Loanshark runner, 49, arrested at Hougang St 52
Published on Aug 25, 2011
By Kimberly Spykerman
Police have arrested a 49-year-old man on Wednesday for suspected involvement in loansharking activities in Hougang.
Officers from Ang Mo Kio Police Division spotted the suspect behaving suspiciously on the second floor of an HDB block in Hougang Street 52 on Wednesday at about 4.30 pm, while on anti-crime rounds. They later saw him distributing flyers from house to house.
Investigations indicated that the suspect had assisted loansharks in their business by distributing flyers advertising loan facilities. The flyers advertising loan facilities were seized as case exhibits.
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 not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning of not more than six strokes.
