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Loan shark ring targeting foreign workers busted
Central News Agency
2014-11-08 04:15 PM
Taipei, Nov. 8 (CNA) Police said Saturday that they had cracked a loan shark ring targeting foreign workers in Taoyuan County.
The underground lender was found to have given out several million Taiwan dollars in loans to approximately 100 foreign workers, mostly from the Philippines, at an exorbitant interest rate of 6 percent per month, police said.
The syndicate was operated by a Taiwanese man surnamed Hsu, his Filipina wife and two of his nephews, who would look for opportunities to meet cash-strapped foreign workers at places such as churches and restaurants and entice them into borrowing, police said.
(By Chiu Chun-chin and Y.F. Low)
