19 arrested for loansharking activities
Posted: 29 May 2012 1302 hrs
SINGAPORE: Officers from the Clementi Police Division have arrested 19 people for suspected involvement in loansharking activities.
Police said during an eight-hour islandwide operation which started Monday, the officers conducted simultaneous raids at various locations including Jurong West, Boon Lay, Bukit Batok, Woodlands, and Yishun.
Preliminary investigations revealed that 17 of the suspects had opened bank accounts and gave away their Automated Teller Machine cards and Personal Identification Numbers to loanshark syndicates to facilitate the business of unlicensed moneylending.
As for the remaining two suspects, one of them was believed to have obtained loans from loansharks by using her previous residential address.
The other suspect, aged 15, is believed to have acted as a runner for an unlicensed moneylender by harassing debtors.
Police said investigations against the suspects are ongoing.
- CNA/cc
