D
Da Qiao
Guest
Nov 1, 2010
12 arrested in crackdown
By Lee Jia Xin
POLICE arrested eight men and four women in an island-wide operation against a loansharking syndicate on the weekend. The syndicate is believed to be responsible for more than 430 loanshark harassment cases across Singapore.
Following investigations, officers from the Criminal Investigation Department and Police Intelligence Department raided various locations including Toa Payoh, Ang Mo Kio, Lorong Lew Lian, Hougang, Tanglin Halt, Bukit Batok, Tampines and Choa Chu Kang and arrested the 12 aged between 19 and 49.
They also seized money, 21 mobile phones, 26 ATM cards, four electronic data storage devices, as well as an assortment of paraphernalia such as bank transactions slips, written records and flyers.
Preliminary investigations revealed that the suspects had supported the operation of the loanshark syndicate by collecting repayments from debtors via ATM transactions, verifying borrowers' identity cards for loans and checking debtors' residences for signs of harassment.
The syndicate is also believed to have advertised their loansharking services through flyers. Six of the suspects will be charged in Court on Monday under the Moneylenders Act. Investigations are still ongoing against the remaining six suspects.
Persons found guilty of operating or assisting in the operating of a loansharking business can be fined up to $300,000 with a mandatory jail term of up to four years, and caned up to six strokes. Persons found guilty of committing loanshark harassment can be jailed up to five years, fined up to $50,000, and caned up to six strokes.
