Four arrested for suspected involvement in assisting loansharking syndicates
AsiaOne Wednesday, Oct 29, 2014
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SINGAPORE - Two men and two women, aged between 22 and 40, have been arrested for their alleged involvement in loansharking activities in four separate cases.
In a press statement on Wednesday, the police said that acting on information received, a 40-year-old woman was arrested in the vicinity of North Bridge Road at about 3.40pm. One mobile phone was seized.
Through follow-up investigations, officers from Choa Chu Kang Neighbourhood Police Centre (NPC) subsequently arrested one 39-year-old woman and one 31-year-old man on the same day.
The woman was arrested in the vicinity of North Bridge Road at about 3.40pm, and 4 ATM cards, 32 ATM transaction receipts and 1 mobile phone was seized. The man was arrested near Lower Kent Ridge Road at about 6.40pm, and police seized 5 ATM cards and 1 mobile phone.
In the last case, officers from Woodlands East NPC arrested a 22-year-old man in the vicinity of Woodlands Square on Oct 28 at about 8pm. Upon his arrest, 4 ATM cards, ATM transaction receipts and 1 mobile phone was seized.
Preliminary investigations indicated that all four are suspected to be debtor-turned runners, who assisted loanshark syndicates to procure Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) from other debtors to perform ATM fund transactions.
The four suspects will be charged in court on Oct 30.
Under the Moneylenders Act 2010, those found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined between $30,000 and $300,000, face a jail term of up to four years, and punishment of up to six strokes of the cane.
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