Loan Shark

Chinese tourist jumps from casino ship after tough night of gambling

His escape plan was short-lived as he was quickly pulled out of the water by a boat passing by.

Thursday, 14 March, 2013, 2:05pm

Lessons in underground banking's toxic liquidity

It's a case of easy come, easy go - and not in a good way. Thousands of private business owners in Zhejiang province have been given an abject lesson by the suicides of several debt-ridden tycoons in hock to the underground banking sector and loan sharks.

Many are teetering on the brink of bankruptcy or have simply fled.

15 Oct 2011 - 12:00am

Better to seek advice early if you run into financial trouble, experts say

There is a deep stigma associated with money problems. They drive many people to hide their situations. People need to know at what point they really are in trouble so they can get help.

'Don't wait until the loan sharks are knocking on your door,' advises Pinky Yung, a social worker handling debt and financial services at Caritas Family Crisis Support Centre.

1 Aug 2011 - 12:00am

Loan shark gangs target neighbours of victims

Illegal debt collectors are terrorising the neighbours of borrowers to increase pressure on the debtors to pay.

Police revealed the tactic yesterday after arresting 14 people in connection with a HK$25 million loan-sharking and debt-collection racket in which gamblers were charged interest of up to 300 per cent a day.

11 Jun 2011 - 12:00am

Four suspected loan sharks held

Police have arrested four men, aged between 20 and 42, who allegedly ran a loan-sharking syndicate that targeted gamblers with offers of free ferry tickets to Macau and discounted accommodation. One person, who borrowed HK$200,000 from the syndicate, was required to pay back HK$400,000, officers said.

12 Sep 2009 - 12:00am

In Brief

Holdup at boutique latest in spate of armed robberies

20 Dec 2007 - 12:00am

Police smash HK$8m loansharking gang

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.

13 Apr 2007 - 12:00am

Frantic debtors driven to suicide by tactics of illegal money lenders

Former Malaysian goldsmith S. Shanmuga lost his house, two cars and went into debt to stave off the threats of illegal money lenders. But he is one of the lucky ones.

6 Dec 2006 - 12:00am

Officer held

A detective constable, 36, has been arrested by ICAC officers for allegedly taking a $2,000 bribe in exchange for helping a man negotiate better repayment terms with a Macau-based loansharking syndicate.

30 Dec 1999 - 12:00am

Loan complaints probed

Legitimate financing agencies are being probed after police discovered hundreds of maids have had their passports held as security for loans.

But several maids have complained that they have been driven to loansharks by a decision that bars them from using their passports as security with legitimate lenders.

10 Nov 1999 - 12:00am

Loanshark swoop

Four people were arrested when police broke up a loansharking syndicate that had been in operation for 10 years after raids in Mongkok and Yuen Long. More than 200 debtors with loans of more than $3 million were involved.

6 Jul 1996 - 12:00am

Calling card

A BUSINESSMAN found red paint and a dead chicken hung on the door of his Ma On Shan flat. The 35-year-old told detectives he suspected it was loansharks trying to recover cash loaned to a firm which he left months before his former partners closed it down.

28 Dec 1995 - 12:00am

Death plunge

A 51-YEAR-OLD man, surnamed Sin, on police bail since Wednesday over a loansharking case, plunged five floors to his death in Smithfield Road, Western.

1 Dec 1995 - 12:00am

Naked greed puts loan victims in the frame

LOANSHARKS, known for their cruel and violent methods of making money, have focused on a more subtle way of stripping the assets of their victims.

In a classic case of naked greed, the gangsters are forsaking their traditional weapons of bamboo poles, choppers and pistols for Polaroid cameras . . . and photographing their 'clients' naked.

9 Oct 1994 - 12:00am

Licensed to bill

HUMAN nature and the wheel of fortune being what they are, there will always be some people who get themselves into serious debt and find themselves unable to repay their creditors. Many countries have legal ways for the creditors to get at least partof their money back. Those methods are not always kind.

21 Apr 1993 - 12:00am

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