Call Him Bob

Police busted 22 suspects in a large anti-loansharking operation they believe was operated by members of three major triads.

The loansharks preyed on businessmen from small to medium-sized companies, particularly in the manufacturing industry. More than 200 debtors were found to have borrowed money from the syndicate, from amounts of tens of thousands up to one million dollars. They pumped out $8 million per year in loans but were raking in $34 million in repayments.

The sharks lent money at rates up to a staggering 430% per year. The legal rate maxes out at 60%. If you're dumb enough to borrow money at those rates, you have no business being in business.

Going to these guys for money is like swimming in the open ocean with both of your arms and legs cut and gushing blood.

You won't be swimming for long; it's difficult to keep your head above water when all you've got left is your torso.

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