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The police have arrested an illegal loan organization that made small business owners and job-seekers who are still struggling.
He has led a luxurious life by lending money at a ridiculous interest rate of over 5,000% a year and collecting the proceeds.
Reporter Min-wook Kim of KNN reports.
<Reporter> A
police officer who forcibly opened the door enters the apartment.
It is an unregistered illegal loan business office and accommodation.
[Police: What are you doing here?
This is an unregistered loan sharking office.] In
a luxury apartment in Haeundae, Busan, which was used as an office, bundles of cash were found in bundles of 50,000 won bills.
The general manager, Mr. A in his 40s, and his party lent high-interest bonds of over 5,000% per annum to 7,900 people.
It is a murderous extortion that is more than 260 times the legal maximum interest rate of 20% per annum.
When General Manager A secured a list that could not be loaned from the financial sector and distributed it to eight teams across the country, he approached small business owners and job seekers who needed urgent money.
In this way, the criminal proceeds earned over a year and six months alone amounted to KRW 14.6 billion.
Police investigations revealed that they had rented a high-end, difficult-to-access apartment to avoid police pursuits.
[Kim Woong-kyung/Busan Police Agency's Economic Crime Investigation Team Leader: (The high-end apartment) has a good security system, so even the police can't easily enter (I used it as an office.)] General
Manager A uses the proceeds of crime to pay for a high-end foreign car 3 It was found that he lived a luxurious life, such as buying large bags and luxury bags.
The police arrested General A on charges of violating the Loan Business Act, and charged 45 people per day without detention and handed them over to the prosecution.
(Video coverage: Park Young-joon KNN)