Updated: 04/26/2014 17:37 | By Channel NewsAsia
172 nabbed for alleged role in loansharking activities
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SINGAPORE: Police have arrested 172 suspects for alleged involvement in loansharking activities during an islandwide operation over the last four days.
The suspects arrested over 22-25 April comprise 110 men and 62 women, aged between 16 and 68 years.
A police statement said the operation involved simultaneous raids at several locations in Singapore.
Preliminary investigations show that 14 suspects are believed to be involved as harassers or runners in loansharking activities.
Police have also arrested one suspect for providing false contact information when obtaining loans from loansharks.
This resulted in an innocent house owner being harassed.
Under the Moneylenders' Act, first-time offenders found guilty of assisting unlicensed moneylenders may be fined between $30,000 and $300,000, be imprisoned for a term of up to four years and shall also be liable for caning of up to six strokes. - CNA/ir
