14 Jul 20 individuals including Datuk Seri were arrested on suspicion of being involved in loan shark activities
A total of 20 individuals, including a man with the title of Datuk Seri, were arrested on suspicion of being involved in money lending activities without a license by charging high loan interest in the state.
State Police Chief, Datuk Mohd. Shuhaily Mohd Zain said all the arrests consisted of two groups and an individual who was actively offering money loans without a license to the public.
According to him, the suspect, aged between 21 and 59, was arrested around the state on July 7 between 6 am and 5 pm.
“Preliminary investigation found that the 59 -year -old Datuk Seri was the main mastermind of the first group arrested and the biggest member of the secret society in the state, namely from Gang 24.
“Police arrested 15 members of this group who are active in high -interest lending activities as well as other crimes such as gambling, drugs, prostitution and extortion,” he said in a press conference at the Police Contingent Headquarters (IPK), here today.
According to him, people who borrow with the group led by Datuk Seri will be charged high interest between 30 to 50 percent per month.
If the borrowers failed to repay the debt, he said, the members of the group would threaten and injure them and even the group was believed to have firearms and sharp weapons for extortion purposes.
Mohd Shuhaily added that the group was able to earn a profit of up to RM500,000 every month by carrying out the unlicensed money lending activities.
“Among the borrowers who deal with this syndicate are shop owners, factory owners, private employees and small traders,” he said.
Meanwhile, he said, the police also arrested a second group known as the Wong Group consisting of four people and led by a 25 -year -old man while the last arrest was a 36 -year -old self -driving man.
Meanwhile, he added, the police also confiscated 11 luxury vehicles including Toyota Vellfire, BMW, Mercedes Benz and Honda from the syndicate.
Also seized were 36 mobile phones, 64 bank cards, 22 sets of business cards, cash amounting to RM24,520, nine watch straps and seven units of jewelery.
“This case is being investigated in accordance with Section 5 (2) of the Money Lenders Act 1951,” he said. – Utusan Malaysia