News Column

Loan sharks held

July 9, 2014

FOUR men and woman were arrested in Larnaca on Wednesday in connection with loan sharking, police said.

The suspects, aged 38 to 45, were detained by police after a 34-year-old businessman filed a complaint that he had borrowed 23,000 at a 30 per cent interest from three different people.

The man said he had paid back 30,000 so far but the suspects allegedly demanded 70,000 more.

The man said he was forced to borrow the money due to financial problems he faced in the past year.

A police spokesman said the suspects were held in connection with extortion, usury, and profiteering.

Send to Kindle

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Cyprus Mail

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters