Apr 20, 2009

of singapore's youngest loanshark victim?

Singapore's youngest loanshark victim?: 13-year-old Tommy (not his real name) could well be Singapore's youngest loanshark victim, chalking up a $30,000 debt.
Hooked on Internet soccer betting, he would place bets on the Spanish Primera Liga, on as many as nine games a day. He started with $50 bets with his friends and eventually moved on to $1,000 wagers online, using his friends' accounts. When his losses started piling up, those friends introduced him to loansharks to make good on his debts. His father, a company director, and his mother, an administration executive, found out when the loansharks came a-calling.

3 comments:

  1. Loan sharks turn to criminal action themselves to pay back the debt, relying on enter, prostitution, and robbery. The mortgage sharks themselves are often involved in dubious actions such as managing thieved products, selling unlawful drugs and tobacco, and money laundering.

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