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Nine arrested for loansharking activities
By Tamal Mukherjee | Posted: 11 April 2011 1729 hrs
SINGAPORE: Police have arrested nine men, aged between 25 and 69, for suspected involvement in loansharking activities.
In an islandwide operation that began on Sunday, officers from Jurong Police Division conducted simultaneous raids at various locations, including Choa Chu Kang, Woodlands, Toa Payoh, Bedok and Tampines, and arrested the suspects.
Preliminary investigations revealed that the suspects had opened bank accounts and given away their ATM cards and Personal Identification Numbers (PIN) to loansharking syndicates to facilitate their business.
First-time offenders found guilty of loansharking activities may be fined up to S$300,000, and may also be jailed for four years and caned.
-CNA/ac
