Bangkok, Dec 28 (IANS): A 29-year-old Indian national has been arrested in southern Thailand for operating an unlicensed money lending business.

Yadav Durgesh was arrested on Wednesday as part of a crackdown on illegal loan activities by police authorities, The Thaiger news website reported.

He was at a rental property at Ban Na San in Surat Thani city, where he was found to be charging an interest rate exceeding the legal limit on his loans.

According to the news report, Yadav’s illicit operation was first flagged following an investigation into unusual activities at his residence.

He had rented his premises to accommodate foreign nationals who were suspected of extending loans to locals and residents, which led the police to monitor his activities.

Yadav was found to be making daily rounds on a motorcycle, collecting interest from clients by the investigating officials.

On the day of his arrest, he attempted to evade capture by fleeing towards the Huay Mud community, but the police were able to apprehend him at his rented property, where he had retreated in an attempt to elude the officers.

During interrogation, Yadav confessed to the illegal money lending operation, admitting to charging an exorbitant 20 per cent daily interest rate.

Following his confession, Yadav was handed over to the investigation officer at the Ban Na San police station.

He was charged with working as a foreigner (conducting a lending business) without permission, and lending money to others at an interest rate higher than legally permissible. The case is awaiting further legal proceedings.

In November, another Indian national identified only as Harinda, was arrested for operating an illegal loan scheme in Ang Thong.

The loan shark targeted market traders, disguising the operation as a roaming sales business.