Poor Man Victims of Loan Shark
On Monday, a man told the suburban police commissioner that he had borrowed money worth Rs 10 lakh from a moneylender with a guarantee a home worth Rs 45 lakh. Starting from 2008 Malik Md Azeem of AGS Colony, Velachery and he has to repay the loan Adambakkam. The total of loan including bear interest until the year 2010 reached Rs 29 lakh.
According to Malik, she has to pay interest from the loans. The loan was used to paid his child studied . At the time of loan moneylender have added interest at 6 months before the loan was received by him. The moneylender was his friend who was also a politician to change the power of attorney houses in AGS Colony to his name with forced him and his family to sign these letters.
He gave Malik money worth Rs 1.5 lakh to take his house key even though the house was worth Rs 45 lakh. He and his family now living in his friend’s house at Madipakkam and he wanted the police to take action and got his house back. He borrowed money from moneylender because he has resigned from aluminum manufacturing company in Saudi Arabia from 2005 to 2007 because he was not happy with his salary.