Syndicate offering non-existing loans busted

GEORGE TOWN: A syndicate offering non-existing loans amounting in the millions but collecting processing fees have been busted following the arrest of 13 people. State police chief Comm Datuk Mohd Shuhaily Mohd Zain said the loans were offered via social media including Facebook and WhatsApp. He said the syndicate, operating from a luxury condominium in Bukit Mertajam, would contact potential victims before deceiving them by collecting payment as a processing fee. "There had been 132 investigation papers involving this syndicate with losses totalling RM1.9mil. Comm Mohd Shuhaily said three laptops, 27 handphones and 10 notebooks with phone numbers and victims’ bank account details were also seized from them.