"Loanshark syndicate" busted
Posted: 16 February 2012 2224 hrs
SINGAPORE: Police have busted a suspected loanshark syndicate and arrested 10 individuals in an island-wide operation which ended early Thursday morning.
The arrests were made less than 24 hours after police nabbed five suspects believed to be responsible for several harassment cases involving the use of fire in a separate operation on Wednesday.
The arrests on Thursday were made in various parts of Singapore, including Ang Mo Kio, Geylang Bahru, Hougang, Tampines, Bendemeer, Marsiling and Boon Lay.
Police seized cash, mobile phones, transaction receipts, ATM cards, bank books, a laptop, thumb drives and stacks of envelopes containing harassment letters during the operation.
The 10 suspects are aged between 21 and 53 years old.
Under the Moneylenders Act, anyone found guilty of helping loansharks could be fined of up to S$300,000, get four years' jail and six strokes of the cane.
- CNA/wk
