Melaka police: Borrowers now free of debts totalling RM300k with arrest of loan shark

MELAKA: Those who borrowed money from a suspected loan shark here do not need to repay debts totalling about RM300,000 now that he has been arrested.

Melaka Commercial Crime chief Supt E. Sundra Rajan (pic) said the 40-year-old suspect told investigators he was remorseful for his involvement in illegal activities following his arrest on Dec 13.

He also said borrowers, mostly blue-collar employees and housewives, do not need to repay the loans taken from the suspect.

"The suspect regrets intimidating borrowers and has been fully cooperating with my team in an ongoing probe to track networks of unlicensed moneylenders in the state.

"He has lost his mojo to continue as a moneylender since his arrest," he said here on Sunday (Dec 20).

Melaka police discovered 626 documents relating to illegal loans after raiding the suspect's house in Taman Cheng Perdana here at 9am on Dec 13.

Supt Sundra said the loans totalled about RM300,000, mostly from borrowers in the Melaka Tengah district.

Supt Sundra said the suspect used many forms of scare tactics to collect debts but did not resort to splashing paint on borrowers' properties.

On Sept 17, Melaka deputy police chief Senior Asst Comm Datuk Sharul Lalli Masduki said police confiscated RM15,000 in cash, five mobile phones, 52 bank books and a car from the suspect during the raid.

He said the suspect is believed to have been active since 2016.

The suspect is being investigated under Section 5(2) Moneylenders Act 1951 and could face up to a RM1mil fine or five years' jail, or both, upon conviction.

The suspect is currently under remand which ends Sunday (Dec 20) and he is expected to be charged soon.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Next In Nation

Ismail Sabri: Failure to record personal details tops SOP violations
Pandalela stands up for Ain Husniza, warns teen to be alert against 'saboteurs'
MCO for Kluang, EMCO for Semporna's Kampung Keramat from May 11 to 24, says Ismail Sabri
Covid-19 Watch: Record high of 26 deaths, 13 new clusters reported
Burnt body found by roadside identified as 50-year-old woman
Ain's expulsion warning sparks concern from parents' group
Just show medical appointment card, no need to get police permit, says Ismail Sabri
Covid-19: Sarawak records 454 new cases and one new cluster
Awie's manager admits to SOP breach, says fine paid
Pavit Coran to represent Malaysia at virtual ESU international public speaking competition

Stories You'll Enjoy