KUANTAN: A female teacher learnt a bitter experience after borrowing cash from a loan shark when the money lender fastened her house gate with cable-ties after she failed to repay weekly installments.
To make matters worse, the 32-year-old teacher had borrowed a total of RM3,450 on three occasions from the loan shark but her payments has since snowballed to RM8,850.
The drama unfolded in January when the victim contacted the money lender after finding his contact number on a call-card in front of her house.
Pahang Commercial Crime Investigation Department chief Superintendent Mohd Wazir Mohd Yusof said the victim applied for a RM1,000 loan and received RM800 after the processing fee was deducted.
"Based on the payment schedule, the victim had to pay RM300 every week until she could pay up the principal (borrowed amount of RM1,000). After two weeks, the victim made a second loan application amounting RM2,000 and received RM1,650 while she was asked to pay RM350 per week as installment.
"In June, the victim borrowed another RM1,000 and was told to pay RM250 per week until she paid the principal amount. The victim claimed that she paid the loan according to the schedule and had completed the RM8,850 payment to the individual," he said.
Wazir said the victim claimed that when she arrived home on Aug 1, she noticed that her house gate had been fastened with cable-ties and when she contacted the money lender, he admitted committing the act.
"The victim lodged a police report claiming that the suspect locked her house gate after she failed to service the loan as agreed earlier," he said
Meanwhile, in a separate case, Wazir said a 33-year-old housewife from Maran who wanted to borrow RM5,000 from a loan agency on social media, instead, ended up losing RM8,360.
He said the victim who was browsing through Facebook on July 26 spotted the advertisement posted by the money lending agency and contacted them to borrow RM5,000.
"She spoke to three individuals who claimed they were from the money lending agency and made seven transactions to three bank accounts provided by the agency. She was convinced that the payments were for legal, documentation, insurance, income tax and banking procedures.
"The victim never suspected anything and followed their instructions until she paid up to RM8,360. When she was told to pay RM2,500 as account security payment, the victim knew she has been cheated and lodged a police report," he said.
Wazir said the suspects had convinced the victim that the payments were normal procedures that borrowers have to make before securing the loan and the victim did not realise that she had paid more than what she wanted to borrow.
He said both cases were being investigated under Section 420 of the Penal Code for cheating, which provides for a maximum jail term of 10 years and whipping, and a fine, if convicted.