Oct 1, 2010
2 held for illegal moneylending
By Amanda Lee
TWO men were arrested on Thursday for suspected involvement in unlicensed moneylending activites. One was suspected of being involved in a series of 'hell notes' harrassment while the other is said to have posting illegal loan advertisements on multiple internet websites. The first suspect, a 26-year-old man is believed to be involved in an unlicensed moneylending syndicate and was arrested at Woodlands.
Two mobile phones and a laptop were seized from him. The second suspect, an 18-year-old man was arrested at Bukit Panjang. A computer system, a debit card and a mobile phone were seized. The 26-year-old will be charged in Court on Friday and faces a fine from $30,000 to $300,000 and imprisonment of up to four years as well as caning of up to six strokes. Investigations against the 18-year-old are on-going.
