ECD police apprehended Narin Boon-me on the roadside in Bang Pa-in district of Phra Nakhon Si Ayutthaya on Saturday. He was wanted on an arrest warrant issued by the Minburi Criminal Court on charges of colluding in providing personal loan services without permission and charging interest rates higher than legal limits, reports the Bangkok Post.
Pol Maj Gen Tatpoom Jaruprach, the ECD chief, said in late 2024, several victims filed complaints through the centre for prevention of crimes related to informal debt, saying they had borrowed money from an app-based lending platform named “New Wallet”. The service required consent to access the borrowers’ personal information and charged processing and documentation fees.
The customers had to pay interest every day via online banking, or at an equivalent of 3400% per year. If the debtors failed to pay on time, they and people close to them would be contacted by phone, causing them great embarrassment and distress.
Investigators also requested arrest warrants for other people in connection with the New Wallet app.
A criminal background check revealed Mr Narin’s prior convictions for use, production, and distribution of illicit drugs, as well as six other offences. He had recently been released from prison.
During initial questioning, the suspect confessed to all charges, Pol Maj Gen Tatpoom said.