Police arrest 45-year-old man for loanshark activities
AsiaOne
Saturday, Jun 01, 2013
SINGAPORE - Police have arrested a 45-year-old man for suspected involvement in loansharking activities.
On May 30, 2013 at about 5.55 pm, officers from Ang Mo Kio Police Division were performing anti-crime duties in the vicinity of Compassvale Walk when they arrested the 45-year-old man for assisting in the carrying out of the business of an unlicensed moneylender.
Stacks of loanshark-related namecards were found on him and seized as case exhibits.
Preliminary investigation indicates that the suspect is believed to have assisted loansharks in distributing namecards offering financial services and have also assisted loansharks in their business by verifying the particulars of debtors.
Investigations against the man are ongoing.
First-time offenders found guilty of assisting in the carrying out of the business of an unlicensed moneylender, may be fined not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning of not more than six strokes.
Commander of Ang Mo Kio Police Division, Deputy Assistant Commissioner of Police Keok Tong San, commended his officers for their proactive policing efforts and vigilance which led to the arrest of the suspect.
