21-year-old arrested for loanshark harassment
AsiaOne
Thursday, May 02, 2013
SINGAPORE - A 21-year-old man was arrested in Tampines for suspected involvement in loanshark harassment.
In a statement to the media, the police said that their investigations revealed that he is believed to have assisted the loanshark syndicate by harassing debtors for repayments and to distribute namecards advertising loan facilities.
Officers confiscated two mobile phones and a stack of namecards as case exhibits for investigations when the man was arrested.
First time offenders found guilty of loanshark harassment can be fined between $5,000 and $50,000. They face a mandatory prison term of up to 5 years and mandatory caning of up to 6 strokes.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, can be fined between $30,000 and $300,000. They can also be jailed up to 4 years and recieve up to 6 strokes of the cane.
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