BALIK PULAU, July 9 — A 43-year-old man has been arrested for allegedly serving as a mule account holder for an illegal moneylending syndicate in a RM2,676,000 loan transaction involving a businessman.
Barat Daya district police chief Supt Kamarul Rizal Jenal said the suspect was nabbed on Thursday (July 6) when he turned up at the district commercial crime division to give his statement.
“Preliminary investigations show that the man is the owner of an account used by the loan sharks but he is not an Along (illegal moneylender).
“Police traced the suspect after a man lodged a police report that he was threatened by the syndicate for failing to repay the loan,” he told Bernama when contacted today.
Kamarul Rizal said the businessman had borrowed RM2,676,000 between December 30, 2021, and July 19, 2022, and had repaid RM1,608,000 by depositing money into nine different bank accounts in stages.
The businessman started receiving various threats from the syndicate after he stopped making repayments last year.
He said police were now hunting for members of the illegal moneylending syndicate.
“The suspect has been remanded for investigation under Section 5 (2) of the Moneylenders Act 1951,” Kamarul Rizal added.
— Bernama
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