Sixteen individuals have been arrested on suspicion of violating the Investment Law by charging excessively high interest rates on loans. Fukuoka and Hokkaido police believe this group, operating out of Fukuoka, managed an illegal loan sharking operation, collecting over 800 million yen from at least 5,800 victims nationwide. The suspects, aged 20 to 50, allegedly lent money at 4 to 11 times the legal interest limit. They used social media to recruit clients and conducted non-face-to-face transactions. Police suspect the group’s ties to organized crime and are investigating further. Source: NHK
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