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June 15, 2009
19 caught in loanshark operation
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This is the largest number of loansharking-related arrests resulting from a single police operation this year. <!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Reico Wong
</td></tr> </tbody></table> <!-- START OF : div id="storytext"--> NINETEEN people were arrested on Monday morning for suspected involvement in a major illegal money-lending syndicate. This is the largest number of loanshark-related arrests resulting from a single police operation this year. Officers from the Criminal Investigation Department (CID) and the Police Intelligence Department raided various locations in the island-wide operation and seized more than $35,000 in cash.
Other items taken away included computers, mobile phones, storage media and suspected debtor records. Preliminary investigations have indicated that the loanshark syndicate was also involved in loanshark-related harassment in connection with the illegal loans. Police said the 18 men and one woman nabbed were between 19 and 40 years old. Investigations are still in progress. First-time offenders found guilty of operating a business as an unlicensed moneylender may be fined up to $200,000 or jailed a maximum of 2 years, or both. Repeat offenders face mandatory imprisonment of up to 5 years, including a similar fine of up to $200,000.
June 15, 2009
19 caught in loanshark operation
<!--10 min-->
This is the largest number of loansharking-related arrests resulting from a single police operation this year. <!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Reico Wong
</td></tr> </tbody></table> <!-- START OF : div id="storytext"--> NINETEEN people were arrested on Monday morning for suspected involvement in a major illegal money-lending syndicate. This is the largest number of loanshark-related arrests resulting from a single police operation this year. Officers from the Criminal Investigation Department (CID) and the Police Intelligence Department raided various locations in the island-wide operation and seized more than $35,000 in cash.
Other items taken away included computers, mobile phones, storage media and suspected debtor records. Preliminary investigations have indicated that the loanshark syndicate was also involved in loanshark-related harassment in connection with the illegal loans. Police said the 18 men and one woman nabbed were between 19 and 40 years old. Investigations are still in progress. First-time offenders found guilty of operating a business as an unlicensed moneylender may be fined up to $200,000 or jailed a maximum of 2 years, or both. Repeat offenders face mandatory imprisonment of up to 5 years, including a similar fine of up to $200,000.
