$1,000 debt ballooned to $180,000

[Imperial Cruiser]

$1,000 debt ballooned to $180,000

The Star/Asia News Network
Tuesday, Jun 26, 2012

SINGAPORE - China Press reported that a man was now heavily in debt after he borrowed $1,000 from a loan shark in Singapore.

Within four months, the amount had ballooned to S$180,000, rendering him unable to pay the debt. He now owes at least 87 loan sharks in the island republic.

It all started when the man, in his 40s, began working as a middleman to provide labour services two years ago. He started borrowing from a loan shark in February after running out of cash entertaining his clients.

His nightmare began when he could not afford to pay the initial debt. He then had to turn to another loan shark and before long, the number of loan sharks increased.

 

[IamHandsome]

If invest 1k to do business n ballooned to 180k four months later, good man.

 

[Baluku]

Isn't it interesting that banks have to comply with MAS regulations,

But not Dai Yi Long business? LOL!

 

[hokkien]

Now he still got to pay back to ah long even his news is on papers