Police nab 25 people suspected of loansharking activities

[floorfilla]

Police nab 25 people suspected of loansharking activities
Posted: 02 November 2010 1700 hrs
<table align="right" border="0" cellpadding="0" cellspacing="0" width="260"> <tbody><tr> <td align="right" width="20"></td> <td align="right" width="240">

</td> </tr> <tr> <td height="60" valign="top"></td> <td class="update" height="80" valign="top"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td bgcolor="#f6f6f6" width="138">Photos </td> <td bgcolor="#f6f6f6" width="47">1 of 1</td> <td bgcolor="#f6f6f6" width="18"><input disabled="disabled" id="btnPrev" value="<< Previous" src="http://www.channelnewsasia.com/images/butt_previous.gif" height="15" type="image" width="18"></td> <td bgcolor="#f6f6f6" width="19"><input id="bntPlay" value="Play - Stop" src="http://www.channelnewsasia.com/images/butt_stop.gif" height="15" type="image" width="19"></td> <td bgcolor="#f6f6f6" width="18"><input disabled="disabled" id="btnNext" value=" Next >> " src="http://www.channelnewsasia.com/images/butt_next.gif" height="15" type="image" width="18"></td> </tr> </tbody></table>

</td> </tr> <tr> <td></td> <td class="update"></td> </tr> <tr> <td></td> <td>
</td> </tr> </tbody></table>
SINGAPORE: Twenty-five people were arrested in an islandwide operation against unlicensed moneylending activities.

Those arrested were between 17 and 64 years old.

Preliminary investigations revealed that the 25 suspects had opened bank accounts and given away their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to loansharking syndicates to facilitate their business of unlicensed moneylending.

One of the suspects was also believed to have acted as a runner for an unlicensed moneylender by carrying out bank transfers.

The suspect will be charged on Wednesday in court under the Moneylenders Act.

The other 24 suspects are still under investigation.

-CNA/wk