Arrested criminal with handcuffs behind his body concept for crime does not pay
IPOH: The police have arrested three individuals believed to be loan sharks after a businessman lodged a report.
Acting Perak police chief Deputy Comm Zulkafli Sariaat stated that the arrests were made by a team from the commercial crime and criminal investigation units on Nov 8 and 21.
DCP Zulkafli mentioned that the police received a report from the 43-year-old businessman on Oct 29.
The businessman had assisted a friend in borrowing about RM698,800 from 22 individuals believed to be loan sharks in Ipoh and Kuala Lumpur.
When his friend was unable to repay the debt, the loan sharks turned to the businessman to settle it.
"Due to pressure and fear of disturbance from the loan sharks, the businessman attempted to settle the debt in stages and has paid about RM202,000.
"Unable to withstand the pressure and harassment, the businessman lodged the police report," he added.
During the arrests, the police seized a mobile phone, a moneylending company stamp, a car, a moneylending licence, a set of moneylending documents, and two sets of moneylending account statements.
The case will be investigated under Section 5(2) of the Moneylenders Act for operating an unlicensed moneylending activity.
Those found guilty can be fined between RM250,000 and RM1mil or face up to five years in jail or both.
DCP Zulkafli noted that the police have recorded 69 cases involving loan sharks from Jan 1 to Nov 20 this year.
Of these, 66 arrests were made, with 19 individuals charged in court.
The public is advised not to borrow from unlicensed moneylenders.
"We found that some people borrow and then lodge police reports hoping to avoid repayment.
"This can put them, their families, and properties at risk when the loan sharks try to collect their money.
"Never fall for the loan sharks' sweet promises, as it can lead to serious consequences," he added.
