The Seoul Northern District Prosecutors' Office today (3rd) arrested and indicted a man in his 30s on charges of violating the Loan Business Act and the Debt Collection Act.
Mr. A is accused of illegal collection by lending 17 million won to six people at high interest rates without registering for a loan business for four months from July last year, and sending hundreds of threatening messages to their families and acquaintances.
Among the victims, a single mother in her 30s borrowed hundreds of thousands of won from A and ended her life on her own in September last year after incurring more than 10 million won in a month at an annual rate of 3,000 percent.
Mr. A is also accused of using someone else's account and mobile phone to operate the loan business.
The prosecution investigated the illegal collection of single mothers with the police and found that there were five more victims.
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