For example 4 men and woman were recently arrested in Larnaca for loan sharking. The suspects in question (all in their 30's and 40's), were detained by Police, after a local businessman aged 34 filed a complaint.
In essence the businessman borrowed the sum of €23,000 at a 30% interest rate (we thought the bank of Cyprus was expensive, but they don't give loans anyway now) from 3 different suspects. The businessman claims he already paid back €30,000 to date but the suspects allegedly demanded another €70,000, which accounts to considerably more than the 30% interest involved.
The businessman was forced to borrow the money due to a financial issue, which is commonplace at present in Cyprus.
The suspects were held in connection with extortion, usury and profiteering. The trouble is our own Government in collusion with the Troika is actually guilty of similar charges over the whole population in the past year of so. In essence the Government and banks caused the economic crisis and then penalized the population for the problems they generated, by resorting to the tactics of common criminals by taking money from peoples bank accounts and then increasing all taxes to cover for their mistakes. The difference being that we can catch the loan sharks by appropriate use of the law, but when it comes to the Government and Banks, they are a law unto themselves!