Police busted a loan shark syndicate in Yuen Long and froze assets worth over HK$2 million, leading to the arrests of 63 persons.
Assistant commander for crime of Yuen Long District Au Yeung Siu-kong said officers between March and July initiated an operation targeting at illegal activities related to money lending, recovering debts and money laundering.
After in-depth investigation, officers conducted searches and raids between July 17 and 19, and busted a loan shark syndicate that illegally lent money to others.
A total of 63 persons, including 50 men and 13 women, aged from 14 to 66, were arrested. They all hold Hong Kong identity cards while three of them are connected to a triad.
They were arrested for criminal damage, aiding or abetting criminal damage, possessing anything with intent to destroy or damage property, criminal intimidation, lending money at excessively high interest rate, and money laundering.
In the operation officers confiscated HK$83,000, and loads of evidence involving illegal debt recovery, including receipts and paint.
Officers also froze that syndicate's assets worth over HK$2 million. They added that the operation is still ongoing and didn't rule out more arrests to be made.
After in-depth investigation, officers conducted searches and raids between July 17 and 19, and busted a loan shark syndicate that illegally lent money to others.
A total of 63 persons, including 50 men and 13 women, aged from 14 to 66, were arrested. They all hold Hong Kong identity cards while three of them are connected to a triad.
They were arrested for criminal damage, aiding or abetting criminal damage, possessing anything with intent to destroy or damage property, criminal intimidation, lending money at excessively high interest rate, and money laundering.
In the operation officers confiscated HK$83,000, and loads of evidence involving illegal debt recovery, including receipts and paint.
Officers also froze that syndicate's assets worth over HK$2 million. They added that the operation is still ongoing and didn't rule out more arrests to be made.