Singapore
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Jan 13, 2010
Loansharking rackets smashed
<!-- by line --> By Wendy Lim
<!-- end by line -->
<!-- end left side bar --> <!-- story content : start --> POLICE have smashed two separate loansharking syndicates in an islandwide operation which began on Tuesday afternoon and ended early Wednesday morning. Thirteen Singaporeans - 12 men and a woman aged between 27 and 52 years - were arrested. Officers from the Criminal Investigation Department and Police Intelligence Department raided various locations around the island including West Coast Drive, Hougang, Serangoon North, Geylang, Yishun, Redhill, Balestier, Telok Blangah, Bukit Purmei, and Henderson. Over $27,000 in cash, ATM cards, mobile phones, laptops, storage devices, debtor records and other documents were seized. Preliminary investigations indicated that both syndicates used electronic bank transfers and transactions to facilitate their illegal activities. When debtors defaulted on payments, syndicate members harassed them and innocent parties like their neighbours by posting debtor notes and splashing paint at their homes. The syndicates are believed to be responsible for more than 400 harassment reports islandwide. In a separate case, police arrested a man behaving suspiciously near an ATM machine on Tuesday evening. Several ATM cards, receipts of bank transactions, handphone containing records suspected to be that of debtors' were found on him. The man was subsequently arrested for suspected involvement in loansharking activities.
Home > Breaking News > Singapore > Story
Jan 13, 2010
Loansharking rackets smashed
<!-- by line --> By Wendy Lim
<!-- end by line -->
<!-- end left side bar --> <!-- story content : start --> POLICE have smashed two separate loansharking syndicates in an islandwide operation which began on Tuesday afternoon and ended early Wednesday morning. Thirteen Singaporeans - 12 men and a woman aged between 27 and 52 years - were arrested. Officers from the Criminal Investigation Department and Police Intelligence Department raided various locations around the island including West Coast Drive, Hougang, Serangoon North, Geylang, Yishun, Redhill, Balestier, Telok Blangah, Bukit Purmei, and Henderson. Over $27,000 in cash, ATM cards, mobile phones, laptops, storage devices, debtor records and other documents were seized. Preliminary investigations indicated that both syndicates used electronic bank transfers and transactions to facilitate their illegal activities. When debtors defaulted on payments, syndicate members harassed them and innocent parties like their neighbours by posting debtor notes and splashing paint at their homes. The syndicates are believed to be responsible for more than 400 harassment reports islandwide. In a separate case, police arrested a man behaving suspiciously near an ATM machine on Tuesday evening. Several ATM cards, receipts of bank transactions, handphone containing records suspected to be that of debtors' were found on him. The man was subsequently arrested for suspected involvement in loansharking activities.
