Loanshark syndicate recruited runners overseas

Photo illustration of a loan-shark runner.

Police investigations have revealed that a loan-shark syndicate that was busted on Thursday had recruited people from neighbouring countries such as Malaysia to carry out its harassment acts.

The syndicate had recruited its runners by placing advertisements in overseas media looking for "financial assistants", the police said.

The authorities arrested 11 men, aged between 29 and 36, in the island-wide operation. Among the items seized were about $50,000 cash, mobile phones, laptops, ATM cards and records of illegal loans.

The police also acted to freeze 31 bank accounts, believed to have been used by the syndicate members.

This article was first published in The New Paper.

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