2 suspected loanshark runners arrested
AsiaOne Tuesday, Dec 02, 2014
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SINGAPORE - Two men have been arrested for their suspected involvement in two separate cases of loansharking activities.
The first suspect, who is believed to be a debtor-turned-runner, was arrested yesterday at about 3.45pm. Five ATM cards and a mobile phone were seized from the 32-year-old as case evidence.
The second suspect, who is also believed to be a debtor-turned-runner, was arrested yesterday at about 5.45pm. Four ATM cards and a mobile phone were seized from the 44-year-old as case evidence.
The two suspects will be charged in court tomorrow. First-time offenders found guilty of carrying on the business as an unlicensed moneylender or assisting in the business of unlicensed moneylending face a fine of between $30,000 and $300,000, a jail term of up to four years and shall also be liable to up to six strokes of the cane.
