Loanshark Bank account holders

[YellowRibbon]

Just out of curiosity,

What happen to the debts of the debtors who open bank acc for the loansharks and got arrested ? The loanshark will void the debts, or continue the payment after their court cases ? Will the loanshark compenstate the debtors who got arrested ?

What happen to the money inside the bank account ? It will be freeze by the police and the ATM card suspended right ? So what happen to the money inside ? Does that means the loanshark will lose all the money ? Then since so many arrests were made for debtors who open bank accounts, wont the loansharks lose a lot of money ?

Hmmm....

 

[halsey02]

Just out of curiosity,

What happen to the debts of the debtors who open bank acc for the loansharks and got arrested ? The loanshark will void the debts, or continue the payment after their court cases ? Will the loanshark compenstate the debtors who got arrested ?

What happen to the money inside the bank account ? It will be freeze by the police and the ATM card suspended right ? So what happen to the money inside ? Does that means the loanshark will lose all the money ? Then since so many arrests were made for debtors who open bank accounts, wont the loansharks lose a lot of money ?

Hmmm....

Wonder, wonder, the news we read, they are arresting only the runners, the debtors turned runners etc.Thisis like exterminating the termites, spraying insecticides on the ants trail; but not going to the source the 'queen ant'. Is the source is protected?:p

 

[commoner]

you people want HO JONX the Queen Ant?

 

[BuiKia]

Go and ask Chua Tiong Tiong, he should be able to give you an answer.

http://www.asiaone.com/News/The+New+Paper/Story/A1Story20091012-173243.html

 

[Narong Wongwan]

Just out of curiosity,

What happen to the debts of the debtors who open bank acc for the loansharks and got arrested ? The loanshark will void the debts, or continue the payment after their court cases ? Will the loanshark compenstate the debtors who got arrested ?

What happen to the money inside the bank account ? It will be freeze by the police and the ATM card suspended right ? So what happen to the money inside ? Does that means the loanshark will lose all the money ? Then since so many arrests were made for debtors who open bank accounts, wont the loansharks lose a lot of money ?

Hmmm....

the money wont have much time to stay inside the accounts for long. once transferred will be withdrawn out or transferred to other debtors almost immediately by the runners. the accounts are only to facilitate not to meet up and thus decrease risks of arrests.

debtors who let their accounts to be used are now charged with the same charge as the ah longs. ah longs will usually void the debts and the debtors get income for their accounts being used as well. nowsadays no need compensation as the debtors do not have much hold on the ah longs thus no leverage as everything is done facelessly.

there is a shortage of accounts now as laws are tougher and less debtors willing to let their accounts be used. so now the ah longs will ask debtors to tranfer to other debtors so harder to pin down the actual accounts. used to be ah longs take over accounts from blangas and foreign workers who finish contract and leave singapore for $200-300 per account. now is need to pay the account holder a regular income and higher market rate.

you seemed to ask so much about ah longs....if you are in debt do not do anything illegal for them. its not worth it.

likewise for those who open internet or phoneline for ah longs....still illegal and the law will catch up with you and usually you are the first one because the ah longs are all in the dark while you are in the open.

 

[Narong Wongwan]

Go and ask Chua Tiong Tiong, he should be able to give you an answer.

http://www.asiaone.com/News/The+New+Paper/Story/A1Story20091012-173243.html

Chua TT might not know.......these are daily operation issues that chairman of the board do not bother with.

 

[Narong Wongwan]

Wonder, wonder, the news we read, they are arresting only the runners, the debtors turned runners etc.Thisis like exterminating the termites, spraying insecticides on the ants trail; but not going to the source the 'queen ant'. Is the source is protected?:p

there are layers and layers to peel off.....the main guy does not run operations and the one running operations is not doing it from singapore even. evething is faceless and cell-like....just like terrorists. most of the low level runners are debtors and even mid level runners who worked very long do not get to see the person on top as everything is done facelessly.

that said, i believe the poodles can do better.....for one can start with tracking handphones.

 

[GoldenDragon]

Go and ask Chua Tiong Tiong, he should be able to give you an answer.

http://www.asiaone.com/News/The+New+Paper/Story/A1Story20091012-173243.html

He's very busy with nightclub at Golden Landmark. MO of ah longs made several great leaps forward while ALS was in Changi.