29 arrested in crackdown on loan sharks who charged victims 3,000% in interest (opens original article in a new tab)

Hong Kong police arrested 29 individuals in a crackdown on a loan-sharking ring that charged victims up to 3,000% annual interest through exploitative lending practices and intimidation tactics.

• Hong Kong police arrested 29 people in a loan-sharking and money-laundering operation
• The syndicate charged victims annual interest rates up to 3,000% through excessive fees and repeated loans
• Teenagers as young as 14 were used to intimidate victims by splashing red paint on their properties