17 men arrested for loan sharking ring

Cecilia U
[email protected]

The Judiciary Police (PJ) arrested 17 males from Mainland China working for a loan sharking group. The police launched a raid on two flats in a residential building in the ZAPE district on the Macau Peninsula yesterday.
According to the PJ spokesman, the men arrested range from 24 to 47 years old. They come from different parts of Mainland China including Fujian, Guangdong, Anhui and Heilongjiang provinces. One of those arrested also held a Macau blue card working permit.
The police say the arrested men revealed that they did not receive wages or salaries in Macau, but instead made money by granting loans and charging interest. They charged interest at a rate of 10 per cent of each winning game played by the borrower.
“The suspects have their source of customers around the ZAPE district, who are mainly gamblers from nearby casinos, and every issued loan stands at around MOP30,000 (US$3,755) to MOP50,000,” the PJ spokesman said.
Cards and receipts for loans were found inside both flats and the total amount of the issued loans is still being determined. The PJ are continuing to investigate the case.