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China Will Not Bow To US Pressure On Yuan Revaluation (Photo : Getty Images)

Loan sharks in China who had collected naked photos of female borrowers as collateral have made good their threat to make public the embarrassing pictures if the women fail to pay back their loans.

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The naked images of 167 female college students were leaked on Wednesday, thepaper.cn reported. The photos were in a 10-gigabyte package with pictures and videos of the borrower. It also included their identity information.

According to CRIEnglish, the Luodai, or loan sharks sometimes collect back from female borrowers who cannot repay their loans by seeking sexual services. In some instances, the loan sharks sell for profit the personal information of the borrowers. Most of the borrowers are from the Guangxi Autonomous Region, Sichuan Province and Jilin Province.

In one photo of a female borrower with the surname Ren, the receipt was placed on her exposed breast. According to the receipt, Ren borrowed 6,000 yuan (or $872) for one month. The lender was Wang Wei, the money coursed through Jiedaibao, the popular online peer-to-peer lending platform of JD Capital.

Ren’s loan repayment was due on Oct. 2 with a monthly interest of 400 yuan. The receipt states that if she could not pay back the loan by the due date, Ren would be held solely responsible, Globaltimes reported.

Jiedaibao, which was blamed for the leak of the naked photos, denied on Thursday that it posted or stored the naked photos of the female borrowers. It explained on its Sina Weibo account that the borrowers went to shady dealers who conducted private transactions that bypassed Jiedaibao.

Following the exposure of the illegal lending scheme, China’s central bank said in May that it would study ways to collect and distribute data on how funds raised online are being used due to risks caused by lending not regulated by the People’s Bank of China.