2 arrested for involvement in loanshark activities
AsiaOne
Saturday, Mar 09, 2013
SINGAPORE - Police have arrested a 43-year-old woman and a 49-year-old man for suspected involvement in loansharking activities in two separate cases. Investigations against the two suspects are ongoing.
In the first case, on March 8 at about 12.25pm at Yishun Central, officers arrested the 43-year-old woman believed to have assisted loansharks in distributing flyers offering financial services.
If found guilty, she may be fined between $30,000 and $300,000, and jailed for a term not exceeding four years.
In the second case, on March 8 at about 2.05pm, the 49-year-old man was arrested at Ang Mo Kio Ave 9 for using false contact information to obtain illegal loans from loansharks. This caused the innocent house occupants to be harassed by loansharks.
He is also being investigated for failing to report the change of his residential address under the National Registration Act.
If found guilty of providing false contact information to obtain loans from loansharks, he faces up to one year's jail. If found guilty of an offence of failing to report a change of address shall be liable on conviction to a fine up to $5,000, or up to 5 years jail, or both.
