Suspect wanted in home country in connection with losses equivalent to B355 millionTae Won Bae, 65, is arrested in front of a Korean language school in Khlong Luang district of Pathum Thani on allegations of heading an illegal loan operation in his home country. (Photo supplied/Wassayos Ngamkham)PATHUM THANI - Police have arrested the alleged leader of a South Korean illegal lending network accused of defrauding more than 9,000 victims out of over 355 million baht, after he fled to Thailand to evade prosecution. The suspect was wanted on a warrant issued by South Korean authorities for violating laws governing credit business registration and financial consumer protection. The network targeted migrant workers travelling abroad for employment, charging exorbitant interest rates of up to 154% per year, in violation of South Korean law. During questioning, Bae admitted that he was the person named in the South Korean arrest warrant.

Source: Bangkok Post April 03, 2026 13:31 UTC