Loan sharks said to be behind RM1mil robbery

  • Nation
  • Monday, 05 May 2003

KUALA LUMPUR: Loan sharks are believed to be behind the robbery at a warehouse in Bandar Sungei Long where some RM1mil worth of imported books and magazines were carted away several days ago. 

They came in five lorries at 1.30pm and used metal cutters to cut the padlocks before ransacking the place. 

HoweverHulu Langat district police managed to track down some of the books being sold at a shophouse in Sg Pelek, Sepang and detained a man in his 40s. 

Initial investigations showed that a director of a company had borrowed more than RM300,000 from at least 28 loan sharks by using the company as collateral two months ago. 

Since then, the loan sharks had been harassing the other two directors and demanding about RM500,000 from them. 

When the payment did not come, the loan sharks sought payment by cleaning up the warehouse and selling the books and magazines.  

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