Cops nab two am­a­teur loan sharks

New Straits Times - - News -

Equipped with iron chains, two loan sharks had planned to ha­rass their debtors into pay­ing up by se­cur­ing the main gates of their houses.

How­ever, po­lice put paid to their plans when a team led by In­spec­tor Azli Ishak hap­pened to flag down the loan sharks’ ve­hi­cle at 11.45am in front of a fast food restau­rant in Pekan.

The duo, aged 22 and 24, were ar­rested when the po­lice team found banners ad­ver­tis­ing loan ser­vices, iron chains, pad­locks and six mo­bile phones in the Honda City. Po­lice seized the items.

The duo then led po­lice to their house in Bukit Se­tongkol here, where po­lice re­cov­ered some 15,000 banners that were meant to be dis­played to pro­mote the il­le­gal mon­eylend­ing ac­tiv­i­ties.

State Com­mer­cial Crime In­ves­ti­ga­tion De­part­ment chief Su­per­in­ten­dent Mohd Wazir Mohd Yu­sof said in­ves­ti­ga­tions re­vealed that the duo only started their loan shark ac­tiv­i­ties in Jan­uary in Kuan­tan, Te­mer­loh, Jer­an­tut and Pekan.

“Debtors who fail to re­pay their loans will be ha­rassed, and the suspects will lock debtors’ house gates with a chain and pad­lock. This is to em­bar­rass the bor­row­ers and make them pay up.

“As the suspects just be­gan their loan shark ac­tiv­i­ties, checks re­vealed they have not been vi­o­lent with bor­row­ers.

“The duo charge a weekly in­ter­est of up to 30 per cent for each deal. Sev­eral debtors have lodged po­lice re­ports for fear of their safety,” he said, adding that the duo’s debtors bor­rowed be­tween RM500 and RM10,000.

Wazir said in­ves­ti­ga­tions re­vealed that the duo tar­geted small traders and those with fixed monthly in­comes.

He said po­lice were in­ves­ti­gat­ing whether the two men were part of a big­ger syn­di­cate and whether they hired peo­ple to man­age their il­le­gal ser­vices in the four dis­tricts.

He said the ar­rest was the third this year fol­low­ing two suc­cess­ful op­er­a­tions co­de­named Op Vul­ture to curb il­le­gal mon­eylend­ing ser­vices.


Pahang Com­mer­cial Crime In­ves­ti­ga­tion De­part­ment chief Su­per­in­ten­dent Mohd Wazir Mohd Yu­sof (cen­tre) with the banners ad­ver­tis­ing il­le­gal mon­eylend­ing ser­vices that were seized from two loan sharks at the Pahang po­lice contingent head­quar­ters in Kuan­tan yes­ter­day.

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