Prosecutors said the decision was 'based on the content of relevant evidence'
Posts tagged as “loan sharking”
Suspect said, 'I have absolutely no recollection of lending money or receiving interest'
Maximum interest rate charged by the suspects was more than 120 times allowed under the law
Ring operated by moving payments made by victims via bank transfer to accounts controlled by the suspects, police said
All five suspects deny the allegations, police said
Ring memebers claimed on internet bulletin board sites to offer lenient repayment terms, a practice referred to as 'soft loan sharking'
Ring is believed to have collected about ¥180 million from 700 persons
Suspects are believed to have obtained ¥190 million in profits in extending loans to a total of around 900 people
Suspect entered an outlet of Family Mart in Katsushika Ward while brandishing a crowbar
Suspect allegedly charged interest rates that were 15 times that allowed under the Money Lending Business Act