53-year-old suspected loanshark runner nabbed
AsiaOne
Monday, Jan 21, 2013
SINGAPORE - A 53-year-old suspected loanshark runner was arrested by police officers yesterday in Yishun at about 3.15pm.
Officers spotted the man behaving suspiciously and conducted a check on him.
Loanshark-related paraphernalia such as a mobile phone containing suspected debtors' records, bank transaction receipts and Automated Teller Machine cards were found in the suspects’ possession.
Preliminary investigations revealed that the suspect had assisted loansharks by checking on borrowers' units to confirm that the acts of harassment had been carried out.
Investigations against the suspect are ongoing. Under the Moneylenders Act (Revised Edition 2010), first-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined between $30,000 and $300,000, be imprisoned for a term not exceeding four years and may also be caned not more than six strokes.
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