2 suspected loanshark runners caught

[Xiao Qiao]

2 suspected loanshark runners caught
By Andre Yeo | Posted: 19 November 2010 1358 hrs
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SINGAPORE: Police have arrested two men for suspected involvement in loansharking activities.

Officers from Clementi Police Division spotted a man behaving suspiciously near Blk 450 Clementi Ave 3, during anti-crime rounds on Thursday afternoon.

They found cash of about S$300, two mobile phones and one ATM card on him.

The 28-year-old suspect was then arrested and later found to be a debtor-turned-runner believed to have aided the loansharks by conducting bank transfers.

Later, a 46 year-old suspect was arrested in the same area.

Two ATM cards believed to be used for loansharking activities were seized.

He was also a debtor-turned-runner and was believed to have given his ATM cards to the loansharks to facilitate their business.

The 28-year-old suspect will be charged on Saturday in court, while investigations into the second man are ongoing.

First-time offenders found guilty of assisting in carrying on an unlicensed moneylending business may be fined at least S$30,000 and up to S$300,000, with mandatory imprisonment of up to four years and mandatory caning of up to six strokes.

-CNA/wk