A 27-year-old man who was previously rescued from a massive gambling debt by his family has found himself in trouble once again after borrowing money from loan sharks in an attempt to repay them.
The man, identified only as Zhou, revealed during a press conference that he had previously accumulated RM100,000 in debt due to his gambling addiction, forcing his family to use their life savings to settle the amount.
Wanting to ease the financial burden placed on his loved ones, Zhou said he made the decision to borrow RM2,700 and RM2,800 from two separate loan shark syndicates.
“I wanted to repay what I owed my family and reduce their burden, so I recklessly turned to loan sharks again without thinking through the consequences,” he admitted.
However, Zhou soon found himself unable to keep up with the repayments, triggering a fresh wave of harassment and threats from the illegal lenders.
According to Zhou, the syndicates allegedly threatened to splash paint on his family home and even set the property on fire if the debts remained unpaid.
Desperate for help, he sought assistance from MCA Public Services and Complaints Department head Michael Chong.
Despite efforts to negotiate with the lenders, Chong said progress has been limited.
“One syndicate is demanding RM88,000. Although I contacted them to negotiate, they insisted the amount was non-negotiable and even challenged the borrower to lodge a police report,” Chong said.
He added that Zhou’s family had offered RM10,000 to settle the second loan, including both principal and interest, but the syndicate rejected the proposal and has yet to specify its demand.
Chong said the case highlights the continuing dangers of borrowing from loan sharks, despite repeated warnings about the risks involved.
He stressed that while authorities should continue taking action against illegal moneylending syndicates, consideration should also be given to introducing laws targeting borrowers to address the root cause of the problem.
The case has sparked renewed discussion about gambling-related debt and the devastating impact loan sharks can have on borrowers and their families.
