GEORGE TOWN – A Datuk Seri is among 20 individuals nabbed by Penang police for offering loans illegally and with extremely high interest rates.
State police chief Datuk Mohd Shuhaily Mohd Zain said the suspects, aged between 21 and 59, were arrested on July 7.
The arrests involved two groups and a man operating individually, he told a press conference at the state police headquarters today.
“The first group involves 15 individuals headed by a 59-year-old man with the Datuk Seri title.
“The second group comprises four individuals headed by a 25-year-old man. The last arrest is that of a 36-year-old man operating on his own.”
He said preliminary investigations found that the Datuk Seri is a member of Geng 24, the largest secret society in the state.
“The gang’s main activities include gambling, drugs, prostitution and extortion. Their modus operandi is to offer loans at extremely high interest, between 30% and 50% per month.
“If borrowers fail to settle their debts, gang members will threaten and injure them. They use firearms and sharp objects for the purpose of extortion.”
Shuhaily said police seized 11 luxury vehicles of various models, 39 mobile phones, 64 ATM cards, cash and jewellery.
The case is being investigated under Section 5(2) of the Moneylenders Act 1951, which carries a minimum fine of RM250,000, or imprisonment of not more than five years, upon conviction. – The Vibes, July 14, 2021
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