Kwai Tsing district police have smashed an HK$8 million loansharking syndicate and arrested six men and four women.
More than 60 debtors have fallen prey to the gang, which has been operating for at least a year.
The victims often had to pay interest rates of between 250 and 1,000 per cent, depending on how quickly they repaid their loans.
'In some cases, the debt may never have been cleared, as the loansharks used all kinds of bullying tactics to extort further payments,' said assistant district commander Daniel Leung Chin-wah.
One of the debtors, who borrowed HK$2,000, could not clear his debt even after paying more than HK$20,000 in five weeks.
The 10 suspects arrested in 'Operation Voicemaker' on Wednesday were between 23 and 59. Police also seized bankbooks, mobile phones, deposit receipts and computers in the action involving 49 officers.
'We believe most of the gang leaders have been snared, although one of them is still on the run,' said Mr Leung.