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The Anti-Money Laundering Office has frozen about 79 million baht worth of assets belonging to a Khon Kaen-based money lender who allegedly cheated her customers of their land plots used to guarantee the extended loans.
AMLO secretary-general Pol Col Sihanart Prayoonrat identified the alleged fraudster as Mrs Sarunya Yotsaowapark of Chumpae district. He alleged that Mrs Sarunya and her associates offered loans to any customers who are in need of cash who are required to put up their land title deeds as a surety.
But instead of making some customers to sign loan contracts, he said they were duped to sign contracts to sell their land plots or to sell their land with the right of redemption.
Normally, he said that the gang would not pay its customers the full amount of loan but would deduct the loan as advance interest payment, said the colonel, citing a case in which one client signed a loan contract for 250,000 baht but was actually given only 50,000 baht.
But when a customer defaulted in instalment payment, he would be exorbitantly charged for default to the point he could no longer pay and had to give away his land title deeds, said the colonel.