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Man arrested for suspected loansharking activities
Posted: 03 March 2012 1751 hrs
SINGAPORE: Police have arrested a 52-year-old man for suspected involvement in loansharking activities.
Police officers were conducting anti-crime patrol in the vicinity of Clementi Avenue 3 on 2 March, when they spotted a man behaving suspiciously.
After checking and interviewing the man, the police officers arrested him for suspected involvement in loansharking activities.
Officers found several stacks of pamphlets offering 'easy loan' in his residence.
Preliminary investigations revealed that the suspect had opened a bank account and given away his Automated Teller Machine (ATM) card and Personal Identification Number (PIN) to the loanshark in facilitation of loansharking activities.
The suspect had also distributed loansharking related pamphlets in the Jurong East housing estate.
If found guilty of assisting in the carrying out of the business of an unlicensed moneylender, the suspect may be fined up to S$300,000, jailed for up to four years, and given six strokes of the cane.
- CNA/ck
