Hong Kong police arrested 127 people, including 37 Vietnamese nationals, in a crackdown on a Vietnamese-led syndicate accused of loan sharking, illegal gambling and running unlicensed bars. The arrests followed a six-month undercover investigation in West Kowloon. Police raided eight premises on October 8 and 9. Authorities said 10 suspects were core members, including a Vietnamese woman holding a Hong Kong identity card who was suspected of leading the syndicate. Police allege the group charged borrowers HK$100 a day for every HK$10,000 borrowed. Officers said the scheme amounted to an interest rate of about 3,700 per cent, far higher than Hong Kong’s statutory lending-rate cap of 48 per cent. Borrowers struggling to repay were allegedly pulled into illegal rotating savings schemes known as hụi. In one arrangement, 20 participants each contributed HK$5,000 over 10 days to form a HK$100,000 pool, with the suspected ringleader controlling the distribution of funds. Police also alleged threats, assaults and unlawful detention against people who could not pay. Some were reportedly forced to take part in drug trafficking. In addition to loan sharking, the syndicate was suspected of operating gambling venues offering baccarat and Vietnamese card games, and two unlicensed bars where drugs were allegedly supplied. Grocery shops and a Vietnamese association were allegedly used as fronts. Police said the group also helped undocumented immigrants find accommodation and work, supplying counterfeit Hong Kong identity cards and construction worker cards for HK$2,000 to HK$2,500 each. Officers seized more than HK$2 million in cash and valuable assets, along with loan records, suspected counterfeit-document equipment, gambling paraphernalia and suspected drugs. A car worth about HK$400,000 was also seized at the suspected ringleader’s home. The suspects comprised 55 men and 72 women aged between 23 and 92. Police have not ruled out further arrests. The latest status of the case is that the group members have been arrested as part of the ongoing investigation.