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A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to enforce the satisfaction of the debt. [1]
An illegal loan shark who goes above legally permitted maximum interest rates is called yamikin, short for Yami Kinyu (闇金融, "Dark Finance"), and many of them lend at 10% for 10 days. Around 14 million people, or 10% of the Japanese population, have borrowed from a sarakin .
Susumu Kajiyama (梶山 進, Kajiyama Susumu, born around 1950) is a retired yakuza best known for his arrest in 2003, who was dubbed the "loan shark king". He has been introduced as a senior member of the Shizuoka-based Goryo-kai, a secondary organization of Japan's largest yakuza syndicate, the Yamaguchi-gumi, [1] although he was technically not a member of the Goryo-kai.
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Attorney General Letitia James is seeking $1.4 billion in damages. New York sues loan shark group accused of charging Manhattan’s City Bakery and other small businesses ‘illegal’ rates of up ...
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