Reported about 1 year ago
In Hualien, Taiwan, the police uncovered a phone communication company operating as a loan shark, offering installment payments for phones but actually providing excessive loans with exorbitant interest rates up to 72.6% per year. Victims were pressured to repay high interest weekly, leading some to borrow money from their bosses. The police raided the phone company, revealing the illegal practices and sending the operators for prosecution. The public is warned to be cautious of such traps and deceptive schemes when purchasing phones.
Source: YAHOO