more than 10 million baht in flow after the attack produced 188 mortgage saving contracts.