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Monday, May 23, 2016

Biggest loan shark syndicate which made RM8 million a month crippled

For years, an Ah Long (loan shark) syndicate had raked in an astonishing RM8 million a month from their victims.

The syndicate has been described by police as 'the biggest' in recent years.

Their activities however were crippled when police raided the criminals' headquarters in Puchong and arrested its members, including the syndicate's mastermind.

Commercial Crimes, Operations and Intelligence deputy director Senior Assistant Commissioner Roslan Abd Wahid said police had carried out the operations following a report lodged by a 48-year old victim last October.

"Following the report, police monitored the syndicate's activities. They are believed to have been in business for two years.

"We arrested these 13 individuals aged between 23 and 32 years, including the mastermind, during 'Op Vulture 1/16' carried out in Puchong and Serdang between 1pm and 12 midnight.

"Police also seized nine cars, cash totalling RM46,383, USD 9,1000 (RM36,400), five branded watches, a necklace, 42 hand phones, five tablets and three laptops," he told a press conference at the Commercial Crimes Investigation Department here today.

Roslan added that the syndicate has been making a lucrative business as they made a total of RM8 million, monthly.

The case is being investigated under section 5(2) of the Moneylenders Act 1951.


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