3 loanshark runners arrested
AsiaOne
Friday, May 10, 2013
SINGAPORE - In a five-hour anti-loanshark operation conducted on May 9, 2013, police arrested three men aged between 26 and 53 for suspected involvement in loansharking activities.
In the first case, the officers spotted a man behaving suspiciously near New Upper Changi Road at about 8.25pm and conducted a check on him.
He was found to be in possession of three Automated Teller Machine (ATM) cards and a mobile phone containing loanshark-related messages.
The 53-year-old suspect was arrested for suspected involvement in loanshark activities and the items were seized as case exhibits.
In the second case, another group of officers conducted a check on a 26-year-old suspect near Sims Avenue at about 8.15pm.
He was in possession of three ATM cards and a mobile phone containing loanshark-related messages, and so was placed under arrest.
A 35-year-old suspect was arrested in the vicinity of Lorong 25A Geylang on the same day at about 8.45pm. A mobile phone containing loanshark-related messages was seized for investigations.
Preliminary investigations revealed that the three suspects have assisted loanshark syndicates by performing electronic funds transactions.
Investigations against the three suspects are ongoing. Under the Moneylenders Act (Revised Edition 2010), first-time offenders found guilty of assisting in the business of an unlicensed moneylender may be fined between $30,000 to $300,000, be imprisoned for a term not exceeding 4 years and shall also be liable to be punished with caning with no more than 6 strokes.
