2 men arrested for suspected loansharking activities
Published on Jan 20, 2012
By Lin Wenjian
The police have arrested two men for helping loansharks with their operations.
The first suspect, a 37-year-old man, was nabbed by officers from Jurong Police Division on Thursday.
On him were three automated teller machine (ATM) cards and one mobile phone.
Investigations showed that he is a debtor-turned-runner who carried out fund transfers and collected ATM cards from other debtors who had opened bank accounts for the loansharks.
The second arrested man is 35 years old and was found to have helped a loanshark consolidate cash collected from other runners.
One mobile phone and $15,000 found on him during the arrest at Kranji MRT station were seized as case exhibits by the police.
If found guilty of assisting the illegal moneylenders, the suspects may be fined between $30,000 and $300,000, jailed not more than four years and may also be caned not more than six strokes.
Read the full story in Friday's edition of The Straits Times.
