Cyber police arrested six men in Phitsanulok yesterday, October 21, in an operation targeting an alleged illegal lending network involving around 1,000 borrowers and more than 10 million baht in monthly transactions.
Officers from Cyber Crime Investigation Bureau 4 searched three sites in the province under warrants issued by the Phitsanulok Provincial Court.
Police named 44 year old Yodying as the owner of the lending operation and 40 year old Thanakorn as its system administrator. The four remaining suspects, aged 24 to 45, were described as heads of its debt collection lines.
Investigators said the network recruited borrowers through social media and involved more than 100 people, with responsibilities divided among members.
The borrowers included business owners, market vendors, students, and civil servants, while more than 10 million baht a month moved through the system.
Officers seized at least one 9mm pistol and 29 rounds of ammunition, 10 mobile phones, two computers and 52,320 baht in cash, along with loan advertising cards printed with QR codes.
The lending moved through several bank accounts. Collection teams were organised by region.
The arrests followed a nationwide crackdown on illegal lending ordered by Royal Thai Police Commissioner Pol Gen Samran Nuanma after a mother and two children died in Pathum Thani in a case reportedly linked to a fraudulent loan app.
The six suspects face charges of operating an unlicensed lending business and charging excessive interest. Police are continuing the investigation and examining assets for possible seizure.
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