CHONBURI, THAILAND – Police arrested two men and seized an unregistered firearm, electronic devices and loan records after raiding an illicit lending office tied to a network known as “Shogun” that charged borrowers 20 percent per loan.
Major raid led by senior officers
A Region 2 Crime Suppression Division team, commanded by Major General Kiattisak Srathongoi, carried out the operation on October 24 after obtaining a search warrant (No. C.228/2568) from the Chonburi Provincial Court. Officers under Colonel Thienchai Lertmaneethawisap entered a house in Moo 1, Mueang Chonburi, which investigators said was being used as an illegal lending office.
Evidence and arrests
Police detained two men at the scene: 34-year-old Samphan Janphram, known as “Gaeo,” who identified himself as the homeowner, and 19-year-old Sattayu Rueangrat, nicknamed “Yiem.” Authorities seized loan ledgers, mobile phones, a computer used to manage the lending operation, and a non-registered firearm with ammunition.
Samphan admitted to buying the weapon for 64,000 baht from an acquaintance and failing to register it, according to investigators. Documents recovered at the property formed the basis of charges related to the lending operation.
How the Shogun scheme operated
Investigators said Samphan operated under the so-called “Shogun” network and issued loans only to known customers. Borrowers were charged 20 percent interest on each loan, with repayment demanded within about 24 days. Officers described the 20 percent rate as effectively equivalent to monthly lending fees commonly associated with loan sharking, which can translate into extremely high annualised costs for borrowers.
Sattayu was employed as a debt collector and was paid by Samphan to collect repayments from customers, police said. Authorities noted the model preyed on people who could not access credit from formal banks and other regulated lenders.
Charges and legal consequences
Following the raid and interviews, both suspects were handed over to Saensuk Police Station in Chonburi for prosecution. Samphan faces charges including illegal possession of a firearm, operating an unlicensed lending business and imposing usurious interest rates. Sattayu was charged with participating in the unlicensed lending operation and aiding the collection of excessive interest.
Both men are expected to face court proceedings as the investigation continues and police examine the seized phones and financial records for links to broader networks.
Wider problem of illegal lenders
Thai authorities said the case was part of a wider crackdown on loan sharks who target vulnerable communities with high-interest, short-term loans. Such practices are widespread in parts of the country, officials said, leaving poor borrowers exposed to cycles of debt and often aggressive collection tactics.
The raid has renewed debate over whether tougher enforcement alone will curb predatory lending or whether wider reforms — including improved access to affordable credit for low-income households — are needed to address the root causes that drive people to illegal lenders.