KUANTAN – Police busted an illegal money-lending syndicate or “Ah Long with the arrest of two men, in an operation codenamed ‘Op Vulture’ on July 12.
Pahang Police CID chief Supt Mohd Wazir Mohd Yusof said the two suspects, aged 27 and 28, from Muar and Kuala Terengganu were arrested at a shop in Temerloh at 7.30 pm.
“Police seized 1,139 money lending advertisement posters which displayed four telephone numbers.
“Also confiscated were a Toyota Vios car, 19 borrowers information cards and two mobile phones with the SIM cards, where the total value of seizure is RM50,000 ,” he said in a press conference, here today.
Early investigation found the suspects used their money lending licence which only was allowed to be operated in Kuantan, but they were also operating in Jerantut, Raub, Bentong, Lipis and Temerloh.
The suspects charged the borrowers 18 per cent or above for the repayment of loans depending on their payment commitment.
“The syndicate openly approached customers by circulating cards displaying the company name and telephone numbers. They also hanged the posters at electric poles and trees around the city,” he said.
He said the suspects were remanded for three days since yesterday to facilitate the investigation. – BERNAMA