4 arrested for alleged loansharking
AsiaOne
Friday, Dec 14, 2012
SINGAPORE - The police have arrested three men and one woman, aged between 27 and 45 years old, for suspected involvement in loansharking activities in four separate cases.
In the first case, officers from Jurong Police Division arrested a 45-year-old man at Bangkit Road on Dec 13 at about 12.30pm.
Preliminary investigations revealed that the suspect is a debtor-turned-runner and is believed to have assisted the loanshark syndicates to perform electronic funds transactions via Automated Teller Machines (ATMs) with four of his bank accounts.
Subsequently, he gave away one ATM card and its Personal Identification Number (PIN) to the loansharks to facilitate their illegal businesses.
Investigations also revealed that the accused did not report change of his address and had used his old residential address to obtain loans from the loansharks. As a result, his previous residence was harassed by the loansharks.
Three ATM bank cards were seized in connection to the case.
In the second case, officers from Ang Mo Kio Police Division arrested a 27-year-old man in the vicinity of Hougang Central on Dec 13 at about 1.35pm.
Preliminary investigations indicated that the suspect is believed to be a debtor-turned-runner had assisted loansharks in their business by arranging for borrowers to open bank accounts and collecting ATM cards and PINs from illicit account holders.
In the third case, officers from Ang Mo Kio Police Division arrested another 45-year-old man in the vicinity of Hougang Central on Dec 13 at about 3.40 pm.
Upon his arrest, mobile phone containing debtor's records, ATM card, bank transaction receipts were found in his possession and were seized as case exhibits.
Preliminary investigations indicated that the suspect, believed to be a debtor-turned-runner, had also assisted loansharks in their business by collecting ATM cards and PIN from illicit account holders and performing fund transfers.
In the last case, officers from Ang Mo Kio Police Division arrested a 29-year-old woman in the vicinity of Serangoon Ave 2 on Dec 13 at about 5.30pm.
Preliminary investigations indicated that the suspect had used false contact information to obtain illegal loans from loansharks. This had also caused the innocent house occupants to be harassed by loansharks.
The suspects for the first two cases will be charged in Court on Dec 15 and investigations against the remaining suspects are ongoing.
Under the Moneylenders Act (Revised Edition 2010), first-time offenders found guilty of assisting an unlicensed moneylender may be fined between $30,000 and $300,000, jailed up to four years and can be caned up to six strokes.
Under the Moneylenders Act (Revised Edition 2010), any person who is guilty of providing false contact information to obtain loans from loansharks can be jailed up to 12 months.
Under the National Registration Act, any person who is guilty of an offence of failing to report a change of address can be fined up to $5,000 or jailed up to five years, or both.
