Hong Kong police arrest 40 in crackdown on loan shark syndicate
- Suspected proceeds from illegal debt collection exceeded HK$30 million, police say
Hong Kong police have arrested 40 people in a four-day crackdown on illegal debt collection gangs, with the proceeds associated with loan shark activities exceeding HK$30 million (US$3.8 million).
The 32 men and eight women, detained in a series of raids across the city between Monday and Thursday, were accused of criminal activities such as splashing red paint on buildings and making threatening phone calls, according to the force.
“[Officers] searched the premises of an organisation that used improper means of collecting debt and arrested its director, executives and staff for conspiracy to criminally intimidate,” Chief Inspector Lau Ho-tak of the Kowloon East regional crime unit said on Friday.
“We also found the personal information of a few thousand debtors at its office.”
Lau added police had also arrested “a number of core members” of the syndicate for offences such as conspiracy to lend money without a licence, conspiracy to lend money with excessive interest rates, money laundering and conspiracy to commit criminal damage.
“Our investigation shows that they participated in loan sharking, organised illegal debt collection activities such as splashing red paint, and processing criminal proceeds related to loan sharking amounting to over HK$30 million.”