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Loan-For-Nudes Scheme Exposed - YouTube
Channel: The Young Turks
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CHINA IS INVESTIGATING ALLEGED
NAKED LOAN SHARKS WHO TRY TO GO
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AFTER FEMALE COLLEGE STUDENTS
WHO CAN'T PAY FOR THEIR
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EDUCATION, SO THEY ASKED THEM OR
DEMAND NAKED PICTURES OF
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THEM AS COLLATERAL IN CASE THEY
DON'T PAY THEIR DEBTS.
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LET ME GIVE YOU THE DETAILS ON
THIS.
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IT WAS REPORTED BY THE GUARDIAN.
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"UNDER THE AGREEMENT, SOME
COLLEGE STUDENTS HAVE
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AGREED TO SEND PHOTOS OF
THEMSELVES NAKED, HOLDING
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IDENTIFICATION CARDS TO
POTENTIAL LENDERS.
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IN EXCHANGE, THEY BECAME
ELIGIBLE FOR HIGHER LOAN
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AMOUNTS, 2 TO 5 TIMES THE NORMAL
SUM."
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THE LOAN SCHEME IS TAKING PLACE
ON JD CAPITAL'S WEBSITE, A
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PLATFORM WHERE INDIVIDUALS,
OFTEN FRIENDS AND
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ACQUAINTANCES, CAN LEND OR
BORROW MONEY, STRIKING
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THEIR OWN ARRANGEMENTS."
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IT'S EVERYDAY PEOPLE WHO ARE
LENDING MONEY TO INDIVIDUALS.
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BUT THEN PROBLEMS COME UP WHEN
YOU NEED SOME SORT OF COLLATERAL
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OR SOME SORT OF WAY TO MAKE SURE
THIS PERSON PAYS YOU BACK.
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SOME PEOPLE ARE TAKING ADVANTAGE
OF THE SYSTEM AND ARE USING
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NAKED PICTURES AS COLLATERAL.
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THEY CHARGE THESE INSANE
INTEREST RATES AND THESE
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YOUNG GIRLS, OR WOMEN I SHOULD
SAY, DON'T REALLY KNOW WHAT
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THEY'RE GETTING THEMSELVES INTO.
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IMAGINE BEING SO POOR THAT
YOU WANT TO BETTER YOURSELF,
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YOUR FAMILY, YOU WANT TO GET A
COLLEGE EDUCATION YOU CAN'T PAY
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FOR IT SO YOU WANT TO GET ALONE,
AND THEN THESE PEOPLE TAKE IT
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VANTAGE OF THAT BY ASKING YOU TO
帽 ADVANTAGE OF THAT BY
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ASKING YOU TO SEND A NAKED PHOTO
AS COLLATERAL.
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HOW DO YOU NOT MODERATE THAT?
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HOW DO YOU FACE YOUR INVESTORS?
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AND SAY THIS
IS FINE?
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I AGREE WITH YOU, BUT THEY
ARE SAYING IT'S PART OF A
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PRIVATE TRADE DEAL, THEY'RE NOT
INVOLVED IN IT AT ALL.
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WHAT IF IT'S A PRIVATE DEAL
WHERE 帽 I UNDERSTAND THAT 帽
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WHAT IF IT'S A PRIVATE DEAL WHEN
THEY'RE LIKE, YOU'RE GOING
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TO HAVE SEX WITH ME AND THEN
I'LL REDUCE YOUR INTEREST RATE?
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THAT'S ILLEGAL, THEY SHOULD
MODERATE THAT.
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IN THAT INSTANCE YOU CAN'T GO
AHEAD AND SAY, SORRY, IT'S
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A PRIVATE DEAL.
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JD CAPITAL IS NOW TRYING
TO BACKPEDAL FROM THEIR
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ORIGINAL STATEMENT.
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THEIR ORIGINAL STATEMENT WAS,
WE'RE JUST PROVIDING A PLATFORM
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FOR THESE PEOPLE TO DO THEIR
LOANS AND WE ARE NOT PART
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OF ANY OF THAT.
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BUT IF YOU ARE PROVIDING A
PLATFORM FOR THAT TYPE OF
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ILLEGAL ACTIVITY THAT EXPLOITS
PEOPLE SEXUALLY, WELL
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THAT'S WHEN THINGS STARTED
GETTING REALLY TRICKY.
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SO THAT'S, I DON'T KNOW HOW
THAT'S GOING TO PLAY OUT
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FOR THEM BUT THEY HAVE KIND
OF BACKED OUT OF THAT
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STATEMENT, AND CLAIMED A LITTLE
BIT OF RESPONSIBILITY RECENTLY.
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ONE THING I WANTED TO MENTION
IS, WHAT'S HAPPENING IN
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CHINA RIGHT NOW IS DISGUSTING
WITH THESE LOAN SHARKS, BUT
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WE HAVE SIMILAR LOAN SHARKS HERE
IN THE U.S.
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VIDEO BUFFERING 帽
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ELIZABETH WARREN, WHO WAS
AMAZING OF COURSE, HAS BEEN
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GOING AFTER THESE AMERICAN LOAN
SHARKS.
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AND SO THERE NEEDS TO BE MORE
REGULATION TO PROTECT THE
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CONSUMER, BECAUSE 帽 AND SOME OF
YOU MIGHT SAY, WELL IF YOU
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DON'T WANT TO BE TAKEN ADVANTAGE
OF DON'T GO TO THE LOAN
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SHARKS, BUT IS NOT THAT EASY.
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SOME PEOPLE ARE SO INCREDIBLY
DESPERATE THAT THEY HAVE NO
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CHOICE.
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IT'S A HUGE FACTOR, WHERE
PEOPLE CAN'T BECOME A PART
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OF THE SYSTEM BECAUSE THEY JUST
HAVE A TREMENDOUS AMOUNT OF
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MEDICAL DEBT, WHICH RUINED THEIR
CREDIT.
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ALL OF A SUDDEN YOU CAN'T GO TO
A BANK AND GET A CREDIT
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CARD AND ACT LIKE ANY OTHER
NORMAL CITIZEN THAT IS
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SITTING AT HOME THINKING, WELL
DON'T JUST TAKE OUT A LOAN,
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WHAT'S WRONG WITH YOU?
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WORK HARDER.
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IT'S EASY TO BE INSENSITIVE,
BUT YOU TO THINK ABOUT WHY
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THESE PEOPLE TAKE THESE STEPS.
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WHY ARE YOU TAKING SUCH CRAZY
LOANS ON SUCH HIGH INTEREST?
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BECAUSE YOU HAVE NO OTHER
OPTION.
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I THINK IT'S A GOOD
COMPARISON.
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WHY ARE WE TALKING ABOUT THIS
STORY AND NOT WHAT ELIZABETH
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WARREN HAS BEEN POINTING OUT AND
SPEAKING OUT AGAINST?
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BECAUSE THIS IS SEXY, AND THAT'S
THE UNFORTUNATE THING WITH
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WHERE WE ARE WITH REGARDS TO
WHAT IS MAKING NEWS.
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THIS IS MAKING HEADLINES BECAUSE
THIS IS A SEXY STORY ABOUT
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COLLATERAL.
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BUT YOU'RE RIGHT, IT ISN'T ANY
DIFFERENT THAN A CAR TITLE,
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BUT A CAR TITLE ISN'T FUN WHEN
YOU CAN'T SAY NAKED LOANS.
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IT'S A LITTLE DIFFERENT.
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IT IS ON A PERSONAL LEVEL,
BUT WHAT THEY ARE ACTUALLY
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DOING ISN'T SO DIFFERENT.
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I UNDERSTAND.
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THE BLACKMAIL, SLEAZY
LENDING.
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I GET THE IDEA OF TAKING
SOMETHING AS COLLATERAL,
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YOU WANT TO ENSURE THAT YOU
LOWER THE RISK OF LOANING
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OUT THIS MONEY IS MUCH AS
POSSIBLE.
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WHAT'S HAPPENING IN THE UNITED
STATES AND CHINA IS THAT
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THEY ARE EXPLOITING PEOPLE WHO
ARE IN DISASTER SITUATIONS
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BY CHARGING THEM ENORMOUS
INTEREST.
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AND IF THEY CAN'T PAY THEIR
DEBT THAN THEY SELL IT TO
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ANOTHER COMPANY, MAKING MONEY ON
TOP OF THAT DEBT.
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PHANTOM MONEY.
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JOHN OLIVER DID A REALLY GOOD
REPORT ON THIS BY THE WAY.
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CHECK THAT OUT IF YOU WANT TO
SEE HOW SHADY LOAN PRACTICES ARE
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IN AMERICA.
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