The arrests come amid a nationwide crackdown on unlawful debt practices.
Officers from Phuket Immigration, coordinating with the Immigration Bureau’s Crime Suppression Division 8 and Immigration Bureau 6, carried out the arrests last Thursday (Feb 27).
The operation was conducted under directives from national police chief Pol Gen Kittirat Phanphet and Immigration Bureau Commander Pol Lt Gen Phanumas Boonlert as part of efforts to target illegal lenders, aggressive debt collectors and unauthorised vehicle pawn schemes, explained a report of the arrests.
The arrested suspects, identified only as ‘Mr Narucha’, 26, and ‘Mr Kriangsak’, 24 (both names pseudonyms), were found to be operating outside legal financial regulations.
They reportedly offered loans to vendors and residents in Phuket while charging an interest rate of 2% per day ‒ equivalent to 50% over 24 days, said the report.
Investigators estimated that the duo’s illicit operation had a turnover of several hundred thousand baht per month.
Both men face charges of illegal money lending, including violating laws that regulate personal loan businesses and imposing interest rates above the legal limit, the report noted.
Following their arrests, they were taken to Phuket City Police Station for further legal proceedings.
The report did not explain why the arrests were carried out by Immigration officers, and not regular police.