Police nab suspected teen loanshark runner
Posted: 21 November 2011 1817 hrs
SINGAPORE: Police have arrested a 17-year-old girl for allegedly distributing flyers and namecards for an unregistered moneylending company.
She was arrested for suspected involvement in loansharking activities on Sunday in the vicinity of Compassvale Lane.
Stacks of flyers and name cards were also seized as case exhibits.
Under the Moneylenders Act 2010 (Revised Edition), first-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined between S$30,000 and S$300,000.
They can also be jailed up to four years and also be liable to be punished with caning of not more than six strokes.
- CNA/cc
