19-Year-Old Arrested for Operating 'Quick Cash' Illegal Lending Network with Predatory 304% Annual Interest Rates

On May 22, 2025, officers from the Crime Suppression Division, along with Natural Resources and Environment Crime suppression units and Border Patrol Police Unit 33, arrested a 19-year-old male suspected of operating the 'Quick Cash' illegal lending network in a village area of Chomphoo subdistrict, Saraphee district, Chiang Mai. Police seized over 700 loan cards, debtor account books, a mobile phone, and a motorcycle allegedly used in the operation.

During preliminary interrogation, the suspect admitted to distributing loan advertisement leaflets and disbursing loans for the 'Quick Cash' network for approximately one year under the direction of a network supervisor named 'Flame.' The network charged interest rates of 20% per 24 days, equivalent to approximately 304% annually, far exceeding the legal limit of 15% per year. For example, borrowing 10,000 baht required daily repayments of 500 baht for 24 days, totaling 12,000 baht within less than one month.

The suspect faces charges including operating an unlicensed personal credit business, illegally lending money at interest rates exceeding legal limits, and distributing advertisements through unauthorized posting of flyers in public areas.

The 'Quick Cash' network has been arrested multiple times in Chiang Mai but continues operating, prompting suspicions of powerful backers or capital groups. Residents have called for expanded investigation into major investors and networks nationwide. Police have received complaints about loan network operators based in Chanthaburi and Rayong provinces. Officers are currently expanding the investigation to trace financial flows, network participants, and investors in Chanthaburi, Rayong, and networks across the North, Central, and Northeast regions for further legal action.