Police on Friday (May 22) arrested four Thai suspects who allegedly opened mule accounts for the illegal money lenders, said Pol Col Krit Worathat, a superintendent at the Economic Crime Suppression Division.
The suspects – three women and one man – were aged between 22 and 56, reports the Bangkok Post. One was arrested in Bangkok and three others were apprehended in Udon Thani on Friday.
According to Pol Col Krit, police have received complaints from many people who borrowed from the gang via many applications including “BMP Lending” and “vita shelf” and others with Thai names.
Borrowers had to allow the applications to access contact names and pictures in their phones. As well, they were required to repay their debts within seven days. Most complainants borrowed about B2,000 each, at a seven-day interest rate equivalent to 3,780% annually.
“For those who defaulted, debt collectors made phone calls to curse and threaten them,” Pol Col Krit said. “They also phoned other people who were in the contact lists of defaulting borrowers and posted the photos of such borrowers to expose them on social media.”
Police found the gang used 21 mule accounts that recorded transactions of more than B1 billion. They have sought warrants for the arrest of all suspects, he said.