Taxi driver arrested for unlicensed moneylending activities

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Taxi driver arrested for unlicensed moneylending activities
By Shaffiq Alkhatib | Posted: 20 January 2011 1912 hrs
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SINGAPORE: Police have arrested a 55-year-old taxi-driver for suspected involvement in unlicensed moneylending activities.

The suspect was arrested last night at Boon Lay Place.

Eight Automated Teller Machine (ATM) cards found in his possession were seized.

Police said the suspect had taken loans of more than $20,000 from 20 different loansharks.

To pay off his debts, the suspect became a runner and carried out bank transfers for one of the loansharks.

The suspect will be charged in Court on Friday for assisting an unlicensed moneylending business.

- CNA/fa