Police Break Up Macau Loan Shark Ring That Went After Casino Dealers

Police in Macau have arrested 10 people that they have accused of running a loan-sharking operation that targeted casino dealers.

The ring put out high-interest loans to casino employees on the former Portuguese colony, and ended up taking employee ID cards until the debt was paid. If the debtor didn't make a payment, the sharks would send collectors to the employee's casino to cause a ruckus. Loans had an automatic 10% interest rate, with an additional 10% tacked on for every 10 days that the loan was active.

The raid came as a result of a tip that was laid in February, and an investigation had been taking place since that time.

It was found that there were 120 different employees who currently owed a debt to the ring, for more than 4 million Patacas ($500,000 USD).

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8 July 2016 - 10:30pm

Obviously the salaries of casino dealers in Macau are not too good or I couldn't explain that I don't know
Maybe most of these employees have been in a desperate need to get a loans with such high interest rate.