C
Cao Pi
Guest
Jul 28, 2010
2 loanshark runners arrested
<!-- by line --> By Lee Jia Xin
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POLICE have arrested two men for suspected involvement in loansharking activities. The two aged 20- and 23-years-old were nabbed on Tuesday after the police received a tip-off about suspicious men loitering in the area of Yishun Street 22. The police found in their possession several handphones and cash amounting to more than $700.
Both were arrested for suspected involvement in loansharking activities. Preliminary investigations revealed that the two suspects have assisted a loanshark by collecting debt repayments from debtors. The police are still investigating the case. First time offenders found guilty of assisting in carrying out an unlicensed moneylending business may be fined up to $300,000 jailed up to 4 years and caned up to 6 strokes.
