Police nab 22 people in anti loansharking raids

[Ma Chao]

Police nab 22 people in anti loansharking raids
By Mustafa Shafawi | Posted: 29 October 2010 1505 hrs
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SINGAPORE: Police arrested 22 people on Wednesday in an island-wide crackdown against unlicensed moneylenders.

Raids were conducted in Tampines, Bedok, Woodlands, Yishun, Ang Mo Kio, Teban Gardens and Jurong housing estates.

Police said their initial investigations revealed that the 22 suspects had opened bank accounts and given away their ATM cards and Personal Identification Number (PIN) to loansharking syndicates to facilitate their unlicensed moneylending business.

All 22 suspects are also believed to be debtors themselves.

Investigations are still on-going.

-CNA/wk