Despite paying over $11,350 to loan sharks over debts he never incurred, this Malaysian working in Singapore allegedly had his house set ablaze, Shin Min Daily News reported on Sunday (April 26).
Speaking with the Chinese publication, Chen Jiaqiang (transliteration) who works as a carpenter in Singapore recalled how he was contacted by a loan shark through his phone in 2025.
The loan shark had purportedly purchased information about Chen which included his phone number, pestering Chen to take a loan from them.
Although he refused to borrow money, Chen said he received a phone call from the loan shark a week later, notifying him that $500 had been transferred to his account.
Chen would need to pay $100 in interest every week due to this loan, the loan shark allegedly said.
“I said I would return the money immediately,” Chen told Shin Min. “But he refused and stressed that I could only pay the interest and cannot return the principal sum.
“In order to avoid trouble, I had no choice but to follow suit.”
He paid $300 in interest to the loan shark and mutually agreed to end things with him after a $2,700 payment through PayNow, Chen said.
