A loan shark organization has reportedly been operating in Macau for at least two years, with 11 reportedly included in the loan shark this week alone before law enforcement officers arrested, with loans related to more than 10 million pataka ($1.25 million).
Earlier this week, police officers were able to catch four men from mainland China offering such loans to female tourists visiting casinos. After further research, it was revealed that the group of four was part of an organized syndicate of tourists from mainland China for more than two years.
Ho Chan-nam, a police spokesman, said the syndicate will see subordinates visit casinos and collect personal information of potential customers. This information will be used for background checks, which will be completed by senior members. Members of this group will consult with the ringleaders before they approach the traveler's loan requirements.
You have to pay an individual 10% to get the loan approved, and then you have to pay 20% for the money you receive each time. The group has been involved in several loan guarantee bullying incidents as well as loan schemes. In such cases, you may detain a person in debt in a hotel room or kidnap an individual on the mainland with identification documents taken from a gambler until they are paid.
According to a police investigation, more than 500 individuals borrowed money from the group and the loans totaled 10 million pataka. Fifty-five of them reported the group to the police. One of the group's masterminds is believed to have worked as a chemist or in a local hospital in Macau. Police raided some of the group's oysters and seized identification and receipts.