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Phone money lending interest rate is 1,000%, 70 debtors are recruited by 3 gangsters and big ears are arrested

2021-11-25T05:18:24.572Z


The loan shark group used the telephone to place numbers to defraud money by borrowing money. Three men with gang backgrounds have used bank accounts to launder about 5.6 million yuan of black money in the past three years. They were recently arrested by the Crime Squad of the East Kowloon Region. Three people wash


The loan shark group used the telephone to place numbers to defraud money by borrowing money.

Three men with gang backgrounds have used bank accounts to launder about 5.6 million yuan of black money in the past three years. They were recently arrested by the Crime Squad of the East Kowloon Region.

In addition to money laundering, the three suspected of illegally borrowing money from 70 citizens.

The police alleged that one of the citizens borrowed 5,000 yuan from a loan shark, and only received a loan of 3500 yuan after deducting the 1,500 yuan handling fee.

Every 7 days, you need to repay 500 yuan in interest, and it takes 7,000 yuan to pay off the loan.

In the end, the borrower repaid a total of 14,400 yuan with principal and interest within 3 months, and the annual interest rate exceeded 1,000%.


Chief Inspector of the 3rd Team of the East Kowloon Regional Crime Squad, Mo Ziwei, said that the intelligence collected earlier learned that there were a large number of criminal benefits from the use of the user’s account. The three accounts were frequently frequent from December 2017 to February 2020. For suspicious withdrawal and deposit records, each account has an average of more than 200 deposit records and more than 20 withdrawal records per month. Each deposit ranges from a minimum of 100 yuan to a maximum of 20,000 yuan.

After repeated investigations, apart from learning that 3 accounts were used for money laundering, they were manipulated by illegal lending groups.

The three accounts respectively processed 2.8 million yuan, 2.5 million yuan and 860,000 yuan of criminal proceeds. A total of about 5.6 million Hong Kong dollars were laundered in black money. After investigation by the police, it was discovered that the group had borrowed from 70 citizens.

From November 22 to 24, 2021, the Regional Crime Squad of East Kowloon carried out an arrest operation, successfully locking and arresting 3 key members of the group, and recovering the bank cards used in the case on their bodies, on charges of money laundering and loan sharking And unlicensed money lending.

The three are local men, aged 26, 28 and 35. All of them have triad backgrounds. They reported real estate agents, car wash workers and unemployed. Two of them have criminal records.

Use MLM phone to lend money to avoid loan approval, no need to meet for solicitation

Senior Inspector Wu Jiajing, Head of Team 3A of the Crime Squad of East Kowloon Region, pointed out that loan sharks are targeting people with poor credit records because it is difficult for them to obtain loans from banks or legal lending companies.

The group uses MLM telephones to avoid loan approval and no need to meet for solicitation throughout the entire process. It also produces websites with trademarks and names that are very similar to those of legal financial companies.

The borrower only needs to pass the proof of address, ID card and bank number to the criminal group through social media, and the group will deduct the handling fee from the principal.

The borrower must repay the interest every 7 days until he is able to repay the principal, or a sum of more than the principal, before the loan can be repaid.

One of the lenders borrowed 5,000 yuan from the usury group, but only received a loan of 3500 yuan after deducting the 1,500 yuan handling fee.

You have to pay 500 yuan in interest every 7 days, and you have to pay 7000 yuan in one go before you can settle the loan.

In the end, the borrower repaid a total of 14,400 yuan with principal and interest within 3 months, and the annual interest rate exceeded 1,000%, which was far higher than the 60% permitted by law.

Police: Borrowing money on the phone is like stealing money

Mo Ziwei reminded the public not to patronize illegal lending syndicates under any circumstances, saying that "money can solve many problems, but borrowing money over the phone will definitely solve the financial problems, but will only add to the problem." He added the case. A victim borrowed 110,000 yuan and had to repay 250,000 in the end. He described that "borrowing money on the phone is like stealing money" and fueled the arrogance of the gang. "

01News

Source: hk1

All news articles on 2021-11-25

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