25 ARRESTED AS HONG KONG POLICE BUST LOAN SHARK RING CHARGING UP TO 282% INTEREST RATE

Hong Kong police have arrested 25 people, some as young as 13, in a crackdown on a loan shark syndicate that charged victims annual interest rates of up to 282 per cent. Police said on Thursday that the crime ring had provided a total of HK$200 million (US$25.5 million) in loans to about 2,000 residents over the past year, with at least HK$8 million in criminal proceeds funnelled into…

News - South China Morning Post reports that hong Kong police have arrested 25 people, some as young as 13, in a crackdown on a loan shark syndicate that charged victims annual interest rates of up to 282 per cent.

The report adds: Police said on Thursday that the crime ring had provided a total of HK$200 million (US$25.5 million) in loans to about 2,000 residents over the past year, with at least HK$8 million in criminal proceeds funnelled into…

During operations on Tuesday and Wednesday, officers raided three operating...

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