Indian Arrested in Thailand For Overstaying Visa, Giving Loans Illegally
Police said that Rakesh Yadav was charging interest rates at 20 percent per day which is higher than the legal limit in the country.
An Indian man has been arrested in Phichit province of Thailand for exceeding the time limit given on his visa and providing loans to people at rates of interest higher than the legal limit set in the country, reported IANS.
According to a report in The Nation, Thai immigration police and officials from other agencies arrested 21-year old Rakesh Yadav on Oct.25 from a gas station in Tambon Tha Luang.
At the time of the arrest, Yadav was inside the gas station and had come there to allegedly collect interest from vendors who had borrowed from him.
The publication quoted the police as saying that Yadav was giving loans at 20 percent interest per day, which is higher than the legal limit in the country. Police also found that Yadav’s visa had expired in February this year and he was overstaying in the country.
Police arrested Yadav and seized 3,538 Baht from him. Police also found him carrying a book, which had a list of his debtors.
Thai baht is the official currency of Thailand and 1 Thai baht equals Rs. 2.22, as per the exchange rate on Oct.25,2018.
Thai immigration department, Trat Province says on its website that if people coming from other countries overstay for a long period, they will be barred from re-entering the country. The period of the ban may vary according to the period of overstay.
“If you overstay for a short period you will have to pay a fine. However, if you overstay for more than 90 days then it is a serious offense and the result will be you are deported from Thailand and banned from visiting again. The length of the ban depends on how long you have overstayed your visa,” the website said.
In August, Thai law enforcement officials had arrested an Indian man for allegedly raping a 14-year-old girl in July 2018 when they met for the first time after chatting online.