Phuket Police Bust Illegal Vehicle Pawn Ring Charging 5% Daily Interest

Police in Phuket have dismantled a major illegal vehicle pawn and loan sharking operation in Thalang District, arresting two suspects and seizing 19 vehicles worth more than 1.5 million baht.

According to Region 8 Police, the raid took place on April 28 under search warrants issued by the provincial court. Officers targeted two locations in Thepkrasattri.

The suspects, both 29 years old and identified as “Got” and “Bew,” were taken into custody. During the operation, authorities confiscated three cars and 16 motorcycles, along with loan agreements, repayment records, and financial documents. Investigators also found that more than 500,000 baht had been circulating within the network.

Police said the pair had been running an unlicensed pawn and lending business, using Facebook to promote their services. Their posts offered quick cash in exchange for vehicles, even without proper registration documents, promising high payouts with minimal requirements.

Borrowers were required to hand over their vehicles as collateral and were charged extremely high interest rates—up to 5% per day, or about 20% per month. Repayments were made via bank transfers.

The suspects have been charged with operating an unauthorized pawn business and issuing loans with interest rates exceeding legal limits. They were handed over to Thalang Police Station for further legal proceedings.