Businessman trapped in loan scam, RM1.2 mln lost as syndicate issues kidnap threats

3 hours ago 5

ADVERTISE HERE

By DayakDaily Team

SIBU, April 14: A local businessman in his 40s endured a terrifying ordeal involving threats of violence and the kidnapping of his child, after falling victim to an illegal online loan syndicate that has cost him nearly RM1.2 million.

In TVS news, National Consumer Action Council (MTPN) chief Lucas Lau said the victim not only suffered severe emotional distress but was also subjected to criminal intimidation, including threats against his family.

He said the victim became entangled in the scam in January after communicating with more than 70 individuals via WhatsApp.

“A total of RM700,000 was deposited into the victim’s account without his consent. The syndicate then exploited the situation by demanding repayment with extremely unreasonable interest rates.

“The victim has already paid RM1.2 million, yet the syndicate continues to claim that he still owes another RM1.5 million,” he said yesterday (April 13).

He added that the situation escalated on April 10, 2026, when the syndicate issued direct threats to harm family members and abduct the victim’s child.

“This is no longer a simple debt matter; it is a serious criminal offence,” Lau stressed.

Under mounting pressure, the victim sought assistance from MTPN Sarawak before lodging a police report on their advice.

The case took a further turn when two men, believed to be from Peninsular Malaysia, offered to settle the alleged debt on condition that the victim transfer ownership of his property.

However, with police cooperation, both suspects were arrested on April 11 at a restaurant in Sibu during a follow-up meeting with the victim.

Authorities also seized several items, including mobile phones, ATM cards, cash, and a laptop believed to have been used in the syndicate’s operations.

The case is being investigated under Section 5(2) of the Moneylenders Act 1951 and Section 506 of the Penal Code, with both suspects remanded by the Sibu Court to assist in further investigations. — DayakDaily

Read Entire Article