127 arrested as Hong Kong police bust Vietnamese-led loan-sharking syndicate
Hong Kong police have arrested 127 people in a six-month undercover operation against a Vietnamese-led crime syndicate accused of running loan-sharking rackets charging interest rates of up to 3,700 per cent, as well as illegal gambling and unlicensed bars in West Kowloon. The syndicate is also alleged to have helped illegal immigrants find shelter and work, with police raiding eight premises on…
On October 8-9, Hong Kong police conducted a six-month undercover operation to bust a Vietnamese-led loan-sharking syndicate suspected of operating in West Kowloon. The syndicate is accused of charging interest rates up to 3,700 per cent, illegal gambling, and unlicensed bars, while aiding illegal immigrants with shelter and work.
Eight premises were raided during the operation, leading to the arrest of 127 people, including 10 core members, with the suspected leader being a Vietnamese woman with a Hong Kong identity card. The syndicate used grocery shops and Vietnamese resident associations as fronts, providing counterfeit documents and illegal gambling venues.
Most core members were Vietnamese nationals with recognizance forms. The syndicate allegedly ran illegal rotating credit schemes and pressured debtors into drug trafficking. Police seized cash, valuables, and confiscated a car from the suspected leader's home. As of now, all arrested individuals remain in custody while further investigations continue.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
