Loanshark runner arrested
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Wednesday, Apr 16, 2014
SINGAPORE - Police have arrested a 35-year-old man for involvement in loansharking activities.
On Apr 15, 2014 at about 1pm, through follow-up investigations, officers from Ang Mo Kio Police Division arrested a man in the vicinity of Tebing Lane.
Preliminary investigations revealed that he had facilitated loansharks in their businesses by carrying out ATM transfers.
Investigations against him are on-going.
First-time offenders found guilty of assisting in the carrying out of the business of an unlicensed moneylender may be fined not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding four years, and shall also be liable for caning with not more than six strokes.
Commander of Ang Mo Kio Police Division, Assistant Commissioner of Police Keok Tong San, commended his officers for their perseverance and commitment in the fight against loansharking activities.
He said, "Police are determined to come down hard on all those who are involved in loansharking activities, regardless of their age or gender."
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