Officers from Provincial Police Region 8 led by Pol. Col. Thepanom Suwannarat raided the residence of Mr Philippe Olivier, 63, in Village 7, Rawai, at around 4pm on Friday (May 24).
Having inspected the property police officers discovered a total of 13 motorbikes that they declared Mr Olivier had taken in from various people in exchange for loans.
Additionally, officers discovered a total of 15 identification cards that they allege were associated to the illegal loans Mr Olivier had issued in relation to the bikes. The details of the loan included an interest rate that was set higher than the legal national rate, they added, without confirming the total value of the loans.
The items were seized and taken to Chalong Police Station, as was Mr Olivier to face legal charges.
Officers confirmed that the alledged charge reads as: “Setting up a pawn shop without permission, operating a supervised personal loan business in normal trade without permission from Minister of Finance and lending money to other people at an interest rate higher than the legal rate.”