PETALING JAYA: A businessman scoured the Internet in a desperate bid to secure a loan, only to end up losing thousands of ringgit.

Tan, 36, was forced to look to social media for loan services after his applications were rejected by four different banks since June.

In early September, he learned that an online service that he applied to was interested in granting his loan.

Two more moneylenders then said they would approve his application as well shortly afterwards, with a total proposed loan of RM124,400 from all three.

These services were purportedly based in Penang, Johor and Klang.

But his relief quickly vanished when all three “lenders” started charging him fees to approve his loan.

“One charged me RM5,000 for my RM10,000 loan,” he said at a press conference held by MCA’s Public Services and Complaints Department head Datuk Seri Michael Chong.

Although he had his doubts, Tan said one of the lenders produced letters bearing the Bank Negara Malaysia logo, convincing him.

As Tan was desperate for the loan, he paid what he could to the lenders, and what he could not, he borrowed from loan sharks.

Tan told the media that he borrowed an additional RM20,000 just to cover the so-called fees imposed by the lenders, but no money came after the payment.

He was also forced to seek family help to pay off the loan sharks.

A total of RM16,380 was lost throughout his online ordeal.

Chong said he contacted one of the lenders, known as Melisa, in his attempt to help Tan.

“When I started asking for official documentation, she immediately hung up. She never answered my calls again,” said Chong.

He added that Tan had already made four police reports.

-The STAR-