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Labor broker of migrant workers held for providing illegal loans with high interest

A Taiwan national who owns a number of migrant labor broker firms is under detention for illegally profiting from foreign workers by providing them with usurious loans, the Criminal Investigation Bureau (CIB) reported on Thursday.

The man, identified by his family name Huang, allegedly charged illegal usurious interest rates on the NT$780 million he has lent to more than 1,000 migrant workers in Taiwan since 2014, raking in profit of about NT$70 million, the CIB said.

Most of the victims come from Thailand, Indonesia, Vietnam and the Philippines, the CIB added.

On Jan. 18, Huang, 56, and 12 accomplices were detained following raids on residences across Changhua County by a task force, which acted on a tipoff, the CIB said. More than NT$12.65 million in cash, as well as computers, cellphones and computer tablets, were also seized, it said.

An initial police investigation indicates that Huang operated five migrant labor broker firms registered under the names of family members and unlawfully lent money at an annual interest rate of over 100 percent to migrant workers who needed money urgently.

Knowing the workers had no knowledge of Chinese and were in urgent need of money, Huang also deceived them into signing assignment of claims agreements in an effort to avoid legal responsibility, the CIB said.

Meanwhile, police have handed over the 13 suspects to Changhua District Prosecutors Office, which will determine whether there is sufficient evidence to bring charges. -Central News Agency



1 comment:

  1. I do not understand what profit this broker wanted to receive. To make money, I decided to go for a little trick and buy bitcoin with credit card on Of course, I understood that this was a risk for me, but I saw the upward trend in the price of bitcoin, so I had no doubts. So I was able to profitably sell bitcoins and take my margin.


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