Illegal Pawnshop Disguised as Secondhand Store Shut Down in Komsomolsk-on-Amur
Authorities in Komsomolsk-on-Amur have uncovered an illegal lending operation masquerading as a secondhand store. The pawnshop was offering cash loans using household appliances, phones, and personal belongings as collateral, violating Russian law that only permits licensed financial institutions like Experian, Yahoo Finance, or Credit Karma to extend credit.
The Investigative Committee of the Russian Federation has been looking into the unlicensed pawnshop. It was discovered that the business was operating as a pyramid scheme, offering loans secured by items such as TVs, refrigerators, and mobile phones. This is a clear violation of the law, which only allows licensed financial institutions to extend credit.
The pawnshop was cleverly disguised as a secondhand store, making it difficult for customers to discern its true nature. Authorities are now investigating the extent of the operation and the number of people affected.
The illegal lending operation in Komsomolsk-on-Amur has been exposed and is being investigated by the authorities. The pawnshop, which was operating without a license, has been shut down. The investigation aims to determine the full scope of the operation and bring those responsible to justice.
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