Ah Long demands RM85,000 for RM1,000 loan
LOAN sharks usually splash red paint on their victims’ homes or cars when they fail to get their payments.
In the latest case, however, a car accessory shop worker has been warned that he will be made “popular” on the Internet.
The illegal money lender is threatening to upload Lik Shiang’s photo and details on the Internet to shame him.
But what is worse is that, Lik Shiang’s RM1,000 loan has ballooned to RM85,000 in just two months.
The loan shark had also threatened Lik Shiang’s mother, demanding that she repay her son’s debts.
Lik Shiang lodged a report with Kajang police last Friday and has also sought help from MCA Public Services and Complaints Department head Datuk Michael Chong.
Lik Shiang said he faced some financial problems and could not settle the loan on time. The loan shark then started topping up the interest on the loan.
He said the loan shark then transferred the loan to another loan shark, then another. The one going after him now is the eighth loan shark.
“The interest is so high that I cannot afford. I have given them RM5,000 and now I still owe RM80,000. This is ridiculous,” he said.
Michael Chong said he had contacted Selangor police chief Deputy Comm Datuk Khalid Abu Bakar over the matter.
He said DCP Khalid had promised to look into the case.
Published Nov 16, 2009
LOAN sharks usually splash red paint on their victims’ homes or cars when they fail to get their payments.
In the latest case, however, a car accessory shop worker has been warned that he will be made “popular” on the Internet.
The illegal money lender is threatening to upload Lik Shiang’s photo and details on the Internet to shame him.
But what is worse is that, Lik Shiang’s RM1,000 loan has ballooned to RM85,000 in just two months.
The loan shark had also threatened Lik Shiang’s mother, demanding that she repay her son’s debts.
Lik Shiang lodged a report with Kajang police last Friday and has also sought help from MCA Public Services and Complaints Department head Datuk Michael Chong.
Lik Shiang said he faced some financial problems and could not settle the loan on time. The loan shark then started topping up the interest on the loan.
He said the loan shark then transferred the loan to another loan shark, then another. The one going after him now is the eighth loan shark.
“The interest is so high that I cannot afford. I have given them RM5,000 and now I still owe RM80,000. This is ridiculous,” he said.
Michael Chong said he had contacted Selangor police chief Deputy Comm Datuk Khalid Abu Bakar over the matter.
He said DCP Khalid had promised to look into the case.
Published Nov 16, 2009
