Foreign couple arrested for moonlighting as loan sharks
BATU PAHAT: During the day, they work as cleaners at a local shopping centre, but after hours, they become loan sharks catering to foreign workers and collect hefty interest payments.
The racket, run by a Vietnamese couple in their 30s, allegedly offer loans with interest rates of up to 20% to more than 50 foreign workers in the town area.
Their activities were uncovered when the police, acting on a tip-off, arrested the couple several days ago.
A police spokesperson said various items including dozens of ATM cards, passports, cash and mobile phones were seized.
Most of their victims are foreign workers from Vietnam, Myanmar and Sri Lanka.
The spokesperson said the suspects, who had been working as cleaners for more than two years, retained their victims’ ATM cards and passports as collateral before providing them a loan.
“Once the loan is settled, with the high interest rate paid off, the documents are returned,” the spokesperson said, adding that the suspects also offered long-term loans of up to 18 months.
The couple had also employed a “runner” to make bank withdrawals.
The spokesperson said the amount lent, varied from RM1,000 to RM5,000 for each victim.
The spokesperson added that investigations were being carried out under Section 5(2) of the Moneylenders Act 1951, which provides a maximum fine of RM1mil or a jail term of up to five years or both upon conviction.
The couple have since been charged on court.
Meanwhile, in another unrelated case, a woman with a law degree who wanted to take up a part-time job was scammed of nearly RM200,000 in savings in a bogus job scheme last week.
It is learnt that the victim, in her 30s, came across an advertisement on social media offering a digital marketing position.
The spokesperson said the woman, believing it to be a genuine job listing, signed up and was promised a big commission.
“The victim was asked to help boost a hotel’s online rating.
“To earn her commission, she had to make online room bookings.
“The first few transactions were successful and she received her payments.
“Once the victim was enticed by the initial commissions, the syndicate convinced her to invest more money to earn higher returns, resulting in about 40 transactions totalling almost RM200,000 to various mule accounts,” he said.
The woman realised she had been duped and lodged a police report when the syndicate continued pressuring her to make more “bookings” for bigger commissions.
Police are investigating the case under Section 420 of the Penal Code for cheating.
