PUBLISHED ONApril 27, 2026 4:38 AMBYKhoo Yi-HangDespite paying over $11,350 to loan sharks over debts he never incurred, this Malaysian working in Singapore allegedly had his house set ablaze, Shin Min Daily News reported on Sunday (April 26).
Speaking with the Chinese publication, Chen Jiaqiang (transliteration) who works as a carpenter in Singapore recalled how he was contacted by a loan shark through his phone in 2025.
The loan shark had purportedly purchased information about Chen which included his phone number, pestering Chen to take a loan from them.
Although he refused to borrow money, Chen said he received a phone call from the loan shark a week later, notifying him that $500 had been transferred to his account.
Chen would need to pay $100 in interest every week due to this loan, the loan shark allegedly said.
"I said I would return the money immediately," Chen told Shin Min. "But he refused and stressed that I could only pay the interest and cannot return the principal sum.
"In order to avoid trouble, I had no choice but to follow suit."
He paid $300 in interest to the loan shark and mutually agreed to end things with him after a $2,700 payment through PayNow, Chen said.
That was not the end of it, however, and the loan shark sent over another $400 to Chen, demanding a payment of $2,900, China Press reported.
Again, Chen was told to pay the interest purportedly owed to the loan shark.
"My personal information was leaked and my child lives with me," Chen said. "I considered the safety of my family and had no choice but to comply."
Smelling blood in the water, the loan sharks allegedly upped the ante with a forced transfer of $500 to Chen in March this year, asking for $5,000 in return.
At the end of March, Chen transferred $450 in interest to the loan sharks and stopped making payment entirely.
Abruptly, Chen's home in Kangkar Pulai was attacked by loan sharks, with red paint splashed on his door.
Security camera footage show a masked man dressed in black alighting from a car, splashing paint on his home and leaving a note before fleeing the scene.
Then on April 21, a motorcyclist was caught on CCTV arriving at his house, setting a plastic bag containing fuel alight and throwing it into his home.
Pressured into making payment, Chen subsequently transferred the $5,000 to the account that the loan shark had specified earlier.
After doing so, however, the loan shark claimed Chen had transferred the amount to the wrong account, ordering him to transfer another $5,000 to a different account, Sinchew reported.
"I really don't have that kind of money," Chen told Shin Min. "He set fire to my house last Tuesday (April 21)."
Chen has since made a police report in both Singapore and Malaysia.
AsiaOne has contacted the Singapore Police Force for more information.
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khooyihang@asiaone.com
