Man arrested for suspected involvement in loansharking activities
Posted: 07 September 2011 2233 hrs
SINGAPORE: Police have arrested a 61-year-old man for suspected involvement in loansharking activities.
Officers from Jurong Police Division made the arrest at about 9.45 pm on Tuesday in the vicinity of Block 634 Bukit Batok Central.
They had spotted the man behaving suspiciously at an Automated Teller Machine (ATM). Upon checking, officers found a mobile phone containing debtors' records, three ATM cards and a stack of bank transaction receipts on the suspect.
Initial investigations revealed that the suspect is believed to be a debtor-turned-runner who was helping loansharks by conducting ATM fund transfers and verifying borrowers' addresses.
The suspect will be charged in Court on Thursday.
First-time offenders found guilty of helping unlicensed moneylenders, may be fined up to S$300,000, jailed up to four years and given up to six strokes of the cane.
-CNA/ac
