Phuket-
A 63-year-old Belgian man was apprehended for illegal loan operations. The suspect, identified as Mr. Philippe Camille G. Olivier, was detained at his residence in Soi Mangosteen, Rawai, following the issuance of a search warrant by the Phuket Provincial Court on May 24th, 2024.
Mr. Olivier is charged with running an unauthorized pawnshop, conducting a personal loan business without a license, and imposing interest rates exceeding the legal limit. Authorities confiscated 13 motorcycles and 15 debtor identification cards from his possession. He is currently held at the Chalong Police Station.
During interrogation, Mr. Olivier conceded that the impounded motorcycles were collateral from borrowers who received loans ranging from 5,000 to 10,000 Baht per vehicle, with interest rates between 10 to 20 percent monthly—significantly above the legal cap of 1.25 percent per month as per Thai law. The transactions were informally arranged through Facebook Messenger, without any formal contracts.
This arrest follows a recent crackdown on predatory lending practices, which gained momentum after an alleged assault by a loan shark on a local eatery owner in Sri Sunthorn. The police have not indicated any connection between Mr. Olivier and the aforementioned assault.
