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Loan Sharks in Rhodes. 

Usurious circuits have appeared in Rhodes due of the economic crisis and have found fertile ground to wrap their tentacles around many businesses and individuals in our region, who were in a difficult financial position and turned to them in order to ensure liquidity even with the extortionate interest rate which begins from 5% and reaches up to 12% monthly.

Usurious circuits have been spotted in Rhodes, run by people above suspicion. As stated by the local newspaper "the chairman of the National Federation Borrower of Greece, Vangelis Kritikos pointed out that the economic crisis has forced many citizens, particularly small businesses owners, to ask for help in order to survive.

"We receive many complaints from the island of Rhodes, which are about usurious circuits in the region consisting of locals. It is understood that the financial crisis has reinforced these actions, especially on our island and this phenomenon has received enormous dimensions compared to other regions of Greece since the only option for owners of small businesses, in order to find cash, is to meet their obligations as the banks will do not loan any money. "

According to Mr. Kritikos the usurers of Rhodes are active members of our society with a strong presence. Indeed properties have been handed over overnight with procedures done outside of Rhodes and from one moment to the another. Sometimes, wealthy business men have lost their properties and were literally left on the street. There are some cases in which entrepreneurs, although they had lost all their property, they had not paid off their debts and the moneylenders would even go after their children. Many were forced to leave the island and some even left the country in order to lose track of them.

"We have been called as a Federation to intervene in many cases of usurers who extort borrowers on the island ofRhodes bringing them to a breaking point. Unfortunately it is not something that can be easily treated, since the economic crisis.