PATTAYA, Thailand – Police arrested two men linked to the notorious “Demon Loan Shark Gang” following intelligence that they had expanded their operations into the area. Yutthaphum, 35, and Kiatthaphum, 25, were apprehended at a single-story house in a Chonburi housing estate.
A search of the property uncovered thousands of illegal loan business cards, customer and bank account books, mobile phones, and helmets. Police also seized four motorcycles connected to the operation.
Yutthaphum admitted during questioning that he and his associates had been running the illegal loan business for 4-5 months, renting the house for 8,000 baht per month. He said their clients were mainly small business owners from markets in Bo Win, Laem Chabang, and Pattaya. The gang offered loans with various repayment options, including daily, weekly, and monthly instalments. Yutthaphum claimed there were no external financiers and that they had lent out less than 100,000 baht so far.
The investigation revealed that the gang charged exorbitant interest rates up to 20% per day, far exceeding legal limits. The suspects face charges of operating an unlicensed loan business and charging illegal interest rates. They were taken to Bo Win Police Station with the seized evidence, and further investigations are on-going to identify other members of the network.
