Seven nabbed in crackdown on loanshark activities
Posted: 15 September 2011 2134 hrs
SINGAPORE: Police have nabbed five men and two women in an islandwide operation for suspected involvement in loansharking activities.
The seven are aged between 24 and 72.
The two-day operation covered areas such as Tao Ching Road, Henderson Road and Telok Blangah Rise.
Investigations revealed that the suspects had opened bank accounts and given away their Automated Teller Machine (ATM) cards as well as Personal Identification Numbers (PIN) to loansharking syndicates to facilitate their business.
First-time offenders may be fined up to $300,000, jailed up to four years and given six strokes of the cane.
The Commander of Jurong Police Division, Assistant Commissioner (AC) of Police, Florence Chua, commended her officers for their relentless efforts in clamping down on loansharking activities.
She said: "The Police take a serious view and will not hesitate to take tough actions against those who disregard the law and continue to assist the loanshark syndicates in any forms."
- CNA /ls
