Two Indian loan sharks arrested

BANGKOK, Jan 29 (TNA) – Thai tourist police arrested two Indians for doing money lending business with extremely high interest rate. Two men, identified as Meddeshiya Santhos Kumar and Suddhakar Kumar Yadav were arrested at a grocery in Soi Sukhumvit 50 with 4,000 baht in cash and the list of more than 1,000 borrowers. The arrest came after the in-depth investigation on the network of Indian loan sharks that Santhos is an influential person, lending money illegally with extremely high interest rate. The duo confessed to the crime. Pol Maj Gen Surachet Hakpan, deputy chief of the Tourist Police Bureau said that they offered loan for traders in Sukhumvit, Bangna, Phrakhanong with interest rate of 2-3 per cent per day for about four years. Most of the borrowers are Thais. They are charged with for lending money, levying high interest rate with unlicensed moneylending. (TNA)