Suspect allegedly charged interest rates that were 15 times that allowed under the Money Lending Business Act
Posts tagged as “loan sharking”
Victims were charged rates of interest on loans that were between 42 and 92 times that allowed under the law
Suspects believed to have collected ¥33 million from 270 persons nationwide
Suspects believed to have collected ¥250 million since 2009
Suspects targeted small- and medium-sized enterprises in the Kanto area
Police believe suspects collected a total of ¥100 million over 16 months
Police arrested the husband of Ai Kago for allegedly loaning ¥2.5 million yen at an illegal interest rate
Loan amounts will be limited to less than one-third of borrowers' annual incomes