Kuala Lampur, April 10 --  

GEORGE TOWN, April 10 - Police have busted an unlicensed money lending syndicate (Ah Long) in Penang and Kuala Lumpur following the arrest of five local men in a raid in the city yesterday. 

Penang police chief Datuk Azizee Ismail said all the men, aged 19 to 29, were arrested by a team of police from the Commercial Crime Investigation Department (CID) of Penang Contingent based on information and intelligence through Ops Vulture.

"Initial investigations found that the syndicate offered loans online and face-to-face to borrowers with interest rates between five and 10 per cent on a weekly or monthly basis, depending on the borrower's convenience.

"They have been targeting hawkers and small tr...