News Forum - 40 million baht illegal online lending operation busted

[Thaiger]

An illegal lending business that raked in over 40 million baht in just 3 months by gouging people in desperate financial need with high-interest rates has been broken up. A Chinese man was arrested in Bangkok for running the loan shark operation online. The man identified by the Metropolitan Police Bureau as Jia Liew was arrested in Huai Khwang in a condo unit according to ta press briefing held yesterday. The MPB commissioner said the Chinese man confessed to running a few online lending apps including one called Cash and Go that charged excessive interest rates to needy customers. Borrowers […]

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[HolyCowCm]

Triad pawn? 

[AussieBob]

Has anyone mentioned that it seems like so many of these scams of the uneducated and naive Thais are operated by Chinese people?  Has anyone else said that it seems to be happening right across the whole country - from low (like this) right up to the high levels?  Or is that inappropriate? 

[palooka]

13 minutes ago, AussieBob said:

Has anyone mentioned that it seems like so many of these scams of the uneducated and naive Thais are operated by Chinese people?  Has anyone else said that it seems to be happening right across the whole country - from low (like this) right up to the high levels?  Or is that inappropriate? 

Cambodia as well with kidnapping and scams for people to work there run by Chinese gangs.

[HiuMak]

11 hours ago, Thaiger said:

An illegal lending business that raked in over 40 million baht in just 3 months by gouging people in desperate financial need with high-interest rates has been broken up. A Chinese man was arrested in Bangkok for running the loan shark operation online. The man identified by the Metropolitan Police Bureau as Jia Liew was arrested in Huai Khwang in a condo unit according to ta press briefing held yesterday. The MPB commissioner said the Chinese man confessed to running a few online lending apps including one called Cash and Go that charged excessive interest rates to needy customers. Borrowers […]

The story 40 million baht illegal online lending operation busted as seen on Thaiger News.

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i'd say hang these mother chinese f^@%*rs. Go get a proper job

[KaptainRob]

46 minutes ago, AussieBob said:

Has anyone mentioned that it seems like so many of these scams of the uneducated and naive Thais are operated by Chinese people?  Has anyone else said that it seems to be happening right across the whole country - from low (like this) right up to the high levels?  Or is that inappropriate? 

We're very critical of other nationalities today Bob   Perhaps you hadn't noticed how many Aussies are on Interpol's Most Wanted list?   I think there's a similar % of every country ripping off others one way or another, ScoMo for example.

I know of a northern European family here who run a massive online money-spinner (can't say more), and hide the proceeds in property and other assets ... too much to spend legitimately back home!

[AussieBob]

16 minutes ago, KaptainRob said:

We're very critical of other nationalities today Bob   Perhaps you hadn't noticed how many Aussies are on Interpol's Most Wanted list?   I think there's a similar % of every country ripping off others one way or another, ScoMo for example.

I know of a northern European family here who run a massive online money-spinner (can't say more), and hide the proceeds in property and other assets ... too much to spend legitimately back home!

I am always critical of the Chinese Rob - especially how they have 'taken over' in Thailand.  Not talking about individual criminals - I am talking about a nationality that dominates in another country for their own mutual benefit - the Chinese in Thailand. 

Many years ago there was a 'coup' in Fiji - the military took over on the basis that their country had been 'taken over' by people of Indian descent and nationality.  And they had been - Indians dominated all levels of Fijian society - especially the wealthy and businesses and Government positions.  We visited a few times and it was obvious - the Fijians were too laid back and easy going - the Indians were industrious and busy.  The net result of that coup many years later has been a reduction in the influence and power of Indian culture/business through the mandating that a certain percentage of positions of authority, must be indigenous Fijians - like what New Zealand did with the Maoris.  Thailand needs to do the same IMO.

 

[KaptainRob]

3 minutes ago, AussieBob said:

I am always critical of the Chinese Rob - especially how they have 'taken over' in Thailand.  Not talking about individual criminals - I am talking about a nationality that dominates in another country for their own mutual benefit - the Chinese in Thailand. 

It's difficult to separate outright criminal behaviour from state-sponsored 'crimes' although both are prevalent in Thailand.  Whilst the country welcomes Cn tourism many Thai's are well aware that Chinese pocket the proceeds of any investment projects and locals ultimately lose out.

Thailand is a hub in Asia and China wants to get it's claws in.

[Prosaap]

This is a small one the chineese government do the same to thailand now thailand is just a puppet from the chineese as soon they make it more easy to buy land the covid people buy all 

[Shark]

3 hours ago, AussieBob said:

Has anyone mentioned that it seems like so many of these scams of the uneducated and naive Thais are operated by Chinese people?  Has anyone else said that it seems to be happening right across the whole country - from low (like this) right up to the high levels?  Or is that inappropriate? 

for a population that still thinks they can get free money by putting 1000B in the ground... well I'm not surprised.

[Fluke]

3 hours ago, AussieBob said:

Has anyone mentioned that it seems like so many of these scams of the uneducated and naive Thais are operated by Chinese people?  Has anyone else said that it seems to be happening right across the whole country - from low (like this) right up to the high levels?  Or is that inappropriate? 

This is not a scam though .

A scam involves deception and cheating . 

The people who burrowed the money were told the interest rates beforehand and they agreed to them, so, no scam involved .

   The burrowers are poor and desperate , rather than being uneducated and naive  

[Fluke]

20 minutes ago, Shark said:

for a population that still thinks they can get free money by putting 1000B in the ground... well I'm not surprised.

No, the Thai population doesnt think that you can get free money by putting 1000 Baht in the ground , although some of the population do think you can get free money by getting a felang boyfriend 

[AussieBob]

36 minutes ago, Fluke said:

This is not a scam though .

A scam involves deception and cheating . 

The people who burrowed the money were told the interest rates beforehand and they agreed to them, so, no scam involved .

   The burrowers are poor and desperate , rather than being uneducated and naive  

I hear you fluke - a bit of both involved.  He was running an illegal operation with illegal terms and conditions  and was using illegal tactics to get his money.  Then he sent the profit money back to his 'Chinese Financiers' in China. 

[AlexPTY]

Kbank doing this for ages. Aaahhh... Sorry, they said "illegal"