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11 arrested for helping loansharks open bank accounts
Posted: 21 October 2011 1853 hrs
SINGAPORE: Police have arrested 11 men for suspected involvement in loansharking activities.
The men, aged between 22 and 62, are said to have opened bank accounts and given away their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to loansharking syndicates.
The arrests were made after simultaneous raids in various parts of Singapore from October 20-21.
Two of the younger suspects, aged 22 and 23 years, are believed to have aided the loanshark in sending harassment letters. These two suspects will be charged in court on Saturday under the Moneylenders Act.
Investigations on the other suspects are still ongoing.
- CNA /ls
