Suspected loan shark runner arrested
Published on Sep 18, 2014 8:36 PM
By Danson Cheong
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SINGAPORE - Police have arrested a 58-year-old man on suspicion of involvement in loan shark syndicates.
The man was nabbed near Gangsa Road on Wednesday evening by officers from the Bukit Batok Neighbourhood Police Centre.
Preliminary investigations revealed that the suspect is a debtor-turned-runner. He is believed to have used ATM cards and PIN numbers of other debtors to perform ATM transactions related to unlicensed moneylending businesses.
He is also believed to have assisted the syndicates in verifying the identities of potential borrowers and subsequently handed over money to them.
