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To repay his loans, he tried to arrange for his wife to become a prostitute, telling her it was a job that paid well.
This was what Madam Lim Kum Hui, 54, who was married to Mr Sim Chee Yong, 56, for three years, told Lianhe Wanbao.
The couple were divorced more than 30 years ago and lost contact with each other.
Then, over the weekend, news broke that Mr Sim had been killed.
He was abducted on Nov 26 in Johor Baru and his kidnappers demanded a ransom of RM800,000 ($330,000) for his release.
It was later reduced to RM400,000, but his family could not raise the money.
On Dec 1, his body was found floating at a pier in Pasir Gudang, at the Johor Strait.
He was cremated yesterday.
When she was told about her ex-husband's death, Madam Lim said that she would not be paying her respects. They did not have any children together.
"We've been divorced for so many years and no longer have anything to do with each other," she said.
"I just wish him a good journey and hope the Malaysian police will catch those who were involved."
Mr Sim later married a Malaysian woman, Madam Lim Chai Mooi, 50, who told reporters that he sold Buddhist amulets at Jalan Wong Ah Fook in Johor Baru for a living.
But the Malaysian police said he was a loan shark and had nine previous criminal offences there.
His former wife did not want to elaborate on how Mr Sim had tried to make her become a prostitute.
The couple married in 1976, when he was 21 years old.
