25 arrested as Hong Kong police bust loan shark ring charging up to 282% interest rate

Hong Kong police have arrested 25 people, some as young as 13, in a crackdown on a loan shark syndicate that charged victims annual interest rates of up to 282 per cent. Police said on Thursday that the triad-linked crime ring had loaned HK$200 million (US$25.5 million) to about 2,000 residents over the past year, with at least HK$8 million in criminal proceeds funnelled into core members’ personal accounts. During operations on Tuesday and Wednesday, officers raided three op