21 arrested by police for unlicensed money lending
Published on Dec 15, 2011
By Tham Yuen-C
They had allegedly aided loansharks by allowing their bank accounts to be used and, in one case, helping to harass debtors. Among them were17 men and four women aged between 21 and 58.
On Wednesday, these 21 people were arrested for suspected involvement in loansharking activities.
Twenty of them were arrested in an island-wide operation covering Cross Street, Rivervale Crescent and Bedok Resrvoir Road, among other areas. Preliminary investigations revealed they had either opened bank accounts on behalf of loansharks or had allowed loansharks to use their own bank accounts for illegal money transfers.
Investigations against them are ongoing.
Read the full story in Thursday's edition of The Straits Times.
