62 people nabbed in anti-loansharking blitz

[chobolan]

62 people nabbed in anti-loansharking blitz
By Ambiga Raju | Posted: 07 January 2011 2124 hrs
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SINGAPORE : Sixty-two people have been arrested in one of the biggest raids against loansharks in Singapore.

Police said the 48 men and 14 women arrested are aged between 17 and 75 years old.

The 55-hour operation started on Wednesday, when simultaneous raids were conducted at Queenstown, Woodlands, Sembawang, Yishun, Ang Mo Kio, Serangoon, Hougang, Sengkang, Geylang and Bedok.

A number of Automated Teller Machine (ATM) cards, mobile phones, bank passbooks, bank transaction slips and photocopied identity cards were also seized.

The suspects are believed to have opened bank accounts and given away their ATM cards and Personal Identification Numbers to loansharking syndicates.

Commander of Ang Mo Kio Police Division HQ, Deputy Assistant Commissioner of Police Hsu Sin Yun, said: "By surrendering their bank accounts to unlicensed moneylenders, these bank account holders are actually helping the syndicate to evade police detection."

At least 45 of the suspects are believed to be either debtors or guarantors.

First-time offenders found guilty of assisting unlicensed moneylenders can face fines of S$30,000 to S$300,000, be jailed for up to four years and caned.

- CNA/ms