A man and woman separately arrested for suspected loansharking activities
AsiaOne
Thursday, Dec 06, 2012
SINGAPORE - A 28-year-old man and a 47-year-old woman have been arrested for suspected involvement in loansharking activities.
In the first case, on Dec 5, 2012 at about 6.30pm, officers from Jurong Police Division arrested the man in the vicinity of Choa Chu Kang Ave 4 after receiving a tip-off.
Preliminary investigations show that he is a debtor-turned-runner and is believed to have assisted loanshark syndicates to collect ATM cards from debtors and performed electronic funds transactions via ATMs.
13 ATM bank cards, two handphones and cash amounting to $4,300 were seized from him when he was arrested for the purpose of investigations.
In the second case, also on Wednesday at about 11.30pm, officers arrested the woman in the vicinity of Bukit Batok West Ave 7 for suspected involvement in loansharking activities, also after information was received.
She is a debtor-turned-runner and she is believed to have assisted loanshark syndicates to collect ATM cards from debtors.
Five ATM bank cards, two handphones and four debtor notes were seized from her during her arrest in connection to the case.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender shall be liable to a fine of not less than $30,000 and not more than $300,000, imprisonment for a term of up to four years and caning of not more than six strokes.
First-time offenders found guilty of loanshark harassment shall be fined not less than $5,000 and not more than $50,000 with mandatory imprisonment of up to five years and mandatory caning of up to six strokes.
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