Suspected loanshark runner, 27, arrested
AsiaOne Thursday, Sep 04, 2014
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SINGAPORE - Police have arrested a 27-year-old man for his suspected involvement in loansharking activities.
A resident at Toh Guan Road had lodged a police report after receiving a harassment letter believed to be from a loanshark.
The suspect was identified and arrested at Serangoon North Avenue 4 on September 3.
The suspect is believed to be a debtor-turned-runner who helped to send harassment letters to debtors' units. Upon his arrest, officers seized an A4-sized notepad, a stack of envelopes and some postal stamps from his home.
First-time offenders found guilty of assisting an unlicensed moneylender may be fined not between $30,000 and $300,000. He could also be imprisoned up to four years, and be given up to six strokes of the cane.
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