Ahsmon shows the mugshots of some of the suspects who have been arrested.
KUCHING (July 15): The police here have crippled an unlicensed money lending syndicate or Ah Long with the arrests of two leaders and 12 other members in the last two weeks.
Kuching police chief ACP Ahsmon Bajah said investigations showed that the syndicate had been operating since 2016 in Kuching, Samarahan, Padawan, and Bau, and had disbursed about RM1.1 million in loans.
“We have been investigating and monitoring this syndicate for a month under Op Venture Khas,” he told a press conference today.
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Ahsmon said after narrowing down the information, police started arresting syndicate members including the accountant, marketing personnel, and debt collectors.
Ahsmon (third left) and his men show some of the banners seized from the suspects.
He added that the syndicate’s modus operandi was to gain the confidence of victims by giving out business cards and issuing receipts to appear like a legal money lending entity.
Once the victim had applied for the loans, they would be charged extremely high interest rates, he said, adding that the syndicate would also illegally hold on to the victims’ ATM cards.
“So far we have identified a total of 500 victims or borrowers from this syndicate,” said Ahsmon.
In the last two weeks, police have raided four houses, one apartment, and one commercial shop, where various transaction records such as payment receipts were found.
Ahsmon added that police also seized flyers, brochures, and various telecommunications devices from these premises.
He said investigations have revealed that the syndicate was using legal businesses such as furniture and electrical shops for money laundering.
“We have identified these premises and will take action very soon,” he said.
All of the suspects are being investigated under Section 5(2) of the Moneylenders Act 1951.