Loan Shark..

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Loan Shark..
Topic Started: Jul 2 2008, 03:49 PM (140 Views)
advocatt	Jul 2 2008, 03:49 PM Post #1
Administrator Posts: 74 Group: Admin Member #1 Joined: June 24, 2008	Wednesday July 2, 2008 Loan sharks harass mother to settle son’s debts By HAH FOONG LIAN IPOH: It was a diamond ring that she had treasured all her life but 65-year-old Foong May Chee had to part with it to get her son’s loan shark off her back. However, the one-carat diamond ring and other jewellery were insufficient to settle her son’s loan taken from 19 Ah Longs which amounted to a debt of over RM140,000. Relating her plight at a press conference organised by Perak MCA Public Services and Complaints Bureau chief Tony Khoo yesterday, the housewife said: “A man came to my house and demanded that I pay up my son’s loan but I told him I have no money.” For fear of her life, Foong said she gave her jewellery, including a one-carat diamond ring, to the man. “The man threatened to return to her home at Taman Pakatan Jaya for the money that her son, Kenneth Chin, had borrowed,” she said. After the 5pm incident on June 6, Foong said her son told her that he had borrowed money from 19 loan sharks for his business. Foong said her 42-year-old son was a medical sales representative and he could have started by borrowing RM8,000 for his business. The amount, she said, was believed to have increased to more than RM140,000. “Now he has gone into hiding and I don’t know where he has gone to. I hope the loan sharks will leave me and my daughter alone and not ask us to pay for him,” she said, adding that her daughter was living in Kuala Lumpur. She added that she was no longer working and had no money to settle her son’s debt. Foong, who is no longer living in her house for fear of the loan sharks’ threats, said she had tried raising funds to help her son pay up the debts but failed to come up with the money. “Now I want to tell the loan sharks that I have severed all ties with my son and there is no point in demanding payment from me,” she added. Khoo appealed to the loan sharks to stop harassing family members of the borrower. He said the Ah Longs should have realised that they would not be able to recover the loans if they were to lend money to a person who does not have collateral to settle the sum. ______________________________ a lesson to learn-be carefull with loan shark how difficult you are..


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