Friday October 2, 2009
Ah Long transactions in Penang rake in RM15m
By ANN TAN
GEORGE TOWN: Loan sharks in Penang have accumulated business worth RM15mil in the past three months alone, police believe.
The amount was derived after a series of police raids at strategic outlets where RM15mil worth of transactions were traced.
State police chief Deputy Comm Datuk Wira Ayub Yaakob said 26 suspects, including a woman in her 30s, who are either loan sharks or runners were called up to facilitate investigation.
“About 1,700 debtors are involved and most of them are either factory or low-salaried employees.
“These people probably could not obtain loans from the bank with their low salaries and decided to seek help from loan sharks. We have yet to paralyse their activities; so we will continue with the fight,” he told a press conference.
DCP Ayub said police also seized RM27,688 cash, five cheques amounting to RM10,500, six laptops, four merchant credit card machines, three fax machines, 15 account books of debtors, advertising stickers and other assets.
The loan sharks’ would hold their debtors’ ATM cards and account books with their pin numbers and withdraw the money when the debtors received their salaries.
The debtors could also pay the loan sharks with post-dated cheques.
“We also call debtors up to facilitate investigation and should they refuse to do so, they can be charged under Section 10C (8) of the same Act,” he said.
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