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6 arrested in relation to loansharking activities
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AsiaOne
Tuesday, Oct 08, 2013
The police have arrested 5 men and a woman between the ages of 19 and 56 in connection with loansharking activities in five separate cases on Oct 7.
In the first two cases the police arrested thre men, aged 32, 34 and 36, for their suspected involvement in loansharking activities.
Preliminary investigations reveal that both suspects are debtors who have opened bank accounts and given away their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to loansharks to facilitate their businesses.
In the third case the police arrested a 56-year-old man in the vicinity of Yishun Street 81 for carrying on of a moneylending business without license.
Preliminary investigations indicate that the suspect is believed to have offered his services to give out loans and charging interest without a valid license.
In the fourth case, a 31-year-old man was arrested for his suspected involvements in loansharking activities.
Investigations reveal that he is a debtor-turned-runner who assisted the loanshark syndicates by procuring ATM cards from other debtors. Upon his arrest, a mobile phone was seized in connection to the case.
In the final case, an alert resident who spotted a 19-year-old woman placing debtor notes outside a unit in the vicinity of Hougang Avenue 9.
The police officers who responded were able to locate and detain the suspect at a bus-stop nearby.
She was then arrested for suspected involvement in loanshark activities after an interview by the officers. Loanshark-related paraphernalia, such as envelopes, debtor and hell notes were found in her possession and seized as case exhibits.
Initial investigations indicate that the suspect had been working for loansharks and had delivered debtor notes on behalf of the loansharks.
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, be jailed up to 4 years and receive up to 6 strokes of the cane.
