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Wedge Antilles
Guest
Aug 19, 2010
Duo arrested for loansharking
<!-- by line --> By Carmen Woo
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TWO men have been arrested for suspected involvement in loansharking activities. On Tuesday night, acting on information received, officers from Central Police Division conducted an operation in the vicinity of Waterloo Street.
In the course of the operation, the officers spotted two men behaving suspiciously at the said location. Upon a check, several handphones, ATM cards and bank transaction receipts were found in their possession.
Investigations revealed that the both suspects were debtors-turned-runners who were believed to have assisted loansharks in their business by conducting fund transfers via the ATM.
They were subsequently arrested for suspected involvement in loansharking activities and the items were seized as case exhibits. The two suspects, aged 23, will be charged in Court today for Assisting in the Business of Unlicensed Moneylending under the Moneylenders Act.
