Macau and Chinese Police Cracks Down On $2.6M Casino Loan Shark
Macau and Chinese police arrested Monday 76 people for alleged involvement in the gambling-related loan sharking worth $2.6 million, reports the news outlet GGRAsia.
Casino-related crimes are a burning issue in China’s Administrative Region, with the number of loan sharking offenses experiencing a 16.1% year-over-year increase in the first half of 2019.
The loan shark scheme is valued at $2.6 million, with the local police seizing over $700,000 by freezing 13 “junket accounts.” The suspects actively targeted gamblers at Macau casinos, detaining those who failed to return the debt.
The police carried out the majority of arrests – 41 – in Macau, while 35 other individuals were apprehended across China, including in the cities of Beijing and Zhuhai.
The police officials believe that the operation has been running for about two years and that more suspects are on the loose. The arrests are the result of a joint six-month investigation of Macau and Chinese police.
In early October, Macau law enforcement issued a warning, stating they would launch a crackdown on loan sharking. During this time, 25 individuals were sentenced to prison for their involvement in this crime.