Six Suspects Arrested for 1000% Interest, Demanding and Distributing Nude Photos
Violation of Private Lending Business Act and Debt Collection Act Violation
The police have arrested six individuals, including Mr. A, who demanded nude photos if the debt was not repaid at an annual interest rate of 1000%.
According to Dongdaemun Police Station on the 22nd, Mr. A used the alias "Na Bujang" online and is suspected of illegal debt collection amounting to approximately 370 million KRW, under charges including violation of the Loan Business Act and the Debt Collection Act, by lending 300,000 KRW and receiving 500,000 KRW a week later.
Mr. A reportedly took the debtor's bank account and contact information of about 10 acquaintances as collateral and threatened to report to the police if the interest was not paid, while demanding nude photos.
The interest kept accumulating, reaching up to 1000% annually. Some debtors reportedly suffered damage as their nude photos were distributed among acquaintances.
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The police have applied for an arrest warrant for Mr. A and are investigating the group with the possibility that they may be a criminal organization in mind.
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