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Site Last Updated 12:46 am, Sunday

From
cash loan – Yahoo News Search Results:

BALIK PULAU: Police arrested a man, believed to be a loan shark and seized RM545,599 in cash in a raid on his house in Teluk Kumbar, here, on Thursday.

A police spokesman said the 35- year-old suspect tried to escape in the 2.30pm raid but failed, as a team from the Commercial Crime Investigation Division of the Southwest district police headquarters had cordoned the house.

“Acting on information from the public and intelligence report, a team of policemen, through Op Cenderawasih, raided the house and arrested the man.

“While conducting a search at the house, the police team also found RM545,499 in cash, 51 withdrawal slips from various banks, 96 loan cards from various banks, 51 cheques for almost RM1 million and 10 savings account books from various banks,” he said, here, yesterday.

The spokesman said police also found three machetes which were suspected to be used in illegal money lending activities.

The initial police investigation found the man had been carrying out the illegal activity since last year and had been imposing high charges on the borrowers.

Penang CID deputy chief, ACP P R Gunalan, when contacted, confirmed the man’s arrest and that he was being remanded to assist in the investigation.

He urged those who had borrowed money from the man to come forward to facilitate the investigation.  — Bernama

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Site Last Updated 12:46 am, Sunday

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