3 arrested for loansharking activities
AsiaOne
Monday, Jul 09, 2012
Police have arrested two men, aged 25 and 35, and one 64-year-old woman for suspected involvement in loansharking activities.
In the first case, on July 8 at about 11pm, police officers were patrolling in the vicinity of Woodlands Street 13 when they arrested the 35-year-old man for his involvement in loansharking activities.
Preliminary investigations revealed that the suspect is a debtor-turned-runner and had assisted the loanshark syndicates to perform ATM fund transactions.
Upon his arrest, one ATM card and one handphone containing debtors'information were seized.
In the second case, on July 9 at about 12.05am, acting on an information tip-off by a member of public, police officers arrested the 25-year-old in the vicinity of Bukit Panjang Ring Road for his involvement in loansharking activities.
Preliminary investigations revealed that the suspect is believed to be responsible for cases of loanshark harassment in Bukit Panjang, Taman Jurong and Jurong West housing estates.
Upon his arrest, one marker pen and one handphone containing debtors' information were seized.
Later that day at about 11.30am, through follow up investigation, police officers arrested a 64-year-old woman for opening a bank account and giving away both her ATM card and her Personal Identification Number (PIN) to loansharks to facilitate their business.
Both suspects in the first and second cases will be charged in Court on July 10 while the investigation against the female suspect is still ongoing.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined up to $300,000, imprisoned for a term of up to four years and caned up to six strokes.
First-time offenders found guilty of loanshark harassment may be fined up to $50,000 with a mandatory imprisonment of up to five years and mandatory caning of up to six strokes.
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