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- Extra Times
HK police arrests Macau casino loan-sharks
The HKSAR police arrested 14 men allegedly involved in a HKD 25 million loan-sharking racket linked to two Macau syndicates.
The gangs targeted Hong Kong gamblers in local casinos, offering loans – supposedly interest-free – to those who had run out of luck, according to superintendent Albert Hui Kwai Sang, and quoted by South China Morning Post.
More than 200 debtors and HKD 25 million were involved in the racket and resulted in gamblers incurring interest of up to 300 percent a day.
“After the borrowers were escorted back to Hong Kong, they were handed over to illegal debt collectors and held in a guest house, where they were forced to sign a debt note for a larger amount,” Hui said.
“In one extreme case, one gambler ... borrowed HKD 50,000 from the loan-shark syndicate,” Hui said. “After he was escorted back to Hong Kong, he was forced to sign a debt note for HKD 160,000.”
“Victims who had no money to pay were taken to financial companies to borrow money,” he said.
If someone refused to sign the debt notes, even after assault, his relatives and neighbours were targeted for intimidation.
“They jam door locks with glue and pour paint on the doors of neighbouring flats in order to make debtors pay,” Hui said.
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