A loan shark raising my debt too fast
I am an entrepreneur that accidentally asked a favor to a loan shark and now he is blackmailing me to pay up or he will spread fake news about my business. I do not want that to happen and maybe he was just bluffing. I am scared that even though I pay him up, he will still spread fake news. What should I do'?
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There is a law regarding loan sharks that when they charge that is 15% greater than the interest of any other loan, they will be obligated to give back a refund. Aside from that, he also violated the law regarding blackmailing and that is a different case. He will face a different penalty regarding blackmailing and may even be sentenced to be jailed.