SONGKHLA, 20 May 2013 (NNT) – Hat Yai police have arrested 16 members of the “V8 Gang”, which allegedly lends people money with extremely high interest rates. Victims and witnesses are being sought in a bid to acquire more information on the gang.
Authorities from the Songkhla Provincial Police and the Hat Yai Police Station held a press conference to announce that they have arrested 16 men who work for a loan shark gang, known as the V8 Gang. The arrest was made at a house in Tambon Khlong Hae of Hat Yai, where the officers found 5 motorcycles, loan accounts, customer lists, and business cards. One of the suspects is only 17 years old.
The V8 Gang has reportedly given loans to people in seven districts of Songkhla, namely Mueang, Na Mom, Na Thawi, Hat Yai, Khlong Hoi Khong, Sadao and Rattaphum districts. The interest rate charged by the group is said to be as high as 20 percent per month while borrowers who are unable to repay the amount by the deadline have been faced with life-threatening consequences.
Read more: NNT