Man arrested for involvement in loanshark activities
Published on Nov 25, 2014 9:44 AM
By Pearl Lee
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SINGAPORE - A man suspected of allowing a loanshark syndicate to use his ATM cards for its business has been arrested by the police.
Officers from the Ang Mo Kio Police Division arrested the 40-year-old man at Sengkang Square on Sunday night at about 10pm.
Investigations are ongoing.
First-time offenders found guilty of helping an unlicensed moneylender may be fined at least $30,000, jailed up to four years, and receive a maximum of six strokes of the cane.
