20 people, including a man holding the title of a Datuk Seri, were arrested after they were suspected to be involved in illegal money lending activities while charging high loan interest rates in Penang.
Based on a report by Utusan, the state Police Chief, Datuk Mohd. Shuhaily Mohd Zain shared that all the arrests consisted of two groups and an individual who actively offered money loans without a license to the public.
They were arrested in an operation on 7 July, between 6am to 5pm.
Datuk Seri is the group’s mastermind
“Preliminary investigations found that the 59-year-old Datuk Seri was the main mastermind of the first group that was arrested, and the biggest member of the secret society in the state, namely from Geng 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, adding that those who borrowed money from the group led by the Datuk Seri were charged high-interest rates of about 30 to 50% per month.
If anyone were to fail in repaying their debt, these ‘Ah Longs’ would apparently threaten and injure them. The group was also believed to have firearms and sharp weapons for extortion purposes.
Earned up to RM500,000 a month
Mohd. Shuhaily added that the group earned a profit of up to RM500,000 a month, by carrying out their unlicensed money lending activities.
“Among the borrowers who deal with this syndicate are shop owners, factory owners, private employees and small traders,” he shared.
Meanwhile, they also arrested a second group, known as the Wong gang, which consists of four people led by a 25-year-old man, and a 36-year-old individual who acts alone.
They also confiscated 11 luxury vehicles including Toyota Vellfires, BMWs, Mercedes Benzs and Hondas from the syndicate, and seized 36 mobile phones, 64 bank cards, 22 sets of business cards, cash amounting to RM24,520, nine watch straps and seven units of jewellery.
This case is now being investigated in accordance with Section 5 (2) of the Money Lenders Act 1951.
What do you think about this? Let us know in the comment section.
PDRM Proposes ‘Ability To Drive’ Assessment For Senior Citizens Before They Can Renew Their License
PDRM has suggested that the government needs to set a new requirement for senior citizens before they can renew their...
Sri Lanka’s Famous Shaman Who Allegedly Claims He Could Cure Covid-19 Dies Due To The Virus
A high-profile shaman from Sri Lanka who claimed he was able to stop the spread of the virus in his...
YB Khairy: Interval Between 1st & 2nd Doses Of AstraZeneca Vaccine Shortened To 6 Weeks
The Minister of Health, YB Khairy Jamaluddin informed that the period between the first and second doses of the AstraZeneca...
Lorry Driver High On Drugs Falls Asleep On The Wheel & Loses Control Of Vehicle On NKVE
A lorry driver lost control of his vehicle after falling asleep on the wheel and skidded on the NKVE heading...
M’sian Man In Somalia Sentenced To 15 Years In Jail For Assisting Terrorist Organisation
A 34-year-old Malaysian man named Ahmad Mustakim Abdul Hamid, was sentenced to 15 years in prison by a Somali military...
KJ: Herd Immunity No Longer Achievable With 80% Vaccination Due To Delta Variant
The Ministry of Health (KKM) will not longer use the conventional formula of achieving herd immunity with at least 80%...
56 Politicians Were Convicted Of Flouting SOPs Throughout The Lockdown Period
A couple of months ago, #KerajaanGagal was trending online for various reasons, one of which is the fact that many...
PDRM On The Hunt For Those Who Leaked Alleged Lewd Messages & Videos Of Celebrity Preacher
The police have opened up an investigation paper after detecting the spread of several video clips and lewd messages allegedly...
Film & TV18 hours ago
Phone Number Shown On ‘Squid Game’ Belongs To A Real Person Who Has Received Over 4000 Calls From Fans
Social Stories15 hours ago
Watch: Motorcyclist Crashes Into A Person Crossing Lanes At The Grand Saga Toll Plaza
Social Stories16 hours ago
Indian Court Orders Beauty Salon To Pay RM1.13 Million To A Customer For Ruining Her Haircut
Social Stories17 hours ago
SG Security Guard Fined RM14k For Pouring Hand Sanitiser Into Coworker’s Water Bottle