Two arrested for loanshark harassment involving fire
AsiaOne
Tuesday, Jun 18, 2013
SINGAPORE - Police have arrested two men aged 25 and 28 years old for suspected involvement in several cases of loanshark harassment involving fire.
Officers from Criminal Investigation Department (CID) on Monday arrested the first suspect aged 28 years old at Pasir Ris Street. The suspect is believed to be involved in a case of loanshark harassment by setting fire at Rivervale and multiple island-wide loanshark harassment cases by splashing paint and scrawling loanshark-related graffiti.
Meanwhile, at about 2.10 am today, the officers arrested the other suspect at Hougang. Preliminary investigation indicated that other than committing loanshark harassment involving fire at Elias Road and Tanjong Katong, the suspect had also assisted the loansharks to deliver debtors' notes, verify identity cards, check debtors' units to confirm that harassment had been carried out by other harassers and assisted the loansharks to advertise loan facilities on the pretext of buying second hand digital gadgets.
Both suspects will be charged in Court on Wednesday for offences under the Moneylenders Act. Under the Moneylenders Act, persons found guilty of committing loanshark harassment shall be punished with imprisonment for a term not exceeding five years, a fine of not less than $5,000 and not more than $50,000, and shall also be liable to be punished with not less than three strokes of the cane.
First-time offenders found guilty of assisting in the business of unlicensed moneylending may be fined not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning not more than six strokes.
Members of the public are advised to remain vigilant and not to fall prey to advertisements offering fast cash.
The public can call the Police at '999' or the X-Ah Long hotline at 1800 924 5664 if they suspect or know of anyone who could be involved in illegal loansharking activities.
