Debtor-turned-runner arrested for suspected loanshark activities

[General Veers]

Debtor-turned-runner arrested for suspected loanshark activities

Published on Feb 24, 2012​

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The officers found loanshark-related paraphernalia such as 19 pieces of ATM transaction receipts, 14 bank cards, five mobile phones containing records relating to loansharking activities and cash amounting to $5,000 in the suspect's possession. -- PHOTO: SINGAPORE POLICE FORCE

By Peter Wong

Police have arrested a 29-year-old Chinese man for suspected involvement in loansharking activities.

On Feb 23 at about 8.15pm, officers from Central Police Division were on their rounds in the vicinity of Towner Road when they spotted the suspect making multiple ATM transactions and behaving suspiciously. Police then interviewed and searched the suspect.

The officers found loanshark-related paraphernalia such as 19 pieces of ATM transaction receipts, 14 bank cards, five mobile phones containing records relating to loansharking activities and cash amounting to $5,000 in the suspect's possession. He was placed under arrest and the items were seized as case exhibits.

Preliminary investigations revealed that the suspect is a debtor-turned-runner who had assisted the loansharks in their businesses by carrying out bank transfers, collecting the ATM cards from prospective bank account holders and collecting repayments from debtors in cash.

Read the full story in Friday's edition of The Straits Times.
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