Johor police chief Commissioner M. Kumar with yhe packets of red paint that were seized from the illegal money lending syndicate members at the Johor police contingent headquarters in Johor Baru today. April 8, 2024 - Picture by Ben TanJOHOR BARU, April 8 — The police said today they managed to bust a notorious loan shark syndicate, known for using violence, with the arrest of seven suspects during a series of raids here recently.
“Apart from that, the raiding team also confiscated a Perodua Myvi car, a Proton Saga car and various types of stationery from the suspects,” he said, adding that the syndicate members were active since January this year.Kumar said initial investigations found that the syndicate members received a payment of RM600 each for splashing paint and RM1,000 for committing arson on the property of those who failed to make their loan payments.
“The syndicate will force borrowers to make payments by charging high-interest rates between 20 per cent to 50 per cent of the loan amount given,” he said.