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Police smashed a loan shark syndicate active in Tsuen Wan following the arrests of four persons in a series of operations starting yesterday (Wednesday).

Following extensive investigations since February this year, officers from the District Crime Squad, Tsuen Wan (DCS/TW) yesterday raided a residential unit in Mong Kok in which a 37-year-old man and a 24-year-old woman believed to be members of the loan shark syndicate were arrested.

A large number of debtors' records were seized from the unit.

Police arrested another syndicate member, a 40-year-old man, at an automatic teller machines in Wong Tai Sin Mass Transit Railway Station on Wednesday afternoon when he withdrew money from an account to which debtors reportedly made their repayments.

Subsequent raids at 12 locations throughout Hong Kong resulted in the apprehension of a fourth syndicate member, a 23-year-old man, in a residential unit in Sha Tin this (Thursday) afternoon.

Investigations revealed that the syndicate charged its debtors $1,000 per 10 days for a loan of $10,000.

Police have identified some 20 debtors and the total amounts were estimated to be over $500,000.

Police appealed to the debtors of the loan shark syndicate to come forward by contacting the investigating team on 2417 5266 or calling the Police Hotline 2527 7177.

The arrested persons are still being detained for enquiries.

Investigations by the DCS/TW, are on-going.

Police Report No.5

Issued by PPRB

End/2300 hours, Thursday, April 15, 1999 (Lip/PW)

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