Police arrested two suspects for allegedly stealing a car pledged as collateral for a 30,000-baht loan, then refusing to return it when the owner tried to pay back the money owed.

Police believe the suspects are part of a gang running a car-loan fraud scheme that has caused estimated losses of 100 million baht.

Pol Maj Gen Montree Thetkhan, commander of the Crime Suppression Division, said yesterday that police arrested Tharet Poolairiab, 29, and Supaporn Jit-on, 31, on Monday for alleged embezzlement and accepting stolen property. Police seized from them a Honda CR-V sports utility vehicle.

The commander said the car had been left with Ms Supaporn as collateral for a 30,000-baht loan.

The debtor had applied for the loan from the administrator of the Facebook page “money car”, and received 25,000 baht after the initial fee deduction from the loan capital by the creditor.

The debtor wanted to repay the loan two months later but Ms Supaporn failed to return the car, saying it was at a used car shop in Bangkok. The car owner then found out that the vehicle was for sale on another Facebook page.

The borrower filed a complaint with Ban Ped police station in Khon Kaen province. The case was subsequently transferred to the Crime Suppression Division in May.

CSD superintendent Pol Col Wiwat Jitsopakul said undercover officers arrested Mr Tharet in a sting operation, pretending they wanted to buy the car, on Lat Pla Khao Road in Bang Khen district of Bangkok on…

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